iCS celebrates the agreement of governments from all regions of the world to the TFFF. The mechanism had the support of the Institute for its construction
The Climate and Society Institute (iCS) celebrates the launch of the Tropical Forests Forever Fund (TFFF) and the commitment made by countries such as Norway, Indonesia, Colombia, and France, which contributed to the capitalization of the mechanism, helping to raise an initial capital of US$5.75 billion.
The figures announced this Thursday (6) will certainly help to scale up the participation of sovereign funds in the US$25 billion investment target, and contribute to attracting private investment to the final target amount of US$125 billion.
The iCS also celebrates the fact that, right from the official launch of TFFF, 53 nations endorsed the mechanism, including major holders of tropical forests such as Peru, the Democratic Republic of Congo, and Ghana.
“We celebrate the understanding and significant commitment of governments from all regions of the world to the TFFF. The volume of resources announced today demonstrates that the Fund is a consistent and innovative mechanism for long-term climate finance,” said Maria Netto, executive director of iCS.
Throughout the process of building the mechanism, iCS worked intensively to strengthen dialogue among those responsible for the conservation of tropical forests in various countries. This collaboration involved the Brazilian government, the World Bank, and the Global Alliance of Territorial Communities (GATC), which brings together organizations of indigenous peoples from 24 countries, totaling 958 million hectares of protected areas.
In this process, the Institute helped forest guardians submit proposals and recommendations to the Brazilian government and the COP30 secretariat, which were taken into account in the design of the fund. The most important of these is the requirement for countries to deposit 20% of the resources received into an account managed by the indigenous peoples and local communities themselves, who are responsible for keeping the forest standing, thus giving concrete expression to the motto of these groups: “Nothing about us without us”.
“It is expected that the TFFF will make a decisive contribution to establishing a new standard for climate finance, one that protects forests and ensures that the demands of indigenous peoples and local communities take center stage. We are certain that further announcements of support for the Fund will follow throughout the next year,” said Maria Netto, executive director of iCS.
