Brasil (Enmaeya News) — According to an article by Reuters, a carbon markets investor backed by Swiss trading house Mercuria has partnered with two non-profits, Conservation International and The Nature Conservancy, to launch the Race to Belém, an initiative aimed at raising an initial $1.5 billion to protect the Amazon rainforest. This effort, named after the Brazilian city hosting the upcoming global climate talks in November, will generate carbon credits linked to rainforest preservation. Led by Silvania, a $500 million nature and biodiversity investment vehicle, the initiative seeks broad stakeholder agreement from governments, farmers, and local communities to ensure its effectiveness and avoid past criticisms of similar projects. The urgency of the campaign is heightened by record global temperatures pushing the Amazon closer to becoming a net emitter of carbon, threatening international climate goals.

The Race to Belém initiative is designed to leverage private sector investment for large-scale conservation, with Silvania committing $1 in upfront funding for every ton of credits purchased, up to $100 million. The price per ton will be negotiated, potentially leading to hundreds of millions of tons in carbon savings. The project will issue Jurisdictional Reducing Emissions from Deforestation and Forest Degradation (JREDD+) credits, which provide a broader environmental impact assessment than traditional REDD+ projects. Deployment will begin immediately, with further phases planned over three to five years. Conservation International CEO M. Sanjayan emphasized the significance of this moment, calling it a "generational opportunity" to combat deforestation and marking COP30 as a pivotal point in the trajectory of Amazonian protection.