Brazil Opens Pre‑COP30 Leaders' Summit With Forests Fund Push as UK Bows Out

Overview

• Brazil launched the Tropical Forests Forever Fund with a $1 billion pledge and an expected Indonesian match, proposing World Bank administration and payments of about $4 per protected hectare.
• Bloomberg reported the United Kingdom will not invest in the fund, and Finance Minister Fernando Haddad is now targeting roughly $10 billion in public commitments in the first year.
• The COP29–COP30 presidencies presented the nonbinding “Roteiro de Baku a Belém,” a plan to mobilize about $1.3 trillion annually by 2035 through new taxes, SDR reallocations, and multilateral bank reforms.
• Organizers cite 143 delegations and 57 heads of state despite high‑profile absences, as Lula conducted a slate of bilaterals and received an EU signal toward a Mercosul–EU signing on December 20.
• Lula will travel to a Celac–EU meeting in Colombia on November 9 to express regional solidarity with Venezuela during U.S.–Venezuela tensions, according to Foreign Minister Mauro Vieira.