Improving Tropical Forest Financing: From TFFF and REDD+ to SSLB and FLL

Deforestation in the tropics is a key contributor to climate change as well as to the loss of biodiversity. Therefore, Brazil—which will host the 30th Conference of Parties to the United Nations Framework Convention on Climate Change (COP 30) in November 2025—is proposing the creation of a “Tropical Forest Forever Fund” (TFFF) to address tropical deforestation.

In this discussion paper, Bård Harstad addresses flaws in the TFFF and makes recommendations for rectifying these flaws. The paper is based in large part on quantitative analysis presented in an appendix available here.

Harstad is the David S. Lobel Professor in Business and Sustainability and Professor of Political Economy, Doerr School of Sustainability, Stanford University.