• $1.5 Billion for Amazon Preservation: The “Race to Belém” initiative seeks transformative private investments to fund large-scale rainforest protection.
• Jurisdictional Carbon Credits: New JREDD+ credits aim to provide measurable, impactful carbon savings while supporting local communities.
• Global Climate Stakes: Rising global temperatures push the Amazon closer to a tipping point, heightening the urgency for action.

A $1.5 billion plan to protect the Amazon rainforest was unveiled at the World Economic Forum in Davos. The initiative, called the “Race to Belém,” is led by carbon markets investor Silvania, backed by Swiss trading house Mercuria, in partnership with Conservation International and The Nature Conservancy. It aims to generate funding by selling jurisdictional carbon credits tied to preserving the world’s largest rainforest.

Transformative Goals

“Private sector engagement is now more critical than ever,” said Race to Belém CEO Keith Tuffley. “The urgency to address climate challenges has only increased, and the Race to Belém highlights this by calling for transformative private investments.”

The initiative seeks to work across all levels of government, farmers, and communities to ensure widespread impact and avoid pitfalls faced by earlier projects. Initial deployment begins immediately, with additional phases planned over the next three to five years.

Related Article: AXA Commits $49 Million for Brazilian Amazon Rainforest Restoration Projects

How It Works

Silvania has pledged $1 in upfront capital for every ton of carbon credits purchased, up to $100 million. The price per ton will be negotiated with buyers, potentially saving hundreds of millions of tons of carbon emissions. Credits will be issued under the JREDD+ framework, known for its broader scope and improved tracking capabilities compared to traditional REDD+ projects.

“This will be a seismic year for the future of the Amazon,” said Conservation International CEO M. Sanjayan. “We have a chance to look back on the trajectory of Amazonian protection in two distinct eras: pre- and post-COP30.”

Why It Matters

Record global temperatures in 2023 pushed the Amazon closer to becoming a net emitter of carbon, threatening the planet’s ability to meet climate targets. The “Race to Belém” plan, named after the Brazilian city hosting the next global climate talks, represents a vital step toward reversing this trend.

“These credits offer a generational opportunity to reverse the economic drivers of deforestation,” added Sanjayan.

With private sector leadership at its core, the “Race to Belém” aims to chart a new course for Amazon protection and global climate action.

Follow ESG News on LinkedIn