Germany has joined a handful of countries pledging money to the Tropical Forest Forever Facility (TFFF), but the conservation mechanism launched by Brazilian President Luiz Inácio Lula da Silva ahead of COP30 is still far short of the $25 billion in public funds it aims to secure.
Following talks between government ministers and Lula yesterday, Germany said it would contribute one billion euros ($1.1 billion) over the next 10 years, praising the “innovative approach” of the investment-driven multilateral fund proposed by Brazil.
The TFFF is a blended finance instrument that will invest in financial markets and pay a share of any returns to tropical countries that are protecting their rainforests. At least 20% of all payments must be allocated to Indigenous people and local communities.
“It’s about protecting the tropical rainforests, the lungs of our planet,” a statement by Germany’s development and environment ministers said after Wednesday’s meeting.
Germany’s promise of support follows a Norwegian pledge of 3 billion euros over the coming decade – if certain stringent conditions are met, while Brazil and Indonesia have pledged $1 billion each, with Colombia offering $250 million. France has also said it will consider contributing 500 million euros over the next five years.
That brings the total pledged so far to roughly $7 billion.
British climate minister Ed Miliband said on Monday the UK government was keeping “the option of an investment under review”.
Talks have also been held with China, the United Arab Emirates, Australia, Japan and Canada, Brazil although none of those countries have so far announced pledges.n official João Paulo de Resende told Climate Home News last month,
Resende said securing political support was more important at this stage than funding promises, which can come later.
