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A coalition of developed countries and corporations has agreed to a massive purchase of carbon credits from the Amazon rainforest worth $180 million, which has been deemed the largest in history.

The LEAF coalition, an initiative launched in 2021 seeking to mobilise finance for forest protection, announced the agreement this week with the Brazilian state of Pará.

The state, which will host the COP30 climate summit next year in the city of Belém, last year recorded the highest Amazonian deforestation rate in the country. Around 170,000 sq. km, an area the size of Uruguay, was destroyed.

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Announcing the carbon credit initiative in New York, Pará State Governor Helder Barbalho told international press that the deal – which allocates a portion of the funds to indigenous and local communities – is “extraordinary”.

“It will be the largest carbon credit sale in history,” Barbalho said in a statement. “We dream of making living forests valuable, turning what dead forests need into a reality when the forest gains value.”

Funds for rainforests

Around 30 multinational corporations including Amazon, Bayer, BCG and H&M Group will purchase the credits from the project at $15 per tonne. The governments of the UK, US, Norway and South Korea will also back the deal with purchase guarantees, promising to buy a chunk of the credits at $15 per tonne if no private-sector buyer offers more than that.

LEAF expects to generate around 12 million forest credits by reducing deforestation in Pará from 2023 to 2026. The coalition has already established smaller projects in Costa Rica and Ghana, which sold credits at a lower price of $10 per tonne.

“The LEAF approach represents the best, and perhaps last, chance to halt and reverse tropical deforestation by 2030, channelling billions in climate finance to the Global South,” said Eron Bloomgarden, CEO of Emergent, coordinator of the LEAF coalition.

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Ahead of climate finance talks at COP29 in Baku, developed countries have insisted on highlighting the role of private finance such as the one featured in the LEAF coalition to move funds from Global North to South.

Bilateral purchases of carbon credits have also become more common, but the rules governing these agreements are yet to be finalised at COP29 – leading to controversial deals.

Close monitoring

If successful, the LEAF deal could become a “role model” for forest protection in the Amazon, but this will require evidence of the interventions changing Pará’s emissions trajectory, said Mariana Oliveira, manager of the Forests, Land Use and Agriculture Program at WRI Brasil.

“Given the nature and structure of the transaction, it will be necessary to closely watch the interventions to be sure that there is a link between the revenue from carbon credits and the interventions,” Oliveira told Climate Home News.

Since 2020, Pará state – the second-largest in the Brazilian Amazon – has committed to an emissions reductions strategy aiming to restore around 5 million hectares of forests and achieving net-zero forest emissions by 2036. The state has also put in place a mandatory tracking of all cattle and buffalo supply chains. After a slight rise in 2021, Pará’s deforestation fell in 2022 and 2023.

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While the state is already making efforts to combat deforestation, Oliveira said the information available on the LEAF deal suggests the efforts will be additional and with a separate source of funding – which are critical elements of high-integrity carbon credits.

“From now on, it is important for civil society to closely monitor how this program will develop, demanding real and effective participation from traditional peoples,” she added.

The post Amazon state that will host COP30 strikes “largest carbon credit sale in history” appeared first on Climate Home News.

Amazon state that will host COP30 strikes “largest carbon credit sale in history”

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The Farming Industry Has Embraced ‘Precision Agriculture’ and AI, but Critics Question Its Environmental Benefits

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Why have tech heavyweights, including Google and Microsoft, become so deeply integrated in agriculture? And who benefits from their involvement?

Picture an American farm in your mind.

The Farming Industry Has Embraced ‘Precision Agriculture’ and AI, but Critics Question Its Environmental Benefits

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With Love: Living consciously in nature

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I fell flat on my backside one afternoon this January and, weirdly, it made me think of you. Okay, I know that takes a bit of unpacking—so let me go back and start at the beginning.

For the last six years, our family has joined with half a dozen others to spend a week or so up at Wangat Lodge, located on a 50-acre subtropical rainforest property around three hours north of Sydney. The accommodation is pretty basic, with no wifi coverage—so time in Wangat really revolves around the bush. You live by the rhythm of the sun and the rain, with the days punctuated by swimming in the river and walking through the forest.

An intrinsic part of Wangat is Dan, the owner and custodian of the place, and the guide on our walks. He talks about time, place, and care with great enthusiasm, but always tenderly and never with sanctimony. “There is no such thing as ‘the same walk’”, is one of Dan’s refrains, because the way he sees it “every day, there is change in the world around you” of plants, animals, water and weather. Dan speaks of Wangat with such evident love, but not covetousness; it is a lightness which includes gentle consciousness that his own obligations arise only because of the historic dispossession of others. He inspires because of how he is.

One of the highlights this year was a river walk with Dan, during which we paddled or waded through most of the route, with only occasional scrambles up the bank. Sometimes the only sensible option is to swim. Among the life around us, we notice large numbers of tadpoles in the water, which is clean enough to drink. Our own tadpoles, the kids in the group, delight in the expedition. I overhear one of the youngest children declaring that she’s having ‘one of the best days ever’. Dan looks content. Part of his mission is to reintroduce children to nature, so that the soles of their feet may learn from the uneven ground, and their muscles from the cool of the water.

These moments are for thankfulness in the life that lives.

It is at the very end of the walk when I overbalance and fall on my arse—and am reminded of the eternal truth that rocks are hard. As I gingerly get up, my youngest daughter looks at me, caught between amusement and concern, and asks me if I’m okay.

I have to think before answering, because yes, physically I’m fine. But I feel too, an underlying sense of discomfort; it is that omnipresent pressure of existential awareness about the scale of suffering and ecological damage now at large in the world, made so much more immediately acute after Bondi; the dissonance that such horrors can somehow exist simultaneously with this small group being alive and happy in this place, on this earth-kissed afternoon.

How is it okay, to be “okay”? What is it to live with conscience in Wangat? Those of us who still have access to time, space, safety and high levels of volition on this planet carry this duality all the time, as our gift and obligation. It is not an easy thing to make sense of; but for me, it speaks to the question of ‘why Greenpeace’? Because the moral and strategic mission-focus of campaigning provides a principled basis for how each of us can bridge that interminable gulf.

The essence of campaigning is to make the world’s state of crisis legible and actionable, by isolating systemic threats to which we can rise and respond credibly, with resources allocated to activity in accordance with strategy. To be part of Greenpeace, whether as an activist, volunteer supporter or staff member, is to find a home for your worries for the world in confidence and faith that together we have the power to do something about it. Together we meet the confusion of the moment with the light of shared purpose and the confidence of direction.

So, it was as I was getting back up again from my tumble and considering my daughter’s question that I thought of you—with gratitude, and with love–-because we cross this bridge all the time, together, everyday; to face the present and the future.

‘Yes, my love’, I say to my daughter, smiling as I get to my feet, “I’m okay”. And I close my eyes and think of a world in which the fires are out, and everywhere, all tadpoles have the conditions of flourishing to be able to grow peacefully into frogs.

Thank you for being a part of Greenpeace.

With love,

David

With Love: Living consciously in nature

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Without Weighing Costs to Public Health, EPA Rolls Back Air Pollution Standards for Coal Plants

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The federal Mercury and Air Toxics Standards for coal and oil-fired power plants were strengthened during the Biden administration.

Last week, when the Environmental Protection Agency finalized its repeal of tightened 2024 air pollution standards for power plants, the agency claimed the rollback would save $670 million.

Without Weighing Costs to Public Health, EPA Rolls Back Air Pollution Standards for Coal Plants

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