Amazon, alongside five major companies, has committed to a $180 million deal to purchase carbon credits aimed at preserving the Amazon Rainforest in Brazil's Para state. This landmark agreement represents a significant push in the global effort to protect one of Earth's most essential ecosystems.
Landscape view of the lush Amazon jungle, Brazil's Para state. AI generated picture.
The carbon credits will be acquired through the LEAF Coalition, a global forest conservation initiative co-founded by Amazon in 2021. This deal marks the coalition's first in the Amazon Rainforest, where it will help mitigate deforestation and reduce carbon emissions. Para's state government, which announced the deal during New York Climate Week, revealed that much of the proceeds will benefit local communities, including Indigenous peoples and small farmers.
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Governor Helder Barbalho highlighted the agreement’s importance, noting its symbolic value, as Amazon, a company named after the rainforest, leads the purchase. The carbon credits are priced significantly higher than the average market rate, emphasising the project’s focus on environmental impact.
The deal will secure 5 million carbon credits over the next three years, with an additional 7 million credits available for purchase by other companies. Governments from the US, UK, and Norway have guaranteed a portion of these credits, signalling broad international support.
Read more: Deforestation in the Amazon Rainforest: causes, effects, solutions
This initiative aligns with Amazon’s broader environmental goals, including its Climate Pledge to achieve net-zero carbon emissions by 2040. While the deforestation rate in Para has decreased since 2021, the region still faces significant challenges, making this agreement a crucial step in long-term conservation efforts.
DGB Group is dedicated to advancing global reforestation efforts, mitigating the severe consequences deforestation has on our planet and its rich biodiversity. We invite you to be part of our mission to protect the Earth. Through our innovative carbon projects and partnerships with key stakeholders, we are making real strides in safeguarding ecosystems. Our high-quality carbon units, generated by our impactful projects, help companies to achieve their net-zero goals while making a positive impact on the environment and local communities. Our commitment to preventing deforestation and fostering biodiversity remains at the core of our work, driving us toward a sustainable and thriving future for all.
