O President Luiz Inácio Lula da Silva said this Tuesday (4) that the climate finance needs to stop being based on donations and focus on investmentsas in the case of Tropical Forests Forever Fund (TFFF)which will be officially launched in Belém this week.
“We want to get out of . The donation is very important, but it always falls far short of what is needed. If they didn’t give us US$100 billion before, they won’t give us US$1.3 trillion now”, said Lula in an interview with reporters from international agencies in Belém.
The is a multilateral financing mechanism proposed to support the conservation of endangered forests using resources from public and private investors. The fund’s profits will be used to compensate investors, but also to pay countries for preserving their forests.
