Even though Brazil has only managed to attract roughly 20% of its original financing target for a new forest conservation fund, the initiative should be considered a success, according to Barclays Plc’s group head of sustainable and transition finance.
Daniel Hanna said Brazil should get credit for designing the Tropical Forest Forever Facility in such a way that it has a clear and specific objective and it can pull in private sector capital alongside government money. TFFF is a flagship initiative of the COP30 climate summit that’s underway in the Amazonian city of Belém.
