Great to see the commitments made by the UK government today to tackle the global deforestation crisis. The rapid destruction of the world's forests is fuelling climate change now, with consequences already being felt here in the UK and around the globe. The Tropical Forest Forever Facility - TFFF is a global effort, led by the government of Brazil, that aims to provide a long-term source of finance for countries that keep their tropical forests standing. By backing the TFFF, the UK is helping to incentivise nations to keep their forests standing. Thank you to all supporters who wrote to their MPs to help make this happen. Following recent progress on due diligence measures, today's announcement shows that momentum is growing behind efforts to end deforestation and protect the world's forests. Celebrating the UK Government's announcement with our colleagues Mauricio and Mariana from WWF-Brasil! Kate Norgrove, Mike Barrett, Gavin Crowden, Bel Lyon, Amy Whight #NatureFinance #ForestFinance #TFFF
Really interested to know more about this: "the Facility is designed to generate investment returns from its performance-based model, enabling it to both repay investors and reward countries that successfully protect tropical forests." How does this work? Carbon offsetting schemes / timber?
✅ The Tropical Forest Forever Facility - TFFF gets the incentives right. ❌ Its funding is where it breaks. If speculating with a loan on financial markets reliably made billions — the core claim behind the TFIF — donor countries could be solving their budget crises the same way. Yet, unfortunately, capitalism is more complicated than that. 🔬 Michael Liebreich, who founded BloombergNEF, read the Norwegian risk analysis and wrote: "Based on what I see, I would be furious if my Government became a sponsor without a lot more robust analysis." 🏛️ His government then declined. The UK helped design the TFFF and put in nothing at COP30. ODI Global's Michael Jacobs explained why: "The sad truth is that the U.K. government didn't feel quite comfortable enough at a technical level to invest in the fund." Ten months on, nobody has said in public what those concerns were, or what resolved them. The £400m arrived anyway. 🎯 If you want to know why the TFFF might go bankrupt before relevant money ever reaches the forests, how the promising proposal could be put on firmer ground, and especially if you think I have it wrong, follow and comment on [Missing Billions]. https://shorturl.at/XXV52
Thanks Tanya! It was fantastic to be able to celebrate this really important announcement from the UK Government for TFFF with you and your team in your beautiful office! A very important step today, but still a lot of work ahead to make TFFF an effective mechanism to eliminate deforestation of tropical forests asap. Very glad we’re together on this!!
Congratulations to the whole WWF team - in Brazil, the UK and across the world - who have led the campaign for the TFFF and its capitalisation. A great milestone to have the UK properly onboard at last!
Tanya Steele CBE Great news and well done to you and the team.
Congratulations WWF UK and Brazil team. Absolute dream team in that picture!!!
I enjoyed being sat in the meeting room behind you whilst this celebration was happening. Such great news and such important and inspiring work!
Well done!
Read the announcement here: https://www.gov.uk/government/news/investment-boost-for-climate-action-and-forest-protection