World leaders participating in a climate summit in Brazil have agreed to establish a fund aimed at conserving tropical forests.
The two-day summit, which began on Thursday in Belem on the Amazon River delta, brought together leaders from around 40 countries and regions ahead of the COP30 UN Climate Conference.
The leaders agreed to an initiative called the Tropical Forest Forever Facility, or TFFF, proposed by the Brazilian government. More than 50 countries and regions, including Japan, expressed support.
The fund aims to raise a total of $125 billion from both the public and private sectors.
Brazilian President Luiz Inacio Lula da Silva said the initiative would be significant for efforts to reduce greenhouse gas emissions. He cautioned that if forest destruction reaches an irreversible stage, the consequences would be felt worldwide.
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