The deal with the LEAF Coalition involves around US$180 million; Amazon, Bayer and Walmart are some of the buyers
Pará signed an agreement with LEAF Coalitionbecoming the first Brazilian state to obtain financing for forest conservation through the sale of carbon credits. The contract provides for the sale of up to 12 million carbon credits, which could generate around US$ 180 million (around R$ 980 million) between 2023 and 2026.
The agreement comes in a context where Pará, which has around 25% of the Brazilian Amazon, is preparing to host COP 30 in Belém, in 2025. The initiative aims to finance actions to reduce deforestation and support traditional communities, including indigenous peoples, quilombolas, extractivists and family farmers.
The LEAF Coalition, made up of large companies and governments from countries including Norway, the United Kingdom, the United States and the Republic of Korea, includes carbon credit buyers such as Amazon, Bayer, BCG, Capgemini, H&M Group and the Walmart Foundation. The companies have committed to purchasing 5 million credits, with the possibility of selling an additional 7 million to other corporate buyers.
The governor of Pará, Helder Barbalho (MDB), highlighted the importance of the agreement, declaring that it is the first Brazilian state to sign such a partnership with the LEAF Coalition. Barbalho also highlighted the success of the state’s policies to combat deforestation and the transition to a green economy. He also mentioned the buyers’ confidence in the effectiveness of the state’s efforts and the integrity of the carbon credits generated.
Pará has implemented policies against deforestation, such as the State Policy on Climate Change, aiming at the transition to a low-carbon economy with a target of net zero emissions by 2036. In 2024, the State achieved a 42% reduction in deforestation alerts, the largest since 2020, according to data from the Inpe (National Institute for Space Research).
Eron Bloomgarden, CEO of Emergentcoordinator of the LEAF Coalition, praised the agreement, saying that the LEAF approach “represents a significant opportunity to halt and reverse tropical deforestation by 2030”. He also highlighted the importance of including indigenous peoples and local communities in the fair sharing of benefits.
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