Brazilian President Luiz Inácio Lula da Silva hosted world leaders at the COP30 Leaders’ Summit in Belém on Friday to launch the Tropical Forest Forever Facility (TFFF)—a landmark initiative aimed at creating permanent financial incentives to preserve the world’s tropical forests.

The high-level event, held during the Belém Climate Summit, brought together representatives from more than 30 nations, including tropical forest countries and donor states, alongside UN Secretary-General António Guterres and a World Bank delegate.

The launch was marked by the adoption of the TFFF Launch Declaration, which has received endorsements from 53 countries, including 19 potential sovereign investors. In total, 34 tropical forest nations have signed on, collectively representing over 90 percent of the tropical forests in developing countries, including Indonesia, the Democratic Republic of Congo, and China.

The facility aims to address global market failures by assigning economic value to the ecological services provided by tropical forests—such as carbon storage and biodiversity protection—and by paying nations to maintain, rather than exploit, these ecosystems.

Funding pledges announced at the event reflected strong international support: Norway committed US$3 billion over the next decade, Brazil and Indonesia reaffirmed their commitment of US$1 billion each, Portugal pledged US$1 million, and the Netherlands contributed US$5 million to support the TFFF Secretariate.

France indicated that it may commit up to €500 million by 2030, subject to certain conditions, while Germany endorsed the initiative, with financial details to be finalized in talks between President Lula and Chancellor Friedrich Merz.

Describing the launch as a turning point, President Lula said, “The Tropical Forest Forever Facility we are launching today is an unprecedented initiative. For the first time in history, countries of the Global South will take a leading role in a forest agenda.” He added that it was symbolic that the event took place in Belém—“in the heart of the Amazon rainforest”—where the world’s largest tropical forest stands as both inspiration and warning.

Brazil’s Environment and Climate Change Minister Marina Silva hailed the TFFF as a transformative step in global conservation policy. “For the first time, we have a mechanism that recognises the value of forest ecosystem services and offers permanent incentives for their preservation,” she said. “It is a collective achievement that places Brazil at the centre of lasting climate solutions.”

The TFFF, described as a “historic paradigm shift,” is expected to strengthen collaboration between governments and the private sector to fund long-term conservation and climate resilience strategies, anchoring the Amazon’s future at the heart of global environmental finance.