In a press release issued by UNDP Indonesia on Monday (Oct. 20), Ida Bagus Made Bimantara, Director of ASEAN External Cooperation at Indonesia’s Foreign Ministry, said the TFFF offers a creative financial model to help bridge the climate funding gap.
“Supporting such initiatives is crucial to ensure that tropical forests remain standing and continue contributing to global climate stability and biodiversity conservation,” Bimantara said.
Meanwhile, Brazilian Ambassador to ASEAN Henrique Ferraro said the TFFF initiative aligns with ASEAN’s aspirations for sustainable and inclusive growth toward a carbon-neutral future.
Ferraro noted that, on the sidelines of the UN General Assembly last month, Brazilian President Luiz Inacio Lula da Silva announced that Brazil would contribute US$1 billion to the TFFF.
“This demonstrates the strong commitment of the Brazilian Government as both a beneficiary and an investing country,” he added.
UNDP Resident Representative in Indonesia Sara Ferrer Olivella stated that the TFFF is a concrete example of how countries in the Global South are developing solutions to address their shared challenges.
“ASEAN countries, including Indonesia, play a vital role in shaping this innovative framework to ensure that climate and forest financing is transparent, reaches local communities, and drives both human and sustainable development,” she said.
Olivella added that UNDP stands ready to support countries in strengthening governance systems and institutional capacities to ensure the mechanism benefits both people and the planet.
Initiated by Brazil and developed in collaboration with tropical countries and five sponsoring nations - with support from civil society, indigenous peoples, and the private sector - the TFFF provides incentives for tropical countries to protect and conserve their forests.
The participating tropical countries are Indonesia, Malaysia, Colombia, the Democratic Republic of the Congo, and Ghana. The sponsoring countries include France, Germany, Norway, the United Arab Emirates, and the United Kingdom.
The mechanism aims to provide long-term, sustainable incentives for tropical forest nations, ensuring that substantial resources reach those who protect and restore forests on the ground, particularly indigenous peoples and local communities.
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Translator: Cindy Frishanti Octavia
Editor: Primayanti
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