Susanna Capelli The political climate is tense, and expectations are high for Brazil and the United Kingdom, particularly in light of the recent discussions at COP30. The main financing proposal, the Tropical Forests Forever Facility (TFFF), remains the focus of attention, but the lack of concrete commitments from London has left many high and dry.
Expectations on the TFFF
Despite the disappointments, Brazilian officials remain hopeful about potential UK funding. British Prime Minister Keir Starmer disappointed Brazilian representatives during his address at COP30 by failing to present any commitment to investing in the TFFF, an initiative conceived in Britain before being adopted as a proposal by the host countries.
The fund's potential
The TFFF is designed to generate returns on investments from donor countries and the private sector, with the goal of rewarding nations for every hectare of tropical forest they preserve. According to Brazilian officials, it is realistic to expect the fund to raise around $10 billion (£7,6 billion) in its first year of operation.
This figure is crucial, as Norway, currently the largest contributor, has conditioned its $3 billion commitment on this goal.
The UK's position
However, the UK has made it clear it does not intend to contribute financially ahead of the upcoming budget, in which Chancellor Rachel Reeves is expected to propose significant tax increases to address a public deficit. Garo Batmanian, head of the Brazilian Forestry Service and coordinator of the TFFF, expressed patience to POLITICO: "If an investment fund can raise $5,5 billion on its first day, that's a hugely important number."
Possibility of future changes
Batmanian added that, despite the UK's lack of immediate commitment, there is room for maneuver. "We're not asking for a gift, but for an investment that is treated differently in the budget. We understand that development aid funding may be limited, but there are other sources to consider." The hope is that, after the budget is approved, the UK will reconsider its position.
Reactions and perspectives
Some British representatives, while not completely closing the door on future collaboration, indicated that any decision would be reconsidered only after the difficult budget on November 26. Rachel Kyte, the UK's climate envoy, stated: "The decision not to contribute now does not imply a final refusal." In the context of domestic difficulties, the Honourable Uma Kumaran , a member of the Foreign Affairs Committee, confirmed that there are still opportunities for dialogue.
Reactions from other countries that have already offered funding have been disappointing, emphasizing that they were counting on British support. "The UK's situation has been very disappointing. We were counting on them," said an official from another donor country.
With the British Prime Minister preparing to attend COP30, the future of the TFFF remains uncertain but not without possibilities. Although British support seems distant, hope for a post-budget rethink remains, and Brazil continues to keep its doors open for future collaboration.