Canada pledges $392.5M to Brazil-led global forest fund

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Mark Carney announces the four-year commitment during talks with Luiz Inacio Lula da Silva, backing an initiative designed to attract billions in investment to protect tropical forests.

Canada has pledged up to $392.5 million over four years to the Brazilian-led Tropical Forests Forever Facility, strengthening international efforts to finance the protection of tropical forests.

Canadian Prime Minister Mark Carney announced the commitment on Sunday during a meeting with Brazilian President Luiz Inacio Lula da Silva on the sidelines of the Association of Southeast Asian Nations summit in Manila.

The Canadian government said the funding would help the initiative meet its fundraising targets, launch operations and attract additional investment from public and private sources.

Launched at the COP30 climate summit in Brazil last year, the Tropical Forests Forever Facility aims to build a $125 billion fund, including around $100 billion in private-sector investment.

The initiative is designed to provide long-term financing for tropical forest conservation, with the Canadian contribution expected to help establish the financial base needed to expand its operations.

Canada said the pledge forms part of its broader commitment to provide more than C$13 billion in international climate finance to developing countries by 2031.

Carney and Lula also discussed strengthening bilateral cooperation in trade, critical minerals, energy and defence, according to the Canadian government.

The announcement highlights growing efforts to mobilise international public and private funding for forest protection and climate action, particularly in developing countries.

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