The German government is currently evaluating participation in a novel financial instrument designed to safeguard tropical forests.
The “Tropical Forest Forever Facility” (TFFF) aims to provide reliable financial payments to up to 74 tropical forest nations for the preservation of over one billion hectares of forestland. According to sources within the Federal Ministry for Economic Cooperation and Development, “Brazil has presented an innovative proposal for international forest protection with a strong emphasis on the self-responsibility of forest-owning nations and substantial private sector involvement.
Development Minister Reem Alabali-Radovan is reportedly pushing for a financing concept outlining Germany’s contribution to the fund, which is projected to receive $25 billion from donor countries and up to $100 billion from private investors.
A significant portion of the revenue generated is intended to be disbursed to tropical nations, with a minimum of 20 percent specifically allocated to indigenous and local communities. Conservation groups have voiced support for the initiative. Brian O’Donnell of the Campaign for Nature stated that the TFFF “could become the primary source of revenue for forest protection in many countries.
The feasibility and implementation of the TFFF will be determined at the upcoming climate conference in Brazil this November.
