According to the Minister of Finance, TFFF and the carbon market coalition are two central projects under discussion within the scope of COP30
The Minister of Finance, , stated this Monday (3), that financing from the Tropical Forests Forever Fund (TFFF) should be seen as an investment, and not as a donation. The statement was made after a series of meetings during the COP30 Business & Finance Forum, an event promoted by Bloomberg Philanthropies.
According to Haddad, the TFFF and the carbon market coalition are two central projects under discussion within the scope of COP30. He highlighted, however, that the creation of this international coalition will still require “a lot of engineering” to get off the ground. “The TFFF is the issue for good countries. It’s not even a donation, it’s an investment. You remunerate the forests for the loans that will be made from the fund”, explained the minister.
Haddad also mentioned that several countries are expected to announce membership of the fund in the coming days and considered the initial fundraising target to be realistic. “If we finish the first year with US$10 billion, it would be a great achievement, because so far no one has put anything relevant on the table,” he stated. The minister avoided mentioning the countries that have already expressed interest, claiming that they prefer to make the announcements officially during COP30.
*With information from Estadão Conteúdo
