Britain will provide a $541.04 million loan to the Tropical Forests Forever Facility (TTFF), a Brazil-led initiative designed to finance the protection of endangered forests.
Brazil launched the initiative last year at the COP30 UN climate summit with an ambition to raise $10 billion of public money in its first year, and has so far secured almost three-quarters of that target.
The TFFF was presented as an innovative model under which the fund is managed like an endowment and pays eligible countries annual stipends based on how much of their tropical forests remain standing.
Britain backed the concept during the summit but did not make an initial taxpayer-funded contribution, with then-prime minister Keir Starmer’s government under pressure about how it would balance the books at home.
New Prime Minister Andy Burnham, who has focused even more tightly on easing domestic cost-of-living concerns since coming to power in July, has since said some of Britain’s international climate contributions should be made in the form of loans, not grants.
The WWF-Brazil, called the UK’s commitment ‘very significant’.
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