Firms including Amazon to buy $180 million in carbon credits from namesake rainforest

Amazon and other companies have agreed to purchase $180 million worth of carbon offset credits to support the conservation of the Amazon rainforest in the Brazilian state of Para. The purchase is part of the LEAF Coalition forest conservation initiative, which aims to curb climate change by preserving tropical forests. The agreement, the first of its kind in the Amazon, was shared exclusively with Reuters by the Para state government and the LEAF Coalition. The credits represent a reduction of 1 metric ton of carbon emissions from reducing deforestation in Para from 2023 to 2026. The U.S., U.K., and Norwegian governments have guaranteed a portion of the credits. The deal highlights the importance of companies investing in forest conservation to address climate change.