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