Lula Tackles “Unmet Promises” of Past Summits with New $5.5B Forest Fund

Brazil’s President Luiz Inácio Lula da Silva is using the Belem summit to directly confront the “unmet promises” of previous climate talks. His answer is a new, concrete financial mechanism: the “Tropical Forests Forever Facility,” which has already attracted $5.5 billion in pledges.
For years, developing nations have been promised funding to help them preserve forests and transition to green economies, but much of that funding has not materialized. Lula’s proposal is designed to break this cycle of broken promises.
The fund’s key difference is its financing. Instead of relying on fluctuating donations, it will be capitalized by interest-bearing debt from wealthy nations and commercial investors. This creates a stable, long-term economic incentive for 74 developing countries to halt deforestation.
The plan has received a massive vote of confidence from Norway, which pledged $3 billion. Germany is expected to follow, giving Lula’s ambition to “advance” past failures a real chance of success.
Furthermore, the fund addresses another past failure: the exclusion of frontline communities. The rules mandate that 20 percent of all money goes to Indigenous peoples. This practical, finance-first approach is Lula’s solution to a problem that past summits have only talked about.