Congratulations to our partners BVRio, and Amazônia 2030 and Instituto Igarapé on the release of the Tropical Forests Mechanism concept note. Excellent work 👏 #forestprotection #conservation #forests #tropicalforestsmechanism #globalpledgefortropicalforests
Today, together with the Amazônia 2030 initiative and Instituto Igarapé, we are proud to announce the publication of the concept note on a Tropical Forests Mechanism (TFM) to provide a framework to attract and deploy conservation finance for the world’s tropical forests. The mechanism is expected to complement the Brazilian government's Tropical Forests Forever Fund (TFFF), announced at COP28 UAE, to secure funding to protect rainforests in the Amazon region, Congo Basin, and Southeast Asia. View the full concept note via this link: https://lnkd.in/eE8T--wV “Tropical forests provide ecosystem services of inestimable value to humanity and are at the same time victims and heroes of climate change. We need an agile and simple global mechanism that mobilises large amounts of resources to protect and restore tropical forests. This is the core of the Tropical Forest Mechanism proposal” – Tasso Azevedo, Former General Director of the Brazilian Forest Service, collaborator of Amazônia 2030. “We know that the ecosystem services the planet provides, on which more than half of the world's GDP depends, are invaluable. Yet, to avoid the tipping point of tropical forests, we need to create financial instruments to promote conservation and restoration. The Mechanism presented here is another tool that, like the TFFF, advances by offering a financial solution that, to cover the opportunity cost of land uses resulting in forest degradation, incentivises the conservation of standing forests and more effectively rewards those who protect them." – Ilona Szabó de Carvalho, Instituto Igarapé Co-founder and President. "At a moment when most financial mechanisms for the protection and maintenance of forests are proving to have limited potential for sourcing and deploying capital at scale, the Global Pledge for Tropical Forests provides an alternative approach that could be pursued to avert catastrophic losses of tropical forests worldwide." – Pedro Moura Costa, BVRio Director and Co-founder. #greenfinance #tropicalforests #conservation