The United Nations Environment Programme (UNEP) has said that the recently launched Tropical Forest Forever Facility (TFFF) will tackle carbon emissions.
This is contained in a statement issued recently by the UNEP Executive Director, Mrs. Inger Andersen, on the closing of the 30th Conference of Parties in Belem, Brazil.
According to her, TFFF now stands at $6.7 billion and pursues rapid, high-impact measures such as cutting methane emissions.
“The Action Agenda, the foundation to such an inclusive COP from the Brazil Presidency, saw unprecedented Indigenous Peoples leadership from the Amazon and across the world.
“This reinforced momentum is coming from all sources, including businesses, cities and regions, local communities, civil society, women, people of African descent, youth, and many more.
”UNEP will continue our work to support all partners who deliver the promise of the Paris Agreement, for people and for the planet,” Andersen said.
She explained that the talks in Belém had shown that the Paris Agreement is working and delivering results, including a call to triple adaptation finance by 2035.
”A Just transition mechanism to ensure the emerging green economy benefits everyone, and new dialogues on how trade can support climate-resilient economic transformation and how to integrate the protection of mountains into climate policy.
”UNEP science and data reinforce the significant size of the challenge ahead, but equally reinforces proven solutions exist and a pathway remains to meet our global commitments.
“No one is saying this will be easy or we are on track. We must do much more, move much faster, and stretch our collective ambition even further,” Andersen said.
According to her, countries should see their new national climate plans as a baseline to build on, not a ceiling for ambition.
“Keeping 1.5°C within reach requires an accelerating era of implementation at an unprecedented rate to deliver the benefits people deserve- affordable clean energy, good jobs, clean air, and a safer, more resilient future for all.
”And as escalating climate impacts continue to spare no nation, we have to better finance, implement and prioritise adaptation efforts.
“But COP30 also reinforced the growing global momentum, both in and outside of the negotiating halls, to transition away from fossil fuels as agreed in Dubai at COP28, halt deforestation,” Anderson said.
The COP30 Leaders’ Summit in Belém, the Brazilian COP30 presidency has formally launched the Tropical Forests Forever Facility (TFFF), a mechanism to provide long-term, predictable financing to countries that protect and sustainably manage their tropical forests.
After initial contributions from Brazil, Indonesia, Norway and Portugal announced funding pledges so far, though almost 50 countries expressed support for the initiative. Brazil has set a $125 billion target for the TFFF, and aims to raise $10 billion initially from governments and philanthropies, which would spur further investments from private, corporate and philanthropic investors.
