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By Renata Carlos Daou
Muvuca, in
Brazilian Portuguese, means a
“chaotic mix.” In agriculture, it’s a
method to restore the forest around headwaters
of rivers and streams by planting a mix of seeds
from dozens of native species, to copy the
variety of nature.
It promotes the growth
of native vegetation — expanding an
area’s ability to capture carbon — and also
prepares these new forests for climate change,
because the mix includes seeds from areas that
are already adapted to a hotter world.
“The thing is,
nature was already doing it on its own,” says
Eduardo Malta, a forest restoration expert who
helped spread the practice beyond a few
communities in the center of Brazil. “We saw
that the family farmers in that region were also
already using direct seeding in their
settlements, on their farms, and we saw the
results.”
As part of hosting
this year’s COP30 climate talks,
Brazil spearheaded an ambitious project to
create a reforestation fund called the Tropical
Forest Forever Facility. Its goal was to raise
an initial investment of $25 billion, which it
then lowered to $10 billion. As the conference
wraps up, the country has secured about $5.5
billion from Norway, France and Indonesia,
with Germany pledging to contribute another €1
billion (about $1.15 billion) over the next
decade.
As COP negotiators
wrangle over funding to curb emissions and
protect the world from climate change, muvuca is
a grassroots effort
that’s already restoring Brazil’s native
vegetation. The Instituto Socioambiental (ISA),
the non-profit where Malta works, is helping
thousands of people collect seeds from the
forest and farmlands and sell them to companies
and farmers who need them to comply with
reforestation laws.
Read the full
story on Bloomberg.com and
subscribe for unlimited access to news
on how to regrow forests.
A
$200 million restoration bet
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By Alastair Marsh
A venture set up
by Al Gore’s Generation Investment
Management has attracted $200
million in new money for a strategy that
targets the restoration of land degraded by
farming and deforestation.
Al Gore Photographer:
Naina Helén Jåma/Bloomberg
Just Climate, which
was established by Generation in 2021, got
allocations from investors including Royal Bank
of Canada, Achmea Investment Management and
the Environment Agency Pension Fund, it said in
a statement on Tuesday. The money will be
deployed in its natural climate
solutions initiative, and comes on top of $175
million raised earlier this year.
The venture, which
counts Microsoft Corp.’s Climate Innovation Fund
and the California State Teachers’ Retirement
System as anchor investors, is trying to
allocate capital into areas it’s identified as
falling through the cracks of environmental
investment strategies.
Read the full
story on Bloomberg.com.
An
abandoned lighthouse in Nassau, Bahamas Photographer:
Scott McIntyre/Bloomberg
A boutique
private-credit firm set up by former Credit
Suisse bankers has agreed to provide a lending
facility to support a new
carbon program in the Bahamas.
Under the plan, the
Bahamas will invest in protecting its marine
environment, which will form the basis of carbon
credits to be sold under Article 6 of the Paris
Agreement. ArtCap Strategies is providing a $25
million facility to help kickstart the
Bahamas Sovereign Carbon Facility, which is
seeking to mobilize up to $1 billion of
financing within the next 12 months,
said Antonio Navarro, a managing partner at the
firm, in an emailed reply to questions.
The framework for
Article 6 carbon credits was finalized at COP29
in Baku last year. So far, the program has seen
little trading activity. The Bahamas is expected
to generate “substantial revenues from the sale
of high-integrity blue carbon credits” over the
next five years, ArtCap said in a statement. The
“blue” credits are designed to help with the
conservation and restoration of seagrass
meadows, it said.
Read the full
story on Bloomberg.com and
subscribe to Green Daily for more news
on how markets and countries are implementing
Article 6.
Over the last two
weeks, tens of thousands of people took to the
city of Belem, at the mouth of the Amazon River,
for the annual United Nations climate summit:
COP30. Alongside tense negotiations, there were
Indigenous protests, daily rainstorms and even a
fire at the COP venue. But at the end of it all,
what did COP30 achieve? Bloomberg Green’s
Jennifer Dlouhy joins Akshat Rathi on Zero, to
share her takeaways.
Listen
now, and subscribe on Apple, Spotify or YouTube to
get new episodes of Zero every Thursday.
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