· 2 min read
illuminem summarizes for you the essential news of the day. Read the full piece on ESG News or enjoy below:
🗞️ Driving the news: The Brazilian state of Para will consult Indigenous communities regarding a $180 million carbon credits agreement aimed at preserving the Amazon rainforest
• Companies, including Amazon.com, are buying credits through the LEAF Coalition to reduce deforestation
• The initiative involves over 30 workshops to ensure Indigenous and traditional groups are included in the REDD+ framework
🔭 The context: Preserving the Amazon is crucial for global climate efforts, but past carbon credit deals have been criticized for insufficient Indigenous consultation
• Indigenous communities, such as the Quilombolas, play a key role in forest conservation
• The LEAF Coalition’s involvement seeks to ensure benefits reach these communities transparently
🌍 Why it matters for the planet: The Amazon acts as a significant carbon sink, essential in fighting climate change
• Ensuring Indigenous communities' involvement and fair benefit distribution supports sustainable forest management
• Properly executed carbon credit programs can help mitigate global warming by curbing deforestation
⏭️ What's next: Para’s government will conduct workshops across the state, with consultations slated for completion by 2025
• The outcomes will guide how carbon credit revenues are shared. The effort aims to set a precedent for equitable climate action involving local communities
💬 One quote: "The sale of carbon credits is the right solution for Indigenous communities, but we must ensure that the benefits are clearly explained and shared fairly," said FEPIPA leader Concita Sompré
📈 One stat: $180 million – the value of the carbon credits deal under discussion.
Click for more news covering the latest on carbon
