The idea that developed countries should be the main financiers of the Global Environmental Conservation Mechanism was one of the arguments China presented to Brazil to avoid contributing to the Tropical Forest Forever Fund (TFFF).
However, members of the Lula (PT) government remain optimistic about the potential for significant contributions from the Asian country.
During negotiations for state investment in the Fund, representatives of the Chinese regime invoked the principle of common but differentiated responsibilities, stipulating that developed countries must take the lead in financing and mitigation measures on climate change issues, as they have historically benefited from the use of fossil fuels and profited from greenhouse gas emissions.
Information was shared with: sheet This was revealed by a federal government official familiar with the negotiations.
The principle of common but differentiated responsibilities has been used in various contexts of international diplomacy and became more entrenched in the climate change agenda when it was incorporated into the United Nations Framework Convention on Climate Change (UNFCCC), the basis for global negotiations on this topic, created at the United Nations Conference on Environment and Development Rio-92 in Rio de Janeiro in 1992.
In a speech during COP30 last Friday (7th), Chinese Vice Premier Ding Xuexiang invoked the concept, calling on countries to translate their climate change commitments into concrete actions.
“Developed countries must take the lead in meeting their emissions reduction obligations, honoring their financial commitments and providing developing countries with further technical and capacity-building support,” he declared.
This is not the first time China has taken a cautious stance when it comes to investing in multilateral conservation efforts. Despite pressure from several countries, the Asian giant also does not participate as a formal donor or beneficiary of the Green Climate Fund (GCF), a mechanism established to help developing countries implement their climate change goals.
Although China is not financially involved in the Forest Fund, it has expressed political support for the initiative, which was launched during COP30 in Belen, Pennsylvania. More than 50 countries have so far expressed support for the fund, making it Brazil’s main bet during the conference. However, governments face difficulties converting political cooperation into financial contributions.
The fund currently has around US$5.5 billion of announced investments from countries including Brazil, Indonesia, Norway and France. The size of TFFF is expected to reach $125 billion, of which 20% will come from sovereign wealth funds and charities, with the rest acting as guarantees and levers to attract private markets.
This mechanism is based on the principle that tropical forests control the Earth’s climate, and therefore countries that protect these biomes should be rewarded. This fund functions similarly to a traditional financial structure. It pays out a portion of its profits as compensation to its shareholders, while another portion of its profits is allocated to countries with tropical forests, which receive US$4 (R$21) per hectare of protected vegetation.
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