Germany will commit €1bn ($1.15bn) to Brazil's Tropical Forests Forever Facility (TFFF), Brazilian environment minister Marina Silva said at the UN Cop 30 climate summit today.
TFFF, a fund to to preserve global tropical forests launched by Brazil during Cop 30, has now received around $5.65bn in pledges. Norway, Indonesia, France, Colombia, the Netherlands and Portugal — as well as Brazil — have made pledges. Another 45 countries have endorsed it, according to Brazilian officials.
Brazil's finance minister Fernando Haddad said last week that he expects TFFF to reach $10bn before Brazil transfers the Cop presidency in November next year.
But some countries have said that they will not be making pledges at this time, as was the case of the UK. The country is endorsing the fund but will not pledge now, although it does not rule out one in the future, officials have said.
The fund aims to help pay developing countries $4/hectare for preserved tropical forests.
