At the COP30 climate summit, Brazil has launched a radical new fund. But instead of only shareholders getting rich, the goal is to pay countries for every hectare of rainforest they protect. The nation aims to raise $125 billion with the Tropical Forest Forever Fund, a percentage of the returns of which will go to tropical countries that protect their forests.

Brazil itself has committed $1 billion to the fund, with Indonesia following suit. Other countries, including Norway, France and Germany, said they would contribute to the fund at the leaders' summit taking place ahead of the official start of the COP30.

Around 70 developing countries with tropical forests would be eligible to receive money from the fund with 20% going to indigenous communities and local populations.