UK Abandons Flagship Fund for Tropical Forests, Deal Blows to Climate Summit Host Brazil
In a shocking move, the UK government announced it would not contribute to a $125 billion fund aimed at protecting the world's remaining tropical forests. The fund, known as the Tropical Forests Forever Facility (TFFF), was touted by Brazilian President Luiz Inácio Lula da Silva as a key component of his country's efforts to combat climate change and preserve the Amazon rainforest.
The decision comes just days before the start of the main Cop30 UN climate summit in Brazil, where world leaders will gather to discuss pressing environmental issues. The UK's refusal to contribute to the fund has been met with disappointment and frustration from Brazilian officials, who had been counting on developed countries like the UK to provide significant financial support.
The TFFF is designed to raise funds for governments and local communities that protect existing forests, such as the Amazon and the Congo basin. Brazil hopes to secure $25 billion in public funding, mostly from developed countries attending Cop30, with the remaining amount coming from private investors and financial markets. However, it appears that the UK government has lost faith in the project, citing concerns about its effectiveness.
Critics of the decision point out that the TFFF is an innovative finance mechanism that could quadruple the amount of money available to protect the world's forests and underpin food security at a time when rising food prices are hitting consumers hard. Green groups like WWF-UK and Fauna & Flora have called on the UK government to reconsider its decision, urging Prime Minister Rishi Sunak to invest in the fund.
The move has also embarrassed Prince William, who is in Brazil presenting the Earthshot prize, for which the TFFF is nominated. Conservative peer Zac Goldsmith, who led UK efforts on deforestation at the Cop26 summit in 2021, accused the government of "one-dimensional carbon accounting" and making a "mistake" by abandoning the fund.
The decision highlights the challenges faced by climate policy in Britain under Prime Minister Sunak's leadership. As the world grapples with pressing environmental issues, it remains to be seen whether the UK will step up its efforts to support global initiatives like the TFFF.
In a shocking move, the UK government announced it would not contribute to a $125 billion fund aimed at protecting the world's remaining tropical forests. The fund, known as the Tropical Forests Forever Facility (TFFF), was touted by Brazilian President Luiz Inácio Lula da Silva as a key component of his country's efforts to combat climate change and preserve the Amazon rainforest.
The decision comes just days before the start of the main Cop30 UN climate summit in Brazil, where world leaders will gather to discuss pressing environmental issues. The UK's refusal to contribute to the fund has been met with disappointment and frustration from Brazilian officials, who had been counting on developed countries like the UK to provide significant financial support.
The TFFF is designed to raise funds for governments and local communities that protect existing forests, such as the Amazon and the Congo basin. Brazil hopes to secure $25 billion in public funding, mostly from developed countries attending Cop30, with the remaining amount coming from private investors and financial markets. However, it appears that the UK government has lost faith in the project, citing concerns about its effectiveness.
Critics of the decision point out that the TFFF is an innovative finance mechanism that could quadruple the amount of money available to protect the world's forests and underpin food security at a time when rising food prices are hitting consumers hard. Green groups like WWF-UK and Fauna & Flora have called on the UK government to reconsider its decision, urging Prime Minister Rishi Sunak to invest in the fund.
The move has also embarrassed Prince William, who is in Brazil presenting the Earthshot prize, for which the TFFF is nominated. Conservative peer Zac Goldsmith, who led UK efforts on deforestation at the Cop26 summit in 2021, accused the government of "one-dimensional carbon accounting" and making a "mistake" by abandoning the fund.
The decision highlights the challenges faced by climate policy in Britain under Prime Minister Sunak's leadership. As the world grapples with pressing environmental issues, it remains to be seen whether the UK will step up its efforts to support global initiatives like the TFFF.
I get why they're worried about the fund being effective, but like, what's the harm in trying new things? It sounds like they've just lost faith, which is a shame 
. Prince William is gonna be so disappointed, and I feel for him 
. Zac Goldsmith knows his stuff when it comes to deforestation, so he's got a point about the UK being one-dimensional on carbon accounting...idk man, can't we just try a little harder? 
they gotta be outta their mindz!!! dey abandon a $125 billion fund 2 protect tropical forests wen climate change is gettin worse by da day!! Prince William's Earthshot prize is all about savin da planet, but it looks like his own government is failin him 
& now brazil's gonna have ta bear da brunt of not havin dat kind of support dey need 2 save dem forests, not cool 
i mean, they're supposed to be all about saving the planet and now they're abandoning a fund that could make a real difference? 
it's just so frustrating when you see developed countries like the UK not pulling their weight when it comes to climate change. 
what's the point of having a Cop summit if no one is going to contribute to the cause? 
and Prince William is just standing there looking all proud with his Earthshot prize, meanwhile the actual work gets done by others... 
it's gotta be more than just words, we need action! 
but now he's got a big ol awkward situation going on 
what even is "one-dimensional carbon accounting" 
And poor Prince William - he was all excited about this Earthshot prize, only to see his country abandon the very fund that was supposed to support it. 
Not impressed with the UK government's decision-making skills, if you ask me... 
that the UK pulled out of the Tropical Forests Forever Facility 
. I mean, come on, we're talking about a $125 billion fund here! That's some serious cash 
, and this is just another example of how we're failing to step up our game 
. I'm really worried about what this means for the Amazon rainforest 
and all the communities that depend on it 
. Let's hope Prince William can use his platform to make some noise about this 
. I think it's a huge shame cuz this fund was supposed to help with climate change and stuff 
. We need more countries like the UK to support these kinds of initiatives, not less 
. And poor Prince William... he had his Earthshot prize all set up for Brazil and now it's all gonna get screwed 
.
but the UK just bailed on them 
. The gov is playin' it cool but I think there's more to this story. Maybe they're worried about gettin' their hands dirty with some of that climate change cash 
.
Anyway, it's all so frustrating! 
... honestly, I'm not really sure about this at all 
is it just an excuse to get outta paying up? 
. The UK government's decision may be attributed to concerns about the TFFF's effectiveness, but it raises questions about the priorities and values of the current administration