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Brazil leads push for novel forest finance mechanism ahead of COP30 summit

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As nations struggled during Climate Week (Sept 21-28) in New York City to increase their emission-reduction pledges to slow the alarming rate of global warming, Brazil stepped forward to support and showcase a novel, innovative plan of its own design to incentivize the protection of carbon-absorbing tropical forests around the world. Representatives from more than two dozen countries looked on at the United Nations on Tuesday, September 23, as Brazilian President Luiz Inácio Lula da Silva announced that his nation will invest the first $1 billion in the Tropical Forest Forever Facility (TFFF), a planned $125 billion fund that Lula and Brazilian finance experts first described in 2023. “TFFF is an unprecedented tool in this fight against climate change,” said Lula, emphasizing that Brazil is leading by example. “Tropical forests are critical to keeping alive the [goal] of limiting global warming to 1.5° [Fahrenheit above pre-industrial levels]. The TFFF is not a charity; it’s an investment in humanity and the planet to counter the threat of climate chaos.” The fund — in which $25 billion is to come initially from sovereign nations, with $100 billion coming later from private investors — is expected to be a centerpiece of the 30th UN climate summit (COP30) in Belém, Brazil from Nov. 10-21. Described as a climate-action fund like no other, TFFF will work in ways similar to how banks operate as lenders. Instead of donations, the billions committed will be invested in capital markets with investors receiving an estimated annual return of…This article was originally published on Mongabay

Environment

Brazil leads push for novel forest finance mechanism ahead of COP30 summit

Published

on

This post was originally published on this site.

As nations struggled during Climate Week (Sept 21-28) in New York City to increase their emission-reduction pledges to slow the alarming rate of global warming, Brazil stepped forward to support and showcase a novel, innovative plan of its own design to incentivize the protection of carbon-absorbing tropical forests around the world. Representatives from more than two dozen countries looked on at the United Nations on Tuesday, September 23, as Brazilian President Luiz Inácio Lula da Silva announced that his nation will invest the first $1 billion in the Tropical Forest Forever Facility (TFFF), a planned $125 billion fund that Lula and Brazilian finance experts first described in 2023. “TFFF is an unprecedented tool in this fight against climate change,” said Lula, emphasizing that Brazil is leading by example. “Tropical forests are critical to keeping alive the [goal] of limiting global warming to 1.5° [Fahrenheit above pre-industrial levels]. The TFFF is not a charity; it’s an investment in humanity and the planet to counter the threat of climate chaos.” The fund — in which $25 billion is to come initially from sovereign nations, with $100 billion coming later from private investors — is expected to be a centerpiece of the 30th UN climate summit (COP30) in Belém, Brazil from Nov. 10-21. Described as a climate-action fund like no other, TFFF will work in ways similar to how banks operate as lenders. Instead of donations, the billions committed will be invested in capital markets with investors receiving an estimated annual return of…This article was originally published on Mongabay
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Environment

Brazil leads push for novel forest finance mechanism ahead of COP30 summit

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on

This post was originally published on this site.

As nations struggled during Climate Week (Sept 21-28) in New York City to increase their emission-reduction pledges to slow the alarming rate of global warming, Brazil stepped forward to support and showcase a novel, innovative plan of its own design to incentivize the protection of carbon-absorbing tropical forests around the world. Representatives from more than two dozen countries looked on at the United Nations on Tuesday, September 23, as Brazilian President Luiz Inácio Lula da Silva announced that his nation will invest the first $1 billion in the Tropical Forest Forever Facility (TFFF), a planned $125 billion fund that Lula and Brazilian finance experts first described in 2023. “TFFF is an unprecedented tool in this fight against climate change,” said Lula, emphasizing that Brazil is leading by example. “Tropical forests are critical to keeping alive the [goal] of limiting global warming to 1.5° [Fahrenheit above pre-industrial levels]. The TFFF is not a charity; it’s an investment in humanity and the planet to counter the threat of climate chaos.” The fund — in which $25 billion is to come initially from sovereign nations, with $100 billion coming later from private investors — is expected to be a centerpiece of the 30th UN climate summit (COP30) in Belém, Brazil from Nov. 10-21. Described as a climate-action fund like no other, TFFF will work in ways similar to how banks operate as lenders. Instead of donations, the billions committed will be invested in capital markets with investors receiving an estimated annual return of…This article was originally published on Mongabay
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Long-lost white shark tag traces remarkable journey from South Africa to SE Asia

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In May 2012, a satellite transmitter was attached to a subadult female white shark (Carcharodon carcharias) by OCEARCH as part of its shark expeditions in Gansbaai, a fishing town in Western Cape, South Africa. Twelve years and 37,178 kilometers (23,101 miles) later, a fisherman in Indonesia handed over the tag to Project Hiu, a local NGO. The tag belonged to a shark named Alisha, whose long journey had ended in 2016 in the longline gear of the fisherman in East Lombok, where she was originally misidentified as a mako shark (Isurus paucus). In 2024, when the fisher finally handed over the tag, it triggered an international effort to recover and identify the tag, providing new information for conservationists about the distance a shark can travel. Alisha’s journey also became the first documented movement of a white shark between South Africa and Southeast Asia, which was recorded in this paper published in June. “You’ve never really seen a shark displaced so far,” said Dylan Irion, the corresponding author of the paper and co-founder of Cape RADD, noting that Alisha traveled a lot farther than another female shark called P12 that made a similar journey from South Africa to Australia in 2004, completing a round-trip migration of more than 20,000 km (12,400 mi). Irion told Mongabay that Alisha’s journey was remarkable not just for the distance she traveled, but also because she passed through different habitats, from the cold-temperate waters off South Africa to the warm tropical waters in Mozambique, Madagascar and…This article was originally published on Mongabay
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