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Brazil prosecutors dispute $175m Amazon Rainforest carbon credit deal (news.mongabay.com)

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Brazilian prosecutors are calling for the cancellation of the largest carbon credit deal in the Amazon Rainforest, saying it breaks national law and risks harming Indigenous communities. The 1 billion real ($175 million) contract, signed last year by the state of Pará, promises to sell up to 12 million metric tons of forest-based carbon credits to the LEAF Coalition, comprised of the U.S., U.K. and Norwegian governments, and companies like Amazon, Bayer, H&M and Walmart. Prosecutors allege that the deal violates a law passed two months after its signing that bans the future sale of carbon credits, characterizing it as “an extractive and colonialist” form of negotiating and privatizing traditional territories.

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