Brazil Proposes a New Type of Fund To Protect Tropical Forests

Brazil is set to announce Thursday the establishment of a multibillion-dollar fund designed to pay countries to keep their tropical forests standing. The Tropical Forest Forever Facility would deliver $4 billion per year to as many as 74 countries that maintain their forest cover. The fund requires $25 billion from governments and philanthropies to begin operations. Private investors would contribute the remaining $100 billion. Brazil has committed $1 billion. Countries would receive around $4 per hectare of standing forest after using satellite imagery to verify forests remain in place. Nations with annual deforestation rates above 0.5% are ineligible for payouts. Indonesia, which has rapidly lost forests to palm-oil cultivation and mining, cannot participate. One-fifth of the payments are designated for forest communities. The World Bank is managing the fund.

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