DUBAI (December 2, 2023) - On the second day of COP28 in Dubai, ministers Marina Silva and Fernando Haddad, together with ambassador André Corrêa do Lago, announced the launch of the 'Tropical Forests Forever' fund, a financial instrument for payment for standing forests, with contributions from countries with sovereign wealth funds, among other investors. The fund aims to encourage conservation and strongly discourage deforestation and forest degradation.  

The following is a statement from Mirela Sandrini, Director of Forests, Land Use and Agriculture, WRI Brasil:   

"For this Fund to be effective, it must align with countries’ existing environmental legislation. In the case of Brazil, it is essential that the Fund benefits indigenous and other local people who are guardians of territories with the largest forest cover and depend on the products and services from the forests. The fund’s focus on protecting the forest area rather than focusing on just avoiding carbon emissions ensures that biodiversity and other ecosystem services are treated as equally important goals. 

"The New Economy for the Brazilian Amazon, launched this year, shows that ending deforestation and keeping the forest standing will not restrict social and economic development in the region.  Quite the opposite: preserving forests is an opportunity for all sectors - to guarantee healthy food, reduce inequality by creating new jobs and grow the economy, while also protecting nature and improving the lives of local inhabitants in a fair and inclusive way. 

“This fund could be helpful in accelerating new partnerships that are taking shape with other countries in the Pan Amazon region, as well as restoration efforts in other biomes with significant forest potential, such as the Atlantic Forest.”