During the COP16 in Cali, officials from countries around the world stated their support for the Tropical Forests Forever Facility, an initiative from the Brazilian government to pay for the maintenance and restoration of tropical forests that was first presented at COP28.
First, we find this instrument to be structured in a rather imbalanced way to favour rich countries; we also find that critical conservation funding for tropical forests should not be conditional upon betting on stock market future prices and other financial gambles. We fear as well that such an instrument will be instrumentalised by rich countries to derail any serious loss and damages and conservation funding requests from the global South.
In addition to these concerns, this fund raises several questions.