"As a battle-scarred veteran of the war against nature, Garo Batmanian has spent 45 years trying to defend the Amazon rainforest. For most of that time, the resistance he leads has been outfunded and outgunned by those who profit from destruction. The most Batmanian felt he could achieve was to slow the advance of the chainsaws and tractors. But the director-general of Brazil's forest service feels there could be a chance at the Cop30 climate summit in Belem, Brazil,"
"Its success depends on buy-in from governments and financial institutions that until now have directed their funds towards destruction. Championed by Brazil's globally respected environment minister, Marina Silva, and drawn up with advice from the World Bank, London financial consultants and several governments, the TFFF aims to disrupt the financial logic for deforestation by raising $125bn (95bn), investing it in bonds, and paying out the returns as a reward for countries and communities that conserve their standing forests."
Garo Batmanian has spent 45 years defending the Amazon and has mostly been outfunded and outgunned, managing chiefly to slow chainsaws and tractors. The Tropical Forest Forever Facility (TFFF) is a proposed $125bn fund to disrupt the financial drivers of tropical deforestation by investing capital in bonds and using returns to reward countries and communities that conserve standing forests. The World Bank has agreed to host the facility. Brazil and Indonesia have pledged investments; several countries have expressed positive interest while the UK so far will not contribute. The plan requires broader government and financial-sector buy-in at COP30 to succeed.
Read at www.theguardian.com
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