Key Points
BRASILIA, - Indigenous organizations in the Brazilian state of Para said they were not consulted by the government before it signed a deal with multinational companies to sell carbon offset credits to support conservation of the Amazon rainforest in the state..
Inc and other firms agreed last month to buy carbon credits valued at $180 million through the LEAF Coalition conservation initiative, which it helped set up in 2021 with a group of companies and governments, including the United States and United Kingdom..
The deal foresees the purchase of up to 12 million tons of carbon credits generated by reducing deforestation in Para between 2023 and 2026..
Each of the credits represents a reduction of 1 metric ton of carbon emissions and they are jurisdictional, so Para gets paid for reducing deforestation across the state, including on public lands like reservations..
Governor Barbalho said the state would only collect the portion of the sales' proceeds needed to continue its efforts to cut greenhouse gas emissions, while the rest would go to Indigenous peoples and traditional communities as well as family farms. ..
