Amazon and several other companies have agreed to purchase carbon offset credits valued at approximately $180 million to support the conservation of the Amazon rainforest in Brazil’s Para state. This agreement marks the first deal under the LEAF Coalition initiative, which Amazon co-founded in 2021 with various companies and governments, including the U.S. and U.K.
Para Governor Helder Barbalho will announce the deal during New York Climate Week, highlighting the importance of this partnership in combating climate change. Although global demand for carbon credits has stalled, tech giants like Microsoft, Meta, and Google have also made purchases in Brazil this year.
An additional 7 million credits will be available for purchase, backed by guarantees from the U.S., U.K., and Norwegian governments. As Brazil prepares to host the UN COP30 climate summit next year, this initiative aims to restore the country’s environmental standing amid ongoing deforestation concerns.