Forest Fund close to starting operations
At the opening of COP31 in Turkey, Brazil’s president called for new support for the TFFF, a global mechanism to reward countries for maintaining tropical forests, and said the fund is close to securing the investments needed to begin operations. The post Forest Fund close to starting operations appeared first on ANBA News Agency .
Brazil's Tropical Forests Forever Facility (TFFF) is nearing the investment level required to commence operations, as stated by President Luiz Inácio Lula da Silva during the COP31 summit in Antalya, Turkey. The global mechanism, proposed and led by Brazil, aims to financially reward countries that preserve their tropical forests.
Lula highlighted that the TFFF has garnered support from numerous nations and is close to securing the necessary investments to kickstart its operations. The fund was introduced at the COP30 conference held in Belém, Pará, Brazil, last November. Lula also emphasized three roadmaps left as a legacy by the Belém conference, which he believes will help secure USD 1.3 trillion in climate financing, transition away from fossil fuels, and halt and reverse deforestation.
The second message focused on the TFFF, while the third underscored the urgency of increasing emissions reduction targets. Brazil has witnessed a significant decline in deforestation across all biomes, with a 71% reduction in the Amazon region between 2022 and 2026. Lula highlighted the importance of international cooperation to protect the Amazon Rainforest, noting that Brazil has relaunched the Amazon Fund in 2023, approving a record number of projects that have benefited three out of every four municipalities in the Amazon region.
Written by urgent.news from ANBA News Agency's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
