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illuminem summarises for you the essential news of the day. Read the full piece on Mongabay or enjoy below:
🗞️ Driving the news: Brazilian prosecutors seek cancellation of Amazon’s largest carbon credit deal
• $175 million agreement between Pará state and LEAF Coalition under legal scrutiny
• Allegations claim the contract violates Brazil’s new carbon market law
🔭 The context: The deal promises to sell up to 12 million carbon credits from avoided deforestation
• Set price of $15/ton sparks concerns over exploitation of Indigenous territories
• Prosecutors argue the contract is speculative and pressures traditional communities
🌍 Why it matters for the planet: Questions arise over fairness and legality of Global North offsetting practices
• Critics say carbon pricing ignores social costs and environmental justice
• Potential precedent for Indigenous rights in carbon markets
⏭️ What's next: Prosecutors gave Pará until April 29 to cancel the contract
• State and Emergent claim the deal is preliminary and not a final sale
• Unclear what actions prosecutors will take if deal proceeds
💬 One quote: “This speculation may lead to harassing approaches and considerable pressure on Indigenous communities” — Brazilian prosecutors
📈 One stat: 12 million metric tons of forest-based carbon credits are at the centre of the dispute
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