Brazil’s Lula announces $1 billion investment in global forest fund

Brazil’s President Luiz Inacio Lula da Silva announced on Tuesday a $1 billion investment in the Tropical Forests Forever Facility, a multilateral funding mechanism it has proposed to support conservation of endangered forests, at a United Nations event in New York.
The announcement, which confirmed an earlier report by Reuters, makes Brazil the first country to commit a contribution to the forest fund, which may be the Brazilian government’s main deliverable at the U.N. climate summit known as COP30 that it will host in the Amazonian city of Belem in November.
“Brazil will lead by example,” Lula said. “I invite all partners present to put forward equally ambitious contributions so that the TFFF can become operational at COP30.”