As the COP30 summit continues in Brazil a new report released today has said more than $12 billion will need to be invested to save the world’s largest rainforest.

The study by environmental charity WWF revealed that the sum is urgently needed to keep the Amazon forest standing.

The Amazon is the world’s largest rainforest and the organisations said there is growing evidence it is on the brink of reaching irreversible tipping points and escalating the climate crisis.

According to the report $12.4 billion is the difference between current beneficial funding, and how much WWF estimates is needed to keep the Brazilian Amazon standing.

While the funding gap may seem large, the study said it is dwarfed by the estimated $317 billion – calculated by the World Bank – of economic damage Brazil will face if the Amazon collapses.

The WWF’s ‘Closing the billion-dollar blackhole in forest finance’ an analysis of financial flows in Brazil to understand where money is currently going, and how to redirect it.

It found that destructive finance – such as loans and subsidies for farming on land that was deforested – vastly outweigh positive ones, by nearly eight times in Brazil. Positive finance, that protects forests, came mostly from the Brazilian government. The current flows represent just 5% of what is needed.

The report calls for urgent action to stop the damaging flows, by bringing in stricter criteria for loans and subsidies and redirecting funding towards sustainable practices and compliance with environmental laws.

The report explained domestic budgets and ODA mainly fund forest conservation and Indigenous Peoples’ stewardship. Forest-positive loans finance sustainable agriculture via Pronaf and ABC+ credit lines, while negative ones finance its expansion via financial institutions. Harmful subsidies fund commodity price policies and credit programs that promote crop and cattle expansion.

Another key solution is investment in Tropical Forest Forever Facility (TFFF) – a fund proposed by the Brazilian government which recently garnered $5 billion in donations. However, the UK government recently announced it will not contribute, as have a number of other nations.

Addressing the report’s conclusions Kate Findlay, chief advisor on forests at WWF-UK, said: “Forests are at the forefront of the climate crisis, and the Amazon is on the brink of irreversible tipping points.

“This report reveals the multi-billion-pound black hole in forest finance that we must urgently fill to prevent further destruction. Bridging this gap means cutting damaging funding flows, like loans and subsidies, and repurposing them for good.

“Investing now is far cheaper than dealing with the fallout. The cost of inaction will be felt not just in Brazil but will have a ripple effect across the world.”

The report came as Greenpeace urged delegates to act to halt global deforestation.

It added the hope was COP30 results in a historic plan to end forest destruction and to urgently close the 1.5°C ambition gap.

Carolina Pasquali, executive director, Greenpeace Brazil said: “COP30 needs to be a turning point. We can no longer treat forest protection, transitioning away from fossil fuels or adaptation as a menu of options. The climate crisis is advancing on all fronts, and the response needs to be ambitious, courageous and immediate.”

“President Lula made this clear at the Leaders’ Summit, stating that COP30 must deliver concrete roadmaps to reverse deforestation and to overcome our dependence on fossil fuels.

“He has sent the political signal; now it is time to turn it into real action. The world expects more than ambition in speeches, it expects leadership through action. That means concrete plans to end deforestation by 2030, to transition away from fossil fuel dependence, strengthening adaptation to increase climate resilience, and ensuring the finance needed to make it all real. The era of partial answers is over.”

While the funding gap may seem large, the study said it is dwarfed by the estimated $317 billion – calculated by the World Bank – of economic damage Brazil will face if the Amazon collapses.