The environment ministers of the Group of 20 nations agreed on Thursday to back the establishment of financial mechanisms to support ecosystem services, aligning with Brazil’s proposal for a global trust fund dedicated to forest conservation.

Brazil’s initiative, the Tropical Forests Forever Facility, aims to compensate tropical forest nations for preserving vital ecosystems. Unlike the Amazon Fund, which offers financial rewards based on reduced deforestation in Brazil, this new approach would provide payments to countries maintaining forested areas, benefiting local and Indigenous communities directly involved in conservation efforts.

“This initiative ensures that all tropical forest nations receive support for their conservation work, rather than being rewarded only for reducing deforestation,” said João Paulo Capobianco, executive secretary at Brazil’s Ministry of the Environment.

G20 Discussions on Climate and Sustainability

The four-day gathering in Rio de Janeiro brought together ministers from the world’s largest economies to address climate change, biodiversity loss, and environmental degradation. With Brazil holding the G20 presidency until the end of the year, these discussions set the stage for the upcoming leaders’ summit in November.

Brazil’s Environment Minister Marina Silva stressed the urgency of addressing climate crises, highlighting recent disasters such as catastrophic flooding in Rio Grande do Sul and record droughts fueling massive wildfires.

“We cannot afford delays, and we must ensure no one is left behind,” Silva said in her opening remarks. She emphasized that rising global temperatures—already 1.5°C (2.7°F) above pre-industrial levels—are causing widespread human suffering.

The ministers’ joint declaration reaffirmed their commitment to scaling up climate mitigation and adaptation efforts, reiterating support for the Paris Agreement. Other key topics included ocean conservation, waste reduction, circular economy policies, and tackling plastic pollution.

Brazil’s Push for Global Action

At the upcoming G20 Leaders’ Summit on November 18-19, heads of state will review the proposals outlined by their ministers. Brazilian President Luiz Inácio Lula da Silva has prioritized global inequality reduction and the reform of multilateral institutions, positioning these issues at the center of Brazil’s G20 agenda.

By advocating for financial support mechanisms that go beyond national borders, Brazil is leading efforts to incentivize forest conservation on a global scale, ensuring that countries protecting the world’s most critical ecosystems receive the resources they need.