Amazon Partners for $180 Million Rainforest Deal

Amazon, alongside five other companies, has committed to purchasing $180 million in carbon offset credits to support the conservation of the Brazilian rainforest in Para. This agreement, facilitated through the LEAF Coalition, marks its first initiative in the Amazon and underscores the importance of tropical forests in combating climate change. Para Governor Helder Barbalho announced the deal during New York Climate Week, highlighting its significance for both the environment and local communities. Each credit purchased, priced at $15, represents a reduction of one metric ton of carbon emissions, significantly above the current market average. The proceeds will benefit Indigenous communities and family farms, with an additional 7 million credits available for other companies. This move comes amid a global stall in carbon credit demand, yet reflects a growing commitment from tech firms to invest in sustainable practices.