$5.5B Pledged for Brazil’s “Tropical Forests Forever” Plan at Belem Summit

Financial momentum is building at the Belem climate talks, as Brazil’s proposal for a new rainforest protection fund has secured $5.5 billion in initial pledges. The “Tropical Forests Forever Facility,” championed by President Luiz Inácio Lula da Silva, is designed to mobilize finance to halt deforestation.
The largest commitment of the day came from Norway, which pledged $3 billion. Germany is also expected to announce a significant contribution when Chancellor Friedrich Merz meets with Lula, signaling strong European support for the initiative.
The fund aims to pay 74 developing countries to keep their tropical rainforests standing. This is a critical climate solution, as these forests absorb vast amounts of carbon dioxide. The summit’s location in the Amazon city of Belem highlights the urgency of this mission.
A key innovation of the fund is its reliance on interest-bearing debt from wealthy nations and investors, rather than just donations. This model seeks to make preservation a more profitable and sustainable choice for governments than allowing destructive industries to operate.
The fund also includes a strong social justice component, with 20 percent of the money earmarked for Indigenous peoples, who have protected these lands for centuries. This progress comes despite the worrying absence of leaders from the world’s top three polluting nations.