President Luiz Inacio Lula da Silva announced the contribution to the Tropical Forests Forever Facility during a United Nations event on Tuesday.
The initiative represents Brazil’s primary deliverable for the upcoming COP30 climate summit it will host in Belem this November.
He urged other nations to present equally ambitious contributions to make the fund operational by COP30.
Sources indicated the move seeks to break deadlocks in global climate financing discussions.
She described the fund as an innovative global south-led initiative marking a turning point.
He emphasised the need to rapidly expand sponsor countries for the fund to reach its potential.
Germany, Singapore, and the United Arab Emirates have also indicated backing for the initiative.
It would combine sovereign and private sector contributions managed through annual stipends.
Brazil must first secure 25 billion dollars from governments and major philanthropies.
The fund represents a significant step in global efforts to combat deforestation and climate change. – Reuters
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