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Brazil was “a bit surprised” Britain hasn’t contributed to a new investment fund to protect tropical forests, despite having helped to design it, a senior official has told Sky News. 

The Amazon nation has used its role as host of the COP30 climate talks to tout its new scheme, which it drew up with the help of countries including the UK and Indonesia.

With Britain’s budget day looming, Prime Minister Sir Keir Starmer decided against chipping in when he visited the Amazonian city of Belem this month.

The news came out the day before Brazil was about to launch it.

“The Brazilians were livid” about the timing, one source told Sky News.

Lush rainforest and waterways in the Brazilian Amazon
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Lush rainforest and waterways in the Brazilian Amazon

A waterfall in Kayapo territory in Brazil
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A waterfall in Kayapo territory in Brazil

Garo Batmanian, director-general of the Brazilian Forestry Service and coordinator of the new scheme, said: “We were expecting [Britain to pay in] because the UK was the very first one to support us.”

The so-called Tropical Forests Forever Facility (TFFF) was drawn up with the help of “very bright people from the UK”, according to Mr Batmanian.

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“So we are a bit surprised, but we expect that once internal situations get better, hopefully they will come through,” he added.

The UK’s climate envoy, Rachel Kyte, told Sky News: “The PM agreed the decision was about not doing it now, as opposed to not ever.

“We will look at the TFFF after the budget and are carefully tracking how others are investing.”

Forest growing back from a fire (bottom left) and deforestation alongside healthy sections of Amazon rainforest
Image:
Forest growing back from a fire (bottom left) and deforestation alongside healthy sections of Amazon rainforest

The fund has been hailed as a breakthrough – if Brazil can get if off the ground.

Paul Polman, former Unilever boss and now co-vice chair of Planetary Guardians, said it could be the “first forest-finance plan big enough to change the game”.

Why do tropical forests need help?

At their best, tropical forests like the Amazon and the Congo Basin provide food, rainfall and clean air for millions of people around the world.

They soak up carbon dioxide – the main driver of climate change – providing a cooling effect on a heating planet.

But they are being nibbled away at by extractive industries like oil, logging, soy and gold.

Parts of the Amazon rainforest already emit more carbon dioxide than they store.

Other pockets are expected to collapse in the next few decades, meaning they’d no longer be rainforests at all.

Read more from COP30:
Climate protest in Brazilian city aims to hold governments’ feet to the fire
Are climate summits saving the world – or just hot air?

COP30 – why is it so controversial?

Greenpeace says deforested land could be better used, which would save the need for more land to be cleared
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Greenpeace says deforested land could be better used, which would save the need for more land to be cleared

Cristiane Mazzetti, senior forest campaigner at Greenpeace Brazil, said: “Science is saying we need to immediately stop deforestation and start restoring what was once lost.

“And in Brazil, we already have enough open land that could be better used for agricultural expansion… There is no need [to open up] new areas.”

Can Brazil’s new investment fund save the world’s rainforests?

For decades, forests have been worth more dead than alive.

Successive attempts to save them have fallen flat because they’ve not been able to flip the economics in favour of conservation, or ensure a long-term stream of cash.

Brazil hopes the TFFF, if it launches, would make forests worth more standing than cut down, and pay out to countries and communities making that happen.

Mining is a lucrative industry in the Amazon. Pic: Reuters
Image:
Mining is a lucrative industry in the Amazon. Pic: Reuters

“We don’t pay only for carbon, we are paying for a hectare of standing forest. The more forests you have, the more you are paid,” said Mr Batmanian.

The other “innovation” is to stop relying on aid donations, he said.

“There is a lot of demand for overseas development assistance. It’s normal to have that. We have a lot of crisis, pandemics, epidemics out there.”

Instead, the TFFF is an investment fund that would compete with other commercial propositions.

Mr Polman said: “This isn’t charity, it’s smart economic infrastructure to protect the Amazon and keep our planet safe.”

How does the TFFF raise money?

The idea is to raise a first tranche of cash from governments that can de-risk the fund for private investors.

Every $1 invested by governments could attract a further $4 of private cash.

The TFFF would then be able to take a higher amount of risk to raise above-market returns, Brazil hopes.

That means it could generate enough cash to pay competitive returns to investors and payments to the eligible countries and communities keeping their tropical trees upright.

At least 20% of the payments has been earmarked for indigenous communities, widely regarded as the best stewards of the land. Many, but not all, have welcomed the idea.

Will the TFFF work?

The proposal needs at least $10-25bn of government money to get off the ground.

So far it has raised $5.5bn from the likes of Norway, France, and Indonesia. And the World Bank has agreed to host it, signalling strong credibility.

But it’s a hard task to generate enough money to compete with lucrative industries like gold and oil, many of which governments already invest in.

Dr Andreza Aruska de Souza Santos, director, Brazil Institute, King's College London
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Dr Andreza Aruska de Souza Santos, director, Brazil Institute, King’s College London

Dr Andreza Aruska de Souza Santos, director of King’s College London’s Brazil Institute, said TFFF has the potential to make it “very financially viable to have a forest as a forest”.

“But the problem is that TFFF would need to compete with these very profitable industries… because you need to capture as much money from governments, from investors.

“And so far it’s not quite balancing the competitiveness of other sectors that are potentially harmful for forests.”

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President Trump may walk away from Ukraine peace process, his eldest son says

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President Trump may walk away from Ukraine peace process, his eldest son says

Donald Trump’s eldest son has said his father may walk away from the Ukraine peace process, claiming the issue is not a priority for Americans, and signalling Europe needs a better plan.

In a wide-ranging discussion with Sky’s lead world news presenter Yalda Hakim at Doha Forum 2025, Donald Trump Jr addressed issues including the US administration’s recent diplomatic efforts around the world.

He was speaking in his capacity as a business leader, setting out his agenda for “America first” investments in defence technology and artificial intelligence (AI), drawing a direct line between global stability and economic prosperity.

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Donald Trump meeting Volodymyr Zelenskyy in Washington earlier this year. Pic: Reuters
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Donald Trump meeting Volodymyr Zelenskyy in Washington earlier this year. Pic: Reuters

When asked directly if he believed the US president would walk away from Ukraine, he answered: “I think he may, what’s good about my father and what’s unique about my father is you don’t know what he’s going to do. He’s unpredictable.”

President Trump has led renewed efforts for a ceasefire deal with Russia in recent months.

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Drawing a parallel with his father’s current “war” on drug cartels, Donald Trump Jr described gangs bringing illegal drugs into America as a “far greater clear and present danger to the US than anything [going on] in the Ukraine or Russia”.

While he said he did not believe Ukraine would be “abandoned”, he said: “The American public doesn’t have the appetite [for endless wars and further funding of Ukraine’s military efforts].”

Describing Ukraine as “a far more corrupt country than Russia”, he characterised Ukrainian President Zelenskyy as “one of the great marketeers of all time”, who he said had become “a borderline deity, especially to the left”.

He went on to describe President Trump’s approach as “common sense”.

China rivalry was the focus, but Musk got a mention


Yalda Hakim

Yalda Hakim

Lead world news presenter

@SkyYaldaHakim

In a country and at a conference which is friendly, even admiring of the Trump administration, Don Jr was in his element.

He’s here in his capacity as a business leader, promoting his venture, 1789 Capital which claims to be focused on “America First” investments.

But he wasn’t shy about discussing his father’s foreign policy achievements, boasting that Donald Trump had resolved seven or eight wars – conflicts that most ordinary Americans were unaware of.

His pitch is bullish and direct – the current US administration is projecting strength globally, stopping wars and creating investment opportunities which serves the American economy. It’s the MAGA mentality for the global audience.

It’s clear that the rivalry with China is their biggest focus, especially finding ways to combat their dominance over critical minerals.

“America can no longer just sit there and hope that China is going to be a good actor… I think the rest of the world understands that they want America to be at the forefront of all of that.”

When I asked him about recent efforts by President Trump to bring the war in Ukraine to an end, he responded forcefully. “We want peace, we want to stop the death.”

But he went on to say that Europe needed to shoulder the burden and currently they have no plan.

As he sat on the stage in Qatar, the country which has been at the centre of the ceasefire efforts for Gaza, he expressed hope that peace would prevail, but balanced expectations America would fund its re-construction. This would have to be a global effort.

“If there’s one thing my father is, it’s a builder… I think he can be the greatest construction manager in the history of the world, but no one in America wants to bear the entire responsibility of that.”

And, away from international diplomatic efforts, he was happy to announce a breakthrough closer to home.

The “bromance” with Elon Musk and President Trump is back on – calling the entrepreneur a “generational talent, a generational level of genius”.

‘Bromance’ back on

He also confirmed that Tesla billionaire Elon Musk was “100% back in the fold”, after previously appearing to fall out with the president.

Earlier this year, Donald Trump Jr’s investment company, 1789 Capital, heavily invested in some of Musk’s companies, including SpaceX.

Elon Musk and Donald Trump in the Oval Office at the White House in May. Pic: AP
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Elon Musk and Donald Trump in the Oval Office at the White House in May. Pic: AP

Directly comparing President Trump with Musk, he said: “Imagine dealing with one Donald Trump – now I have to deal with two.

“They’re very similar that way, so it created some headaches… but the reality is they’re both very much aligned, they’re on message with what we want to do with our country. What we want to do with freedom of speech.”

He went on: “Elon did incredible things for Twitter, really allowed the democratisation of truth and freedom and free speech to occur. That’s something that is a true threat in America right now.”

He also praised Musk as “changing the face of free speech, science and technology”, adding, “we have to protect our geniuses”.

When asked whether Mr Trump would stand for a third term, he joked that he could be “just trolling” those on the left.

He went on, “He’s the most unpredictable person, probably in the history of politics. Which is why he’s able to get something done. We’ll see.”

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Woman, 60, and young boy die in house fire

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Woman, 60, and young boy die in house fire

A murder investigation is underway after a woman and young boy died in a house fire in Edenderry, Co Offaly.

Another woman is being treated in hospital for her injuries following the blaze on Saturday at roughly 7.45pm.

Pic: PA
Image:
Pic: PA

Pic: PA
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Pic: PA

Irish police said the house on Castleview Park had been declared a crime scene.

A Garda spokesperson said on Sunday morning that they could confirm two people had died as a result of the fire.

“A female, aged 60 years, and a young boy were fatally injured,” they said.

“A second female, aged in her 50s, is receiving treatment for serious injuries at a hospital in the Midlands.

Gardai in Tullamore are appealing for witnesses to come forward.

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Inside a secret, underground military base in eastern Ukraine

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Inside a secret, underground military base in eastern Ukraine

A hidden, underground military base in eastern Ukraine is so secret, soldiers change into civilian clothes whenever they step outside to avoid drawing attention.

Journalists are not usually allowed access.

But the unit that has been using this vast, subterranean warren of war rooms, a dormitory, kitchen, canteen and makeshift gym as its headquarters since the summer is imminently relocating, so Sky News was invited inside.

Lieutenant Colonel Arsen Dimitric – call sign Lemko – is the chief of staff of 1st Corps Azov of the National Guard of Ukraine, one of the country’s most effective combat forces.

Lemko
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Lemko

He sat with us in the base, next to a large square table, covered by a map of the Donbas region.

His soldiers have been fighting in this area since the summer, countering a surge in Russian attacks in and around the frontline city of Pokrovsk.

“We aim to destroy as much of the enemy as possible,” he said.

More on Ukraine

“Will we take losses? Yes. Will it hurt? Absolutely.”

But he said if Russia is allowed to advance, even more Ukrainians will suffer.

“Their [the Russians’] only advantage is numbers,” he said.

“They don’t care how many people they lose.”

Lemko said almost 17,000 Russian soldiers had been killed or wounded fighting in this section of the warzone alone between August to November.

Read more:
Russia hits Ukraine with massive missile and drone attack

Ukrainian video footage of the battlefield showed Russian armoured vehicles being taken out by drones and artillery fire.

At one point, Russian soldiers mounted on motorbikes try to advance, only to be stopped by Ukrainian fire.

“Our task is to hit them as hard as possible in various areas,” Lemko said. “We focus on our operations, others on theirs, and leadership will negotiate the best possible terms.”

The Azov Corps soldiers are fighting over land that should be handed over to Russia, according to an initial draft of a peace deal proposal between Kyiv and Moscow put forward by the United States. This is despite swathes of the Donbas remaining under Ukrainian control.

But General Oleksandr Syrskyi, the head of the Ukrainian armed forces, has since told Sky News that simply surrendering territory would be “unacceptable”.

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Giving up territory ‘unacceptable’, Ukraine’s military chief says

For Lemko, he says the job of his troops is to inflict as much damage as possible on the Russian side to help strengthen Ukraine’s hand in negotiations.

“Simply giving it [land] away isn’t the way,” he said.

“Diplomats do their work, we do ours. Our job as soldiers is to give as many advantages as possible to our negotiating team. And we’re doing exactly that.”

Lemko, who has been battling against Russia since the Crimean annexation in 2014, also had a warning for the rest of Europe about a rise in hybrid attacks, such as mysterious drone sightings, acts of sabotage and cyber hacks suspected of being linked to Moscow.

He said Ukraine’s experience showed that if attacks by Russia that fall under the threshold of conventional war are not successfully countered, full-scale conflict could follow.

“Ukraine once lost a hybrid war that had been waged since the very start of our independence,” he said.

“Because of that defeat, there was a physical operation against us in Crimea and then a physical operation in 2022.

“Now the hybrid war has reached its climax, and it is moving into the Baltic States and Europe.

“That is why, in my opinion – and in the opinion of most of our officers – now is the moment for all countries to unite and counter this hybrid war. Because the consequence may be a physical one.”

Production: Katy Scholes, security and defence producer, and Azad Safarov, Ukraine producer.

Camera operator: Mostyn Pryce

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