Overview
- Roughly 50 countries at the Belém climate summit agreed to establish the Tropical Forests Forever Facility, to be managed by the World Bank as an investment fund.
- Germany will contribute €1 billion over ten years, joining pledges of about $1 billion each from Brazil and Indonesia, roughly $3 billion from Norway, €500 million from France, and $1 million from Portugal.
- The financing model envisions around $25 billion in public risk capital to mobilize about $100 billion from private investors, who would receive priority on returns.
- Eligible nations must keep annual deforestation below 0.5%, with payments withheld or clawed back for noncompliance based on satellite monitoring.
- Diplomats, experts and NGOs question verification, credit ratings and achievable yields, even as groups such as Greenpeace and Germanwatch welcomed Germany’s move and WWF labeled the sum disappointing.