At New York Climate Week, one of the events held alongside the UN General Assembly, the Brazilian state of Pará made a significant move in the fight against global warming. Pará announced the sale of 12 million tons of carbon credits, generating nearly R$1 billion. The news gained international attention as each ton was sold for $15, more than double the market value.
Trees play a crucial role in absorbing CO2. When preserved, five trees can prevent one ton of CO2 from being released into the atmosphere. The amount of carbon "captured" by these trees is internationally certified and converted into carbon credits.
This announcement marks an important milestone for both Pará's economy and environmental agenda. A portion of the revenue from the sale will be allocated to Indigenous, quilombola, and extractivist communities, in addition to supporting family farming initiatives. This move underscores the state's commitment not only to environmental preservation but also to promoting social and economic inclusion.
The state of Pará has announced an ambitious goal: to become carbon neutral by 2036. To achieve this, the state is investing heavily in the carbon market, preserving its valuable forest stock, and promoting the development of new nature-based economies. The aim is to ensure that local populations have access to employment and income through sustainable activities, which in turn reduces pressure on the forests.
Over the past 12 months, Pará has achieved a 42% reduction in deforestation alerts, according to data from the National Institute for Space Research (INPE). This serves as one of the clearest indicators that the state's environmental policies are yielding tangible results.
In an official statement, the Ministry of Finance emphasized the positive impact this contract could have on Brazil's international reputation.
The deal signed in New York is a strong indication of the growing international interest in environmental preservation projects in Brazil. If we can secure public funding, the potential for attracting private investment will increase significantly.
Countries such as Germany, France, and the United Kingdom, along with the state of California, have shown significant interest in collaborating on this type of initiative. This could pave the way for new contracts and investments that support and reward the preservation of the Amazon rainforest.
Critical Analysis: What's Next for the Carbon Market?
Waldner Bruno, executive director of Amazon Connection Carbon, provided a balanced analysis on the subject. According to him, Pará's sale of carbon credits is a positive move, particularly given the institutional backing provided by the government to generate these credits through conservation units.
The methodology adopted follows international standards, such as certification, which lends credibility. However, the model employed by the government is a closed system, where only large corporations and governments purchase the credits generated by the reduction of legal deforestation.
He emphasizes, however, that this approach, although it brings safety and results, is limited.
Legal deforestation is already an obligation of the State. The government is right to use this policy to combat deforestation to generate revenue, but the system could be more open, allowing civil society to participate in projects that look at the present and the future, not just reducing deforestation.
Another point highlighted by Bruno was transparency regarding the communities involved and the destination of the revenue generated.
It was not clear which areas are generating the credits and what the communities' participation is. Transparency is crucial in the voluntary carbon credits market, and, in this case, there is still a lot to be clarified.
The successful sale of carbon credits during Climate Week in New York highlights Pará's role as a leader in sustainability in Brazil. The contract worth almost R$1 billion places the state in a prominent position in the global carbon market, while at the same time strengthening its commitment to environmental preservation and socioeconomic development.
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