Countries postpone contributions to the TFFF until after the elections

The countries listed to join as investors in the TFFF are China, Japan, South Korea, Canada and the Netherlands, the latter of which has already made a contribution, but only 5 million euros (R$ 29.5 million). Another expectation is a new contribution from Germany, which has already committed to allocating 1 billion euros (R$5.9 billion) to the fund.

The movement shows that, despite failing to mobilize the expected target of US$10 billion (R$51.2 billion) by COP30, the fund continues to attract attention from governments and investors. And it can obtain new contributions until November, when COP31 takes place in Antalya, Turkey.

"Not everyone is expected to confirm, but some are expected to make contributions, with the expectation of additional announcements by COP31. China and Canada have a relevant chance", said Rafael Dubeux, special advisor to the Ministry of Finance.

Ambassador Maurício Lyrio, secretary of climate, energy and environment at the Ministry of Foreign Affairs, reinforced that at least two European countries are interested in participating in the TFFF, reports UOL. “I can't say much, but we will probably have good announcements from two European countries in the coming months,” he said, at an event at São Paulo Climate Week.

The caution is due to uncertainty regarding the Brazilian electoral framework and the fate of the TFFF if President Lula is not re-elected. Despite having its own governance structure and associated with the World Bank, the fund's image is still closely linked to the leadership of the current Brazilian government.

So far, the TFFF has raised contributions from eight countries, Brazil, Indonesia, Norway, Germany, France, the Netherlands, Portugal and Luxembourg, totaling US$6.5 billion. The Brazilian government is still seeking more than US$3 billion in new investments this year.