Indonesia and Brazil Highlight Innovative Financing Mechanism to Safeguard Tropical Forests
Jakarta, The Gulf Observer: Indonesia and Brazil have underscored the importance of the Tropical Forest Forever Facility (TFFF) as an innovative financing mechanism aimed at protecting tropical forests, which are vital for maintaining global climate balance and conserving biodiversity.
In a press release issued by UNDP Indonesia on Monday (October 20), Ida Bagus Made Bimantara, Director of ASEAN External Cooperation at Indonesia’s Ministry of Foreign Affairs, said the TFFF offers a creative financial model designed to help bridge the global climate funding gap.
“Supporting such initiatives is crucial to ensure that tropical forests remain standing and continue contributing to global climate stability and biodiversity conservation,” Bimantara emphasized.
Brazilian Ambassador to ASEAN Henrique Ferraro noted that the TFFF aligns closely with ASEAN’s vision of sustainable and inclusive growth toward a carbon-neutral future. He recalled that, on the sidelines of the UN General Assembly last month, Brazilian President Luiz Inácio Lula da Silva announced a US$1 billion contribution to the facility.
“This demonstrates the strong commitment of the Brazilian Government as both a beneficiary and an investing country,” Ferraro stated.
UNDP Resident Representative in Indonesia Sara Ferrer Olivella described the TFFF as a tangible example of how countries in the Global South are creating joint solutions to address shared environmental challenges.
“ASEAN countries, including Indonesia, play a vital role in shaping this innovative framework to ensure that climate and forest financing is transparent, reaches local communities, and promotes both human and sustainable development,” she said.
Olivella added that UNDP stands ready to assist countries in enhancing governance systems and institutional capacities to ensure that the mechanism benefits both people and the planet.
The TFFF, initiated by Brazil and developed in partnership with tropical nations and five sponsoring countries—with support from civil society, indigenous peoples, and the private sector—provides incentives for tropical countries to protect and conserve their forests.
Participating tropical countries include Indonesia, Malaysia, Colombia, the Democratic Republic of the Congo, and Ghana, while the sponsoring nations are France, Germany, Norway, the United Arab Emirates, and the United Kingdom.
The mechanism aims to establish long-term, sustainable incentives for tropical forest nations, ensuring that significant resources are directed to those protecting and restoring forests on the ground—particularly indigenous peoples and local communities.
