Philippines Seeks Fast-Track Entry to Tropical Forests Forever Facility
Key Takeaways
- •The Philippines' DENR said the country is prepared to be among the first to tap the Tropical Forests Forever Facility, with readiness to join its Fast Track Programme.
- •The country lost 1.42 million hectares of tree cover between 2001 and 2022 due to land conversion, urbanization, and climate pressures, though forest cover rose about 6% from 6.8 million hectares in 2010 to 7.22 million hectares in 2022.
- •The TFFF, spearheaded by Brazil and launched at COP30 in Belém, offers up to $4 per hectare for standing tropical forests.
- •The fund is targeting $10 billion in capitalization by late 2026, with more than $7.3 billion mobilized and roughly $2.7 billion still to be raised.
- •Citing a UNEP report, a Philippine environment official said annual forest investment must increase from $84 billion to $300 billion by 2030 to close the global funding gap.
MANILA — The Department of Environment and Natural Resources (DENR) said the Philippines is prepared to be among the first countries to tap the Tropical Forests Forever Facility (TFFF), an international fund that pays countries to keep their tropical forests standing.
The DENR made the announcement during New York Climate Week, annual gathering of governments, companies, and civil society groups held alongside the United Nations General Assembly, saying the facility is expected to support the country's forest restoration efforts.
Analiza Rebuelta-Teh, environment undersecretary for Finance, Information Systems, Climate Change, and Administration, said the Philippines is ready to join the TFFF Fast Track Programme.
She said the country lost 1.42 million hectares of tree cover between 2001 and 2022 as a result of land conversion, urbanization, and climate pressures. Sustained national action over the same period helped reverse the trend, with forest cover growing about 6%, from 6.8 million hectares in 2010 to 7.22 million hectares in 2022.
The government continues to restore degraded watersheds and protect vital ecosystems through the Enhanced National Greening Program and Community-Based Forest Management initiatives — the kind of ongoing restoration work that the DENR expects the new facility to support.
Citing the United Nations Environment Programme's (UNEP) State of Finance for Forests report, Ms. Teh said annual forest investment must rise from $84 billion to $300 billion by 2030. The TFFF, an initiative spearheaded by Brazil, was officially launched at COP30, the UN climate conference hosted in Belém, Brazil, to help close that funding shortfall.
The facility offers up to $4 per hectare for standing tropical forests. It is targeting $10 billion in capitalization by late 2026, and more than $7.3 billion has already been mobilized, leaving roughly $2.7 billion still to be raised. For the Philippines, formal entry into the Fast Track Programme is the next step toward the early access the DENR is seeking, with the fund's progress toward its late-2026 capitalization target the next milestone to watch.
— Maureen Ylessandra B. Dizon
Source: BusinessWorld
