In a landmark collaboration unveiled during COP29 in Baku, Azerbaijan, Verra and the state of Amazonas, Brazil, have signed a Memorandum of Understanding (MOU) to revolutionise regional carbon markets. The agreement, finalised on 13 November, aims to create high-integrity carbon credits, strengthen regulatory frameworks, and promote sustainable development in one of the world's most biodiverse regions.
A sloth sitting on a tree branch in the Amazon rainforest. AI generated picture.
Amazonas, with 92% of its land covered by pristine rainforests, holds immense potential for carbon market projects. By leveraging Verra's expertise in methodologies like Reducing Emissions from Deforestation and Forest Degradation (REDD), the state aims to protect its forests while reducing emissions and conserving biodiversity. This initiative is set to empower local communities and bolster Amazonas' low-carbon economy.
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Eduardo Taveira, Amazonas’ Secretary for the Environment, emphasised the transformative potential of the partnership. ‘This partnership represents a significant advance in the sustainability trajectory of Amazonas, as it will provide all the necessary support for the State to be a generator of high-integrity credits, following strict environmental criteria, with a guarantee of high environmental, social and low carbon economy impact that we seek’, Taveira stated.
As the world’s leading carbon credit certifier, Verra brings unparalleled technical expertise to the collaboration. The organisation will provide capacity-building support, offering specialised training on its Verified Carbon Standard (VCS), Climate, Community & Biodiversity Standards (CCBS), and Sustainable Development Verified Impact Standard (SD VISta). Verra will also share insights from its Registry and new REDD methodologies, tailoring solutions for Amazonas’ unique needs.
The MOU outlines plans to develop robust carbon market regulations through public discussions and community participation. Verra's experience working with governments worldwide will guide Amazonas in establishing transparent and effective frameworks that align with global carbon market standards.
Mandy Rambharos, Verra CEO, highlighted the partnership’s potential to unlock climate finance for forest conservation, biodiversity protection, and community support. ‘We are honoured that the state of Amazonas selected Verra as a partner in strengthening regional carbon markets. These markets hold the key to unlocking the climate finance needed to reduce emissions, save forests, retain biodiversity, and support local communities,’ she said.
By integrating Verra’s proven methodologies and Amazonas’ natural assets, this partnership sets the stage for innovative environmental solutions. As Amazonas positions itself as a leader in sustainable carbon markets, the collaboration is expected to inspire similar initiatives worldwide, reaffirming the vital role of regional markets in achieving global environmental goals.
This agreement underscores the growing importance of regional action in complementing international nature-forward efforts, showcasing how partnerships like this can balance environmental protection with economic growth.
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At DGB Group, we empower businesses and individuals to mitigate their carbon footprints through nature-based solutions that prioritise the preservation of biodiversity and pristine ecosystems. By restoring degraded landscapes and championing global reforestation, we ensure that every step toward carbon compensation not only offsets emissions but also supports a thriving natural world and resilient communities. Protecting biodiversity is vital for a sustainable future, as healthy ecosystems underpin both environmental and economic stability. Companies have a unique opportunity to spearhead the transition to a low-carbon economy, fostering a healthier planet while generating lasting ecological and socio-economic benefits.
