An area the size of Switzerland, made of protected trees. Know more:
That’s the plan being hatched by a group of six companies that includes the world’s largest pulp producer Suzano and Spanish retail-banking giant Santander. More specifically, they’re proposing to plant and preserve a total of 4 million hectares of trees in deforested parts of Brazil, financing the project by selling carbon offset credits on the voluntary market.
The companies involved—Suzano, Santander, Brazilian bank Itaú, the Netherlands’ Rabobank, Brazilian mining company Vale and Brazilian meatpacker Marfrig —are creating a new company called Biomas, which will start by identifying areas that have suffered from deforestation, including in the Amazon, the Mata Atlantica rainforest and the savanna area of Cerrado. Each partner will invest Real 20 million .
Biomas plans to rely on the experience of Brazilian companies that already run massive eucalyptus farms. Suzano and its peers, for example, plant more than a million eucalyptus trees a day, although many are later harvested. By 2025, the group expects to start hiring workers and establishing tree nurseries, where seedlings will be planted before moving to the fields.
Deforestation came up repeatedly in the first week of COP27, as some climate-vulnerable countries demand restrictions on products that cause it and others seek compensation for protecting their own forests. The Amazon, where deforestation reached a record high in the first half of 2022, is one of the world’s major climate tipping points, creating an urgent need to address the problem.
But growing these farms and verifying that they are making a difference in the fight against global warming won’t be easy. Some trees never mature, or even make it into the ground. And large-scale initiatives require the right mix of resilient species and proper protections against agroforestry, as well as an equitable choice of locations. Others have tried and failed to sidestep these challenges, in some cases undermining the wider integrity of carbon offsets.
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