A US$125 billion rainforest fund is being hailed as a flagship announcement from the 2025 UN climate summit in Belém, Brazil. The goal is noble: this is essentially a trust fund that will pay countries to keep their tropical forests standing. But its core idea was tried 30 years ago, and the results weren’t great.
The world’s new US$125 billion rainforest trust fund revives a 1990s idea—and shows its limits
