President Luiz Inácio Lula da Silva and the Secretary General of the United Nations (UN), António Guterres, lead on Tuesday (23) a dialogue on the Fund Frames Forest Forever (TFFF) in New York, United States. The programming is part of a high level agenda for climate action promoted during the 80th General Assembly of the United Nations.
At the meeting, in addition to the fund to remunerate countries for the preservation of tropical forests, The proposal of coalition of carbon credit markets will be detailed. Both mechanisms will function in a complementary manner by remunerating countries with concrete conservation results and greenhouse gas capture initiatives.
According to a statement issued by the Ministry of Environment and Climate Change (MMA), The goal of the TFFF is to gather an initial contribution of $ 25 billion from investing countries (capital junior) until the launch of the initiative, at the 30th United Nations Conference on Climate Change, which will take place in November in the city of Belém. “With this injection, it should be possible to leverage another $ 100 billion (senior capital) of the private sector over the coming years,” says the newsletter.
“It is not a donation, but an initiative that operates with market logic, leveraging private resources from public investments. For each dollar from countries, it is expected to mobilize about four dollars in the private sector, creating a permanent fiduciary fund. It is a new way to finance conservation, with shared responsibility and future vision,” MMA minister Marina Silva explained.
In practice, The funds will guarantee a transfer of $ 4 billion per preserved hectare of tropical forest. In all, 74 countries can benefit as long as they prove the conservation of forests, with satellite monitoring, and allocate 20% of resources to indigenous peoples and traditional communities.
Idealized by the Brazilian government and launched in 2023, the Tfff was announced in DubaiPresident Lula during COP28 and already has the support of five countries with tropical forests (Colombia, Ghana, Congo Democratic Republic, Indonesia and Malaysia) and five other potential investors (Germany, United Arab Emirates, France, Norway and the United Kingdom).
“TFFF is not formally an instrument of UNFCC, but it directly contributes to the objectives of reducing emissions via forest conservation, preservation, conservation of biodiversity, among others,” said MMA’s special economy and environment advisor André Aquino.
Dialogues
The dialogue about TFFF is promoted by Brazil as part of the high level special event on climate action, which began on Monday (22) with the promotion of a series of critical thematic dialogues to accelerate climate action. During the programming, meetings are expected to discuss mitigation, adaptation, financing and integrity solutions.
The results and recommendations of the dialogues will be presented at the end of the event, on Wednesday (24), in the form of a report with guidelines for COP30.
