The 2025 Brazil Presidency announced approval of the first recommendation on climate finance for BRICS. The declaration outlines the need for financial reforms to mobilise private capital towards funding climate action in the Global South. Brazil’s proposed Tropical Forest Forever Facility (TFFF) is one of the mechanisms aimed at increasing climate financing by mobilising private capital. Brazil’s Secretary of International Affairs at the Ministry of Finance Tatiana Rosito said that the document “involves reforms to multilateral banks, increased concessional financing, mobilization of private capital, and other regulatory issues to ensure financial flows reach developing countries.” The document is set to be presented at the 17th BRICS Summit, which will take place in early July.
