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Brazil Farmers to Earn for Preserving Nature
6 Feb
Summary
- A platform will pay farmers to keep native vegetation intact.
- The initiative connects businesses to farmers in carbon sink regions.
- The platform could attract $15 billion in investments over five years.
Agrotools, a Brazilian agricultural data firm, is constructing what it claims will be the world's largest platform for environmental service payments. This initiative, supported by a subsidized government loan, aims to compensate farmers for maintaining native vegetation on their land.
The platform connects businesses and governments committed to carbon footprint neutralization with farmers. These landowners are situated in regions identified as significant global carbon sinks, offering them lease payments for preserving natural habitats.
Agrotools estimates the platform could draw $15 billion in investments within five years. This funding is based on an anticipated annual lease payment of $100 per hectare for preserved native vegetation, potentially safeguarding vast agricultural areas.
This development comes as pressure to clear land for agriculture in Brazil has intensified. Agrotools' executive noted that farmers are increasingly looking for alternative income streams, making this platform timely for mitigating deforestation and greenhouse gas emissions.
