SAO PAULO — Amazon and other companies have agreed to buy about $180 million worth of carbon offset credits that will support the preservation of its namesake rainforest in the Brazilian state of Para. Amazon and at least five other firms will buy through the LEAF coalition, a forest conservation initiative it helped found in 2021 with a group of companies and governments, including the United States and the United Kingdom.
This is LEAF’s first agreement in the Amazon, the world’s largest rainforest, which is vital to curbing climate change because trees absorb huge amounts of greenhouse gases. The Para state government and the LEAF coalition first released details of the deal exclusively to Reuters.
Paragovernor Helder Barbalho will announce the deal on Tuesday night during New York Climate Week, when about 900 events will be held alongside the UN General Assembly.
“It’s clear that this sends an important message: A company with a name that refers to Amazon that is buying with a state in the Amazon for the first time,” Barbalho told Reuters.
Amazon confirmed the purchase in a statement, emphasizing the importance of protecting rainforests in addressing climate change. While demand for carbon credits has stalled globally, tech giants Microsoft, Meta and Google have bought offsets in Brazil this year.
