Tropical countries from Cameroon to Colombia could earn tens of millions of dollars a year under a novel approach to protecting the world's rainforests being launched at the COP30 summit in Brazil.
The inauguration of the Tropical Forests Forever Facility is expected Thursday as global leaders meet in the Brazilian Amazon, where this year's U.N. climate negotiations are being held.
Brazil is courting $125 billion from governments and private financiers for a global investment fund that proposes making annual payments to developing countries for every hectare of forest they keep standing.
The scheme has attracted some early interest, but investors have been less forthcoming.
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