At the 17th BRICS Summit in Rio de Janeiro, member states officially endorsed Brazil’s Tropical Forests Forever Fund (TFFF), hailing it as a breakthrough model for climate finance. The initiative, designed to deliver predictable, performance-based payments to countries preserving tropical forests, aims to shift global climate action from promises to concrete results.
Set to be launched at COP30 in Belém this November, the TFFF stands apart from traditional climate finance tools. Instead of relying on donations or carbon offsets, it functions as a revenue-generating investment fund, paying countries based on the area of intact tropical and subtropical moist forest.
Verification will be done via satellite imagery, and penalties will apply for any forest degradation.
President Luiz Inácio Lula da Silva emphasized the fund’s strategic potential during the summit: “The Tropical Forests Forever Fund, which we will launch at COP30, will provide remuneration for the ecosystem services rendered to the planet.”
He added that the new BRICS Climate Finance Framework outlines “alternative models for climate financing” beyond traditional donor mechanisms.
A core principle of the TFFF is inclusion. At least 20% of national payments will be allocated to Indigenous Peoples and traditional communities, recognizing their critical role in forest protection.
“The Global South has conceptualized and is building an instrument that will leverage public resources to mobilize private financing at a ratio of 1 to 4,” said Brazil’s Environment and Climate Change Minister Marina Silva. “This initiative will make a decisive contribution to the planet’s climate regulation.”
According to Brazil’s BRICS Presidency, the TFFF is expected to mobilize approximately $4 billion annually. This is up to four times more than what is typically available through national environment ministries or the voluntary carbon market.
The Rio Declaration called on donor countries to make ambitious pledges to operationalize the fund by COP30. It also reaffirmed BRICS’ call for developed countries to fulfill their Paris Agreement commitments, including mobilizing $300 billion annually by 2035 for climate adaptation and mitigation in the Global South.
With the endorsement of the TFFF, BRICS is signaling a shift in global climate leadership—one rooted in measurable impact, financial innovation, and inclusive stewardship of the world’s most vital ecosystems.
