Pachama Lands Carbon Credit Purchase By Shopify In Brazil

Pachama Lands Carbon Credit Purchase By Shopify In Brazil - Carbon Herald

San Francisco-based climate tech startup Pachama has announced that Canadian e-commerce leader Shopify (NYSE: SHOP) has purchased carbon credits to support a pioneering reforestation initiative in Brazil’s Atlantic Forest.

This partnership marks a pivotal moment for Pachama as it strives to introduce more high-quality reforestation projects.

The Atlantic Forest, known for its remarkable biodiversity, has suffered extensive deforestation, leaving only 12% of its original area intact.

In response to this urgent situation, Shopify has collaborated with Pachama through its Sustainability Fund to reforest around 200 hectares (490 acres) of land, a move aimed at removing 45,000 tons of carbon over 17 years.

Named Águas da Mata Atlântica, this transformative endeavor goes beyond carbon removal as it promises significant water benefits for a local community of 9 million people and the creation of numerous job opportunities.

Additionally, the project will seek to establish a crucial wildlife corridor between two remaining forest patches, facilitating the free movement of native animal species.

Relevant: Pachama Brings Series B Funding Round To $64M With $9M In Fresh Capital

Shopify’s decision to partner with Pachama underscores its dedication to supporting innovative climate initiatives, particularly those involving high-quality nature-based solutions.

This collaboration follows the lead of Latin American e-commerce giant Mercado Libre, which previously invested in the same project through its Regenera America program.

Stacy Kauk, Shopify’s Head of Sustainability, highlighted the importance of this purchase, expressing confidence in Pachama’s project quality.

Kauk stated, “We hope that by participating as a buyer, we’ll help kickstart a new generation of reforestation projects.”

Diego Saez Gil, CEO and co-founder of Pachama, emphasized the critical nature of such investments, praising Shopify’s leadership in funding innovative carbon removal solutions.

Read more: Pachama Announces Major New Forest Carbon Purchase From Mercado Libre

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