The World Bank is expected to decide whether it will serve as secretariat and trustee of the Tropical Forest Forever Facility, or TFFF, during a meeting on Oct. 21, according to a document seen by Devex. Experts say the move would lend crucial legitimacy to the new fund.
The TFFF is a global initiative, spearheaded by Brazil, that’s designed to provide long-term, predictable financing for conserving and expanding tropical and subtropical moist broadleaf forests. Its key innovation is an investment-style financing model that aims to provide performance-based payments to tropical forest countries that successfully keep their forests standing, leveraging both public and private capital.
The same document indicated that the United Kingdom, Norway, and Germany are expected to make initial investments into the fund by Nov. 6.
About the author
Jesse Chase-Lubitz
Jesse Chase-Lubitz covers climate change and multilateral development banks for Devex. She previously worked at Nature Magazine, where she received a Pulitzer grant for an investigation into land reclamation. She has written for outlets such as Al Jazeera, Bloomberg, the Organized Crime and Corruption Reporting Project, and The Japan Times, among others. Jesse holds a master’s degree in Environmental Policy and Regulation from the London School of Economics.
