A carbon markets investor, supported by Swiss trading house Mercuria, announced a partnership with Conservation International and The Nature Conservancy to raise an initial $1.5 billion for protecting the Amazon rainforest, as reported by Reuters. Dubbed the “Race to Belém”—a nod to the Brazilian city hosting the upcoming COP30 climate talks in November. The initiative will work with Brazilian states, farmers, and local communities to sell carbon credits linked to conserving the world’s largest rainforest.
The effort marks the first major campaign by Silvania, a $500 million nature and biodiversity investment vehicle. It seeks to involve governments, farmers, and communities to ensure real, measurable impact, addressing past criticisms of conservation efforts.
Addressing Climate Crisis and Protecting the Amazon
The Amazon is at a critical point where it may become a net emitter of carbon, which threatens global climate stability. Record temperatures last year only added to the urgency of taking action. The Race to Belém seeks to prevent this scenario while contributing significantly to global carbon reduction targets.
Race to Belém CEO Keith Tuffley emphasized the private sector’s critical role in climate action. Speaking at the World Economic Forum in Davos, he told Reuters, “The consensus is that private sector engagement is now more critical than ever. The urgency to address climate challenges has only increased, and the Race to Belém highlights this by calling for transformative private investments.”
Innovative Funding Model and Phased Deployment
To encourage early participation, Silvania will invest $1 in capital for every ton of credits purchased, up to $100 million. JREDD+ carbon credits will be priced through buyer negotiations, reflecting their value in reducing deforestation and forest degradation. Deployment of the project is set to begin immediately, with subsequent phases rolled out over three to five years.
JREDD+ credits improve on traditional REDD+ by using larger reference areas, simplifying the tracking of environmental and community impacts. Similar projects are already underway in countries like Guyana, Ghana, and Costa Rica, showcasing the potential for broad implementation.
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A Pivotal Year for Amazonian Protection
Conservation International CEO M. Sanjayan stated that these credits represent a “generational opportunity to reverse the economic drivers of deforestation.”
He added, “This will be a seismic year for the future of the Amazon. We have a chance to look back on the trajectory of Amazonian protection in two distinct eras: pre- and post-COP30.”
With rising temperatures and faltering commitments, the Race to Belém is a vital push to protect the Amazon rainforest.
