Brazil has unveiled a $125 billion financing plan aimed at protecting the country’s rainforests, in preparation for its presentation at the United Nations Climate Change Conference (COP30), which Brazil will host in November.

The initiative includes the restoration of 40 million hectares of degraded land, which will help boost agricultural productivity without the need for further deforestation.

Brazil has proposed the creation of a global fund to provide annual financial incentives for tropical countries to preserve forests while imposing penalties for deforestation.