Brazil says rainforest fund is on track to hit $10 billion seed target

Brazil's environment minister, João Paulo Capobianco, said he is "very optimistic" that the Tropical Forest Forever Facility (TFFF), a fund designed to pay developing countries for keeping their forests standing, will meet its $10 billion seed-capital target by the end of 2026.

Speaking to Climate Home News on the sidelines of Climate Week in New York, Capobianco noted that governments have pledged $7.3 billion in under a year. "How many other initiatives can say that?" he said. Brazil is courting new contributors, including China, Japan and Korea, to close the remaining $2.7 billion gap.

Brazil launched the fund with Norway as co-lead at the 30th United Nations Climate Change Conference (COP30) in Belém last November. Rather than handing out grants, the TFFF plans to raise $125 billion in public and private capital, invest it in bond markets and pay forest nations from the returns.

Norway, the largest backer with a $3 billion pledge, set conditions: The fund must reach $10 billion in sponsor capital by 2026, and Norway's share cannot exceed 20%. Brazil and Indonesia have pledged $1 billion each, and the United Kingdom offered a £400 million (about $540 million) loan earlier this month. Critics say $10 billion barely covers the fund's costs, and experts do not expect payments to forest countries before 2028.

Capobianco said Brazil's Oct. 4 election, in which right-wing candidate Flávio Bolsonaro is challenging President Luiz Inácio Lula da Silva, poses no risk to the fund. "It's a global initiative, not a Brazilian initiative," he said.

This brief is based on reporting by Sebastian Rodriguez, published Sept. 29, 2026, in Climate Home News. Read the original: https://www.climatechangenews.com/2026/09/29/brazil-confident-new-rainforest-fund-tfff-10bn-fund-finance/