Carney pledges up to C$560 million for tropical forest fund in Manila

Prime Minister Mark Carney announced on Sunday (November 15) in Manila, Philippines, that Canada will make an initial contribution of up to C$560 million (about US$392.5 million) over four years to the Tropical Forest Forever Facility (TFFF), after meeting Brazilian President Luiz Inácio Lula da Silva on the margins of the Association of Southeast Asian Nations (ASEAN) Summit.

Co-led by Brazil and Norway, protecting more than a billion hectares a year

The TFFF is co-led by Brazil and Norway and was launched in November 2025 during the COP30 Leaders' Summit in Belém, Brazil; Canada was among the 66 countries that endorsed the declaration launching the facility. Once fully operational, it will protect more than one billion hectares of tropical forests a year across more than 70 countries, with conservation payments tied to verified results and at least 20 percent directed to Indigenous Peoples and local communities.

Aiming for $35 billion in contributions to unlock up to $140 billion in private investment

The Prime Minister's Office said the facility aims to mobilise $35 billion in contributions from sponsoring countries to attract up to $140 billion in additional private investment, with investment returns funding long-term, performance-based conservation payments to eligible tropical forest countries. Countries that have committed funding so far include Brazil, France, Germany, Indonesia, Luxembourg, the Netherlands, Norway, Portugal and the United Kingdom, with engagement from countries such as the Democratic Republic of Congo, Ghana and Peru. Canada's contribution will help the facility meet its fundraising targets to launch operations and mobilise further public and private investment.

Part of a climate finance goal of more than $13 billion by 2031

The contribution is part of Canada's goal, set out in the 2026 Spring Economic Update, to deliver more than $13 billion in climate-related support to developing countries by 2031. Earlier this year the government announced A Force of Nature, a $3.8 billion strategy to protect nature, in March, and $1.2 billion for ocean conservation in September; the Spring Economic Update also committed nearly $6 billion in international climate finance through Global Affairs Canada, Environment and Climate Change Canada and FinDev Canada. In a statement, Carney said Canadians have always understood their responsibility to protect nature, and that tropical forests are among the most vital ecosystems on Earth, essential to halting biodiversity loss and stabilising the climate.

Sources: Prime Minister of Canada; Reuters.