Tag Archives: TFFF

Mongabay: Brazil leads push for novel forest finance mechanism ahead of COP30 summit

Tropical forests like this one in the Peruvian Amazon could qualify for annual payments from the Tropical Forest Forever Facility (TFFF) to help keep them standing and delivering planetary ecosystem services — especially carbon sequestration that slows the rate of climate change. Image by Justin Catanoso

In this story, I revisit a promising initiative I first wrote about at the UN biodiversity meeting in Cali, Colombia, in October, 2024. At Climate Week 2025, Brazilian President Lula stepped forward to pledge the first $1 billion to a tropical forest protection fund unlike any other, as my sources have told me.

Highlights from my story, as summarized from my story by my editor, Glenn Scherer.

The Tropical Forest Forever Facility (TFFF) — a proposed $125 billion fund to conserve tropical forests worldwide — was developed by Brazil in 2023, and pushed forward in 2024 at the UN biodiversity summit in Colombia. Since then, momentum has built in support of this market-driven approach to conserving tropical forests.
Once fully established, the $125 billion fund would spin off as much a $4 billion in interest annually (above what is paid to investors), potentially going to more than 70 TFFF-eligible developing nations, which collectively hold more than one billion hectares of tropical forests. The fund could be operational before 2030.
At Climate Week in New York City on Sept 23, Brazilian President Luiz Inácio Lula da Silva announced that his country will invest the first $1 billion in the fund. Other nations, including China, Norway, the UK, Germany, Japan and Canada seem poised to contribute. Even oil producing nations like Saudi Arabia have shown interest.
But hurdles lie ahead: TIFFF needs $25 billion from sovereign nations and $100 billion from private investors before a full launch, with Indigenous and local communities (IPLCs) to be major benefactors. The make-or-break moment for TIFFF is expected to occur at the UN climate summit (COP30) in Belém, Brazil Nov. 10-21, 2025.

Marina Silva, Brazil’s minister of the environment and climate change, has been instrumental in TFFF development and was in New York City during Climate Week to discuss it with other environmental ministers. She is shown here in an Oct. 2024 meeting with journalists at the UN biodiversity summit in Cali, Colombia. Image by Justin Catanoso for Mongabay.

Mongabay: COP16 biodiversity meeting recap: Progress made, but finance lags

U.N. Secretary-General António Guterres spoke at COP16 on Oct. 30: “Human activities have already altered three-quarters of Earth’s land surface and two-thirds of its waters. And no country, rich or poor, is immune to this devastation,” he said. “To survive, humanity must make peace with nature. We must transform our economic models — shifting our production and consumption to nature-positive practices. Renewable energy, sustainable supply chains and zero-waste policies are not optional. They must become the default option for both governments and businesses.” Image by Justin Catanoso for Mongabay.

This wrap up story from Cali, Colombia — an overview of the outcomes, good and bad, from the 16th United Nations Convention on Biodiversity (COP16) — started coming together on Thursday, Oct. 31, 2024, my last day at the summit. I focused on a half-dozen or so major issues, interviewed about that many sources one-on-one, attended several press conferences and generally took in the mood of the penultimate day of the two-week meeting.

By Saturday, November 2, after COP16 was gaveled to a premature close, the press releases started rolling in, as did WhatsApp messages from a variety of sources eager to weigh in with final thoughts. One comment from an event I covered days earlier stuck with me: delegates at this biodiversity COP need to celebrate positive outcomes, not simply wallow, however appropriately, in all the measures falling short.

“You can’t rally a constituency around dread and fear,” said Valerie Hickey, global director for the World Bank’s division on environment, natural resources and oceans.

So in consultation with my editor, I organized this story around highlighting what went right and almost- right before describing critical items that fell demoralizingly short. I ended by giving voice to an 27-year-old Indigenous woman from Chile — a courageous and outspoken advocate for human rights and the environment — whom I met by chance on a crowded shuttle bus one evening.

There were some legitimately promising outcomes from Cali, two of which center on regenerating pools of funding for conservation efforts throughout the tropical world. But overall, as one NGO leader from England put it: “The pace of COP16 negotiations did not reflect the urgency of the crisis we are facing.”

True enough, but the progress made is still welcomed. The problem is, so much more is needed in a vanishingly short amount of time to, at best, slow the rate of climate calamities and biodiversity extinctions around the world.

In the plenary hall, delegates from 177 nations debated the language and intent of the principles and rules guiding the global protection of forests, oceans and biodiversity. The meeting ended abruptly on Saturday, Nov. 2, when too many delegates had to leave to catch flights as COP16 ran past its designated end time. Negotiations are to resume at an unspecified date in Bangkok. Image by Justin Catanoso for Mongabay.

Mongabay: COP16/CBD: ‘A fund unlike any other’ will pay tropical nations to save forests

COP16 President Susana Muhamad, Colombia’s minister of the environment (center, in black), introduced an hour-long discussion on October 28 of a new, novel form of conservation finance being called TFFF, for Tropical Forest Forever Facility. She was joined by (from left), Jochen Flasbarth, Germany’s state secretary in the Federal Ministry for Economic Cooperation and Development; Marina Silva, Brazil’s minister of the environment; Nik Nazmi bin Nik Ahmad, Maylaysia’s minister of natural resources; and Razan Al Mubarak, managing director of the Environment Agency Abu Dhabi in the United Arab Emirates. Image by Justin Catanoso for Mongabay.

This story, easily my most upbeat and best read of the United Nations biodiversity summit in Cali, Colombia, came about as some good stories do: serendipity. Saturday, October 26, I was leaving after a second full day of scrambling, only partially successfully, for another substantive story. It was dark and I had not quite gotten the flow and content of this conference. At a vehicle area lined with taxis, I asked a woman standing behind me how I might get a ride back into in Cali, some 10 miles, away. Generously, she invited me to share her Uber. Her name was Frances Price with WWF-International (it turns out we had met years ago at a climate summit, but neither of us remembered). Like most everyone else at the conference, she knew Mongabay. So I told her I needed to identify more high-impact stories to pursue.

Right there, though I didn’t know it yet, she gave me the best story I would cover in eight days, and the most read and talked about: the now-organizing Tropical Forest Forever Facility, or TFFF. With finance promises barely registering the necessary funds for forest, ocean and biodiversity protection, this novel mechanism — an investment fund akin to how banks invest deposits and pay interest — promises to be “a game changer” in forest conservation. Fran had a WWF comms person send me background stories via WhatsApp and I started up the learning curve. On Monday, I was among the very few journalists who covered a high-profile event in the Colombian pavilion attended by some of the most influential people at COP16, including the president of the meeting, Susana Muhamed.

My story explains how the planned $125 billion fund could work; how investors will be repaid; how 70 tropical countries will be paid, year after year, if they keep their native forests standing. The story posted Wednesday, October 30, and started attracting readers. Mongabay founder and CEO Rhett Butler summarized the story on LinkedIn and it drew some 750 engagements from around the world. Rhett sent me an email saying he had wanted to see a story on TFFF for six months, and was glad to finally have one on our news site. I wish I could say it was my plan all along. It wasn’t. But I’ll take that kind of luck any day while on a challenging assignment in covering a sprawling international meeting like COP16.