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.

The Colombian pavilion, the host country’s centrally located meeting place during COP16, was filled to overflowing for the TFFF event in which the new funding tool for forest conservation was showcased. I arrived early and managed to grab a prime seat. Image by Justin Catanoso for Mongabay.