Forest conservation to be paid for in Brazil

The Chico Mendes Institute for Biodiversity Conservation (ICMBio), linked to Brazil’s Ministry of Environment signed a technical cooperation agreement with the country’s National Bank for Economic and Social Development (BNDES) on Wednesday (Apr. 6) to conduct feasibility studies on the granting of Payment for Environmental Services (PSA in the original acronym) and carbon credits for forest conservation units.

The model is unprecedented in the country, the BNDES declared, and represents a pioneering step to transform forest conservation into a profitable activity for the local population.

Brazil’s Environment Minister Joaquim Leite noted the agreement gives the government the opportunity to hand out grants for preservation. “This is a grant for someone who’s going to protect and conserve the area, giving them the chance to generate native forest carbon credits under the Floresta+ Carbono program. It’s a way to pay for the protection and conservation of native forests.”

The Floresta+ Carbono program outlines the generation of carbon credits through native vegetation conservation and restoration and generates alternative income for Brazilians living in the Amazon and other biomes.

Stages

The project will be implemented in two stages. The first includes an in-depth study of the Brazilian legal framework regarding these services and the feasibility of this concession model.

In phase two, three prospective concession projects will be created to protect and regenerate six conservation units in the Amazon, covering an area of more than 1.7 million hectares.