SIM joins Founding Signatories of the Rotterdam TFFF Statement of Support

SIM is proud to be a Founding Signatory of the Rotterdam TFFF Statement of Support

Announced during London Climate Action Week, the Statement welcomes the advancement of the Tropical Forest Forever Facility (TFFF), an innovative initiative designed to create long-term financial incentives for tropical forest conservation across the globe. The initiative builds on the momentum generated during the recent investor convening co-hosted by Finance for Biodiversity Foundation, Robeco, WWF Netherlands, and the Government of the Netherlands.

Tropical forests provide invaluable environmental services that actively support the global economy, preserve biodiversity, and foster a resilient climate. We believe that initiatives such as the TFFF can contribute to strengthening global efforts to safeguard these essential ecosystems.

As a Founding Signatory, we encourage other investors to join us to support the development of this important initiative for tropical forest conservation.

“I am delighted to be one of the Founding Signatories of the Rotterdam TFFF Statement of Support. Since its inception, we always believed that the TFFF could become a stable source of finance to protect tropical forests globally. It is now time to engage the private sector to leverage the initial financial commitments and bring it to a larger scale.” Pedro Moura Costa, CEO, Sustainable Investment Management (SIM)

Join us in signing the Statement before 10 September here:

Signatory Form: TFFF Rotterdam Statement of Support
Picture shows: João Paulo Resende, Brazil ministry of finance, SIM CEO Pedro Moura Costa and Peter van der Werf, Head of Active Ownership, Executive Director at Robeco

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Eligibility Criteria for Cerrado Programme 1

The following eligibility criteria are required for participation in the Responsible Commodities Facility for Cerrado Programme 1 (see full description here):

Land use

The area of cultivation must not have had any deforestation and conversion of native vegetation since 1 Jan 2020*. Preference will be given to areas converted from abandoned pasture land to soy cultivation after 2008.

Forest Code Compliance

Farm land must be registered with the Cadastro Ambiental Rural (CAR). The farm must contain and maintain areas of native vegetation equivalent to those required for Legal Reserve and Areas of Permanent Protection (APPs) determined by the Forest code or have formally adhered to a Programme of Environmental Regularization (PRA) established by the state environmental agency**. The farm area must not overlap with public protected areas, indigenous lands and other traditional people and community lands (including ‘quilombolas territories’).

Land title

Farmers must have unquestionable rights to use the land, be it as a land title or land lease agreement.

Legal Compliance

Farmers must demonstrate that they and their farms do not contravene any environmental or legal requirements, such as embargoes, environmental irregularities, contraventions of the labour legislation (including slave and child labour), and internationally-accepted rules for the use of agrochemicals.

*Farmers occasionally request the conversion of small areas of native vegetation to conduct farm improvements (building storage areas, water reservoirs, etc.). Provided that these areas are small and not for the purpose of expansion of the agricultural area, RCF analyses and considers them eligible. In order to do so, RCF uses the concept of Minimal Level (of deforestation or conversion) as defined by the Accountability Framework Initiative Terms and Definitions, which states “To be considered consistent with no-deforestation or no-conversion commitments, minimal levels must generally meet the following conditions: Not exceed cumulative thresholds that are small both in absolute terms (e.g., no more than a few hectares) and relative to the area in question (e.g., no more than a small proportion of the site).”

**The RCF analyses Forest Code compliance by looking at single farms (defined as the area covered by a CAR) or bundles of individual CARs that, in combination, result in the desired area of native vegetation put under the protective status of the RCF.  This bundling should not be understood as a means of compliance with the Forest Code requirements and is not intended to release the farmer of the regularization process committed under the Forest Code rules (enrolment in the CAR, engagement in a PRA, etc.). In order to differentiate its metrics from those of the Forest Code, the RCF refers to areas of Excess Native Vegetation (ENV) as opposed to Excess Legal Reserve, to avoid confusion with areas legally categorised under the Forest Code.