A new global rainforest fund, unveiled by Brazil at COP30, will likely struggle to meet its initial funding target this year, after the UK failed to announce an expected pledge during London Climate Action Week and other donors have been slow to come on board.
The Tropical Forest Forever Facility (TFFF) was launched on the sidelines of last November’s UN climate summit as an innovative mechanism to fund rainforest protection. Instead of relying on grants, it seeks to raise public and private money, invest it in financial markets, and then pay rainforest countries a share of the returns.
The facility has so far raised $6.8 billion but needs to mobilise at least $10 billion by the end of 2026, under conditions set by Norway to unlock its pledge. If the fund falls short of this goal, the Norwegian contribution of up to $3 billion in loans over 10 years will not be disbursed.
At a gathering of ministers from rainforest-rich countries at London’s Kew Botanic Gardens last Tuesday in searing heat, UK climate minister Katie White praised the TFFF and said she had held a “robust conversation in government over the last few weeks” about the importance of forests and climate action.
She had argued, she said, that “this is not a nice to have – this is absolutely vital for our security and our prosperity”. She told the small crowd of visiting ministers, officials and forest campaigners at Kew that the TFFF was an “innovative and impactful development”.
