Overview
- Germany’s development and environment ministers announced the commitment at the UN climate conference in Belém.
- The Tropical Forest Forever Facility rewards verified forest conservation and foresees penalties for deforestation monitored by satellite imagery.
- Norway has announced $3 billion over ten years, while Brazil and Indonesia plan $1 billion each, with additional pledges reported from France and Portugal.
- An 18-country executive council will direct the fund, and the World Bank will serve as interim trustee and host a dedicated secretariat.
- Initial commitments at launch were about $5.5 billion, and Brazil has outlined a long-term funding target of $125 billion.