With greenhouse gas emissions still rising globally and nature loss continuing apace, the Amazon rainforest is approaching a tipping point. To avert climate catastrophe, the world must make rapid and significant progress on protecting forests and building a sustainable, inclusive bioeconomy. And Brazil must lead the way, starting at this November’s United Nations Climate Change Conference ( COP30 ) in Belém.

The Amazon represents one of the planet’s most powerful defences against climate change. It is more than a carbon sink; it is a reservoir of biodiversity, a regulator of rainfall across South America, and a vital component of our planet’s climate system. As the custodian of nearly 60% of the Amazon, Brazil has not only a responsibility to be a good steward, but also an opportunity to demonstrate global leadership at a pivotal moment for people and the planet.

Brazil seems to recognize this. The government’s renewed commitment to forest protection, under President Luiz Inácio Lula da Silva’s administration, is reflected in a sharp decline in deforestation rates. But this is just the beginning. Brazil is also working to deliver the bold ideas, scalable finance, and robust partnerships that the global green transformation demands.

Nature-based solutions – which simultaneously advance environmental imperatives and ensure sustainable economic growth – are central to this effort. Recognizing that the preservation of existing nature produces the fastest, most cost-effective results, these solutions are typically based on three pillars: protect, restore and manage.

To protect forests, Brazil is advancing innovative approaches, both domestically and internationally. At home, the country is helping to pioneer a jurisdictional approach, which links carbon finance to state-level action to protect forests, as part of the UN Framework Convention on Climate Change’s framework for “reducing emissions from deforestation and forest degradation in developing countries” ( Redd+ ).

Brazil’s jurisdictional Redd+ programmes reward regions for reducing deforestation, enhancing forest carbon stocks, and ensuring that benefits reach indigenous peoples and local communities. The state of Tocantins is a worthy example: its forest-protection programme, which aims to generate high-integrity carbon credits, has been shaped by inclusive public consultations and features strong governance. An initial issuance of jurisdictional Redd+ credits is expected early next year.

At the international level, Brazil has proposed a US$125 billion Tropical Forest Forever Facility ( TFFF ), which would reward developing countries with historically low rates of deforestation and compensate them for upholding good stewardship. Unlike carbon markets, which focus on verified reductions in emissions, the TFFF would provide predictable, long-term payments to countries based on the number of hectares conserved.

These two approaches are highly complementary. Jurisdictional programmes address the imperative of reducing deforestation now through performance-based finance, while the TFFF offers the steady, long-term support that is needed to sustain those gains. Together, they correct a critical market failure: the undervaluing of standing forests.

Forest protection is not easy: it demands rigorous oversight, transparent benefit-sharing and unwavering community engagement. But when done right, it can unlock significant climate finance, catalyse private-sector participation, and drive sustainable development. The Race to Belém initiative, of which I am CEO, aims to make the most of this potential by mobilizing a huge amount of private-sector investment for forest protection in advance of COP30.

But protection is only the first pillar. Brazil is also making strides in nature restoration and sustainable land management. It has set a number of ambitious goals, including restoring 12 million hectares of forested areas by 2030; converting 40 million hectares of degraded pastureland into productive systems for food, biofuels, and high-productivity forests over the next decade; and promoting a bioeconomy that respects nature and people. The Brazil Restoration and Bioeconomy Finance Coalition, which seeks to mobilize US$10 billion in private investment by 2030, underscores the growing role of the business sector in this process.

Far from just another diplomatic gathering, COP30 is shaping up to be a defining moment for climate action – and, in particular, forest preservation, restoration and management. With Belém located on the edge of the Amazon, delegates will be immersed in the landscape they seek to protect. More important, their host will present them with a menu of proven nature-based solutions – behind which political momentum and private sector support are already building – that address the many causes of forest loss.

The foundations for transformative action are already in place. The challenge will be for Brazil to build on its success in harnessing national policy, subnational action, and private sector engagement to accelerate progress and spearhead a new global model of climate action.

Keith Tuffley is CEO of Race to Belém, a group campaigning to raise finance for forest protection in Brazil, and a former head of investment banking, partner and board member at Goldman Sachs Australia.

Copyright: Project Syndicate