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illuminem summarizes for you the essential news of the day. Read the full piece on The Washington Post or enjoy below:
🗞️ Driving the news: A Washington Post investigation reveals that many carbon credit projects in the Brazilian Amazon are exploiting publicly protected lands
• These ventures, often unauthorized, generate substantial profits without sharing revenue with local communities
🔭 The context: Carbon credits are financial instruments aimed at reducing carbon emissions by funding preservation projects
• However, over half of these projects in the Amazon overlap with public lands, covering an area six times the size of Maryland
🌍 Why it matters for the planet: These activities undermine genuine conservation efforts, as carbon credits are issued for land already protected, thus offering no real reduction in emissions
⏭️ What's next: Brazilian authorities are beginning to investigate these practices, which may lead to tighter regulations and scrutiny over carbon credit markets
💬 One quote: "The system is very gameable, and the victim is the planet, and all of humanity who suffers because we’re not reducing emissions, but get to pretend we are." — Joseph Romm, climate researcher
📈 One stat: The projects have generated over 80 million carbon credits, with a market value exceeding $212 million
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