08:55 AM EDT, 09/24/2024 (MT Newswires) -- Amazon.com ( AMZN ) and other firms agreed to buy carbon credits that will support the reduction of deforestation in the Brazil's Para state, home to about a quarter of the Brazilian Amazon rainforest, US nonprofit Emergent said Tuesday.

The purchase will be made through the LEAF Coalition forest conservation initiative in an agreement worth about $180 million, said Emergent, coordinator of the coalition.

The agreement signed with Emergent provides for the purchase of up to 12 million forest carbon credits generated by cuts in deforestation in Para from 2023 to 2026, with each credit representing one metric tonne of carbon emissions reductions, Emergent said.

Each credit will be bought upon issuance at $15 per tonne, the nonprofit said.

Amazon ( AMZN ) and the other buyers have committed to buying 5 million emissions reductions credits, Emergent said. A further 7 million credits will be made available for additional corporate buyers.

Amazon ( AMZN ) didn't immediately respond to a request for comment from MT Newswires.

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