In its race to be the first country to sell carbon credits under a new Paris Agreement scheme, Suriname has set a price of $30 per credit in a bid to raise $144 million, the country's environment minister told Reuters on Tuesday.
The sale would bring much-needed resources to help fight deforestation in a country 93% covered in forests, said Marciano Dasai, Suriname's Minister of Spatial Planning and Environment.The 2015 Paris Agreement provides for international trading of reductions in greenhouse gas emissions, with companies or countries able to buy the reductions as credits to offset their own emissions.
The proceeds of the sale would go toward employing local workers to patrol the forest, providing an alternative to illegal logging and gold mining, Dasai said. Voluntary credits backed by "nature-based solutions," such as forest protection, peaked in January 2022 at $15.75 on the Xpansiv, the world's largest spot market, but have since fallen to around $3.
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