BELEM, Brazil: Brazilian President Luiz Inácio Lula da Silva this week outlined his strategy for protecting the Amazon rainforest, arguing that conservation should rely less on donations from wealthy nations and philanthropic groups and instead be backed by a significant financial mechanism that pays countries to preserve forests.

"I don't want to use the word ‘donation' anymore," Lula said ahead of the United Nations COP30 climate summit, which begins this week in Belém, the Amazon-region city hosting the event. While wealthier nations may offer millions, he said, the scale of need requires "billions" to support the millions of people who live in the Amazon.

At COP30, Lula plans to launch the Tropical Forests Forever Fund, which will help more than 70 developing countries that commit to safeguarding tropical forests. Colombia, Ghana, the Democratic Republic of Congo, Indonesia, and Malaysia have already joined.

Countries including Germany, the United Arab Emirates, France, Norway, and the United Kingdom are helping design the fund and are expected to be early contributors. Lula hopes their involvement will also attract private investment. Details on the rollout remain limited.

The COP30 website describes the initiative as a "permanent trust fund" intended to leverage every dollar of public funding into roughly four dollars from the private sector. Although how that ratio will be achieved is not yet clear, tropical forests can generate income beyond resource extraction through tourism and carbon offset programs, where companies pay to counteract emissions by conserving forests.

Under the proposal, money would go to countries that show success in forest conservation. "Brazil has already invested US$1 billion, and this will bring returns to investors," Lula said. "It's a win-win fund."

Lula also defended Brazil's approval of exploratory drilling by state-run Petrobras near the mouth of the Amazon River. The Equatorial Margin off Brazil's northern coast is thought to hold significant oil and gas reserves. The drilling area, about 175 kilometers offshore from Amapá state, is near biodiverse mangroves and coral reefs. Environmental groups warn that a spill could cause widespread damage, while Petrobras maintains its offshore drilling, which has never resulted in spills.

Lula said delaying approval until after COP30 would have been politically convenient but dishonest. The president, who led Brazil for two terms in the 2000s before returning to office in 2023, has cast himself as a pragmatic leader trying to reconcile environmental goals with economic needs. Oil revenue remains vital to Brazil's government, even as its administration works to curb deforestation and claim a leading role in global climate efforts.

"I don't want to be seen as an environmental icon," Lula added. "I want to do what is right based on expert guidance, my administration, and my conscience. It would be irresponsible for me to say Brazil will no longer use oil."

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