Amazon, H&M, Walmart in US$180mn forest carbon credit deal with Brazil government
The deal reflects the growing confidence companies and state actors are placing in jurisdictional forest projects.
Global corporations including Amazon, H&M and Walmart, as well as the governments of Norway, UK, and US, have signed an agreement to purchase up to 12 million tonnes of forest carbon credits generated by the State of Pará, in northern Brazil.
The deal is estimated at around US$180 million, and was arranged by the LEAF Coalition, a public-private initiative driving market demand for jurisdictional forest projects – that is, carbon credit projects run by governments (instead of private developers) on large forest areas.
