The UK will not contribute to a flags fund for the rest of the tropical forests, in a bitter blow to the hosts of Brazil at the Cop30 Summit in Cop30.
Keir Starmer flew to Belém, at the mouth of the Amazon, on Wednesday to participate in a summit of world leaders hosted by the president of Brazil, Lulada da Silva.
The key announcement for Brazil at the Summit of Leaders on Thursday, which is taking place a few days before the start of the Climate Cop30 UN is the Tropical Forests Fest Facility Sumity (Tfff).
This fund aims to raise $125bn for governments and local communities that protect existing forests, such as the Amazon and the Congo Basin. Lula hopes to raise $ 25bn from public sources, mainly developed countries attending Cop30, with the rest from the private sector and the financial market.
But he is having trouble persuading governments to break even, many of which have already cut their aid budgets, to provide money. Under Joe Biden, the US is seen as a possible adviser, but with Donald Trump as President that will not happen.
The UK’s decision will be a major setback, as Britain has previously played a major role in halting digging. “The Brazilians are pouring in,” a source told the Guardian.
However, the guardian understands the street may consider contributing directly to the fund in the future. TFFF is considered to be at a very early stage at the moment, and there are concerns about how it will work in practice. The UK contributes to the financial structure underlying the fund, but not directly to the fund itself, despite Brazil urging it to do so for months.
Norway is likely to remain steadfast in its commitment to the TFFF, but the Guardian understands that the German government may also back down.
The decision of the UK is embarrassing to Prince William, who is in Brazil to present the country with pride, where tfff is nominated.
Zac Grdsmith, the conservative minister and climate minister under Boris Johnson, who led the UK’s efforts to reduce Cop26 in Glaassiw, told the UK War. “The UK helped design the fund, which got forests at the top of the agenda when we hosted a one-dimensional carbon accounting and walked away.
TXF Carpenter believes that the best way to preserve threatened forests around the world. “Finally there is a plan on the table to save the rest of the tropical forests, where we are all instigating or a fund, and the majority – the majority – the majority – the majority – in the private sector,” he said.
“The fund will last in perpetuity and will provide returns to investors as well as annual income to those forest countries that protect their forests. At a time of reduced availability of funds, and increased decimation of the great forest basins, this is as close as you get to win-win.”
He accused the UK government of trying to persuade Germany not to invest, which the UK denied.
Green groups criticized the decision. Tanya Steele, chief executive of WWF-UK, said:
He added: “That said – and about the UK, as one of the richest countries in the world, we do not inform the bad countries. We urge the Prime Minister to change the advanies.
Zoe Quiroz Cullen, Director of Climate and Nature Links of the organization to preserve Fauna and after the suspension of the launch of the Provely of the Head of the Government, while others, including the Global South, step.
“The irony and injustice of this should not be lost. We need all the tools we can to solve the double chanimeling finance, and TffF offers an additional way to channel the lungs of our planet, while the protesis of a planet on our planet, while the protesis to deal with the lungs of our planet, while the protesis of a planet of our planet, while the protesis of a planet of our planet, while promising a panic on our planet on our planet.”