Bolivia Bets on Carbon Credits to Save Economy and Forests

Bolivia plans to sell $5 billion in carbon offset credits to finance conservation and reforestation efforts. The initiative aims to shore up the national economy and curb rampant deforestation. The credits, compliant with the Paris Agreement, could help the country achieve net-zero emissions by 2050.

Bolivia has announced plans to sell $5 billion in carbon offset credits in an effort to both boost its struggling economy and tackle deforestation. The initiative, unveiled by Economy Minister Marcelo Montenegro, aims to conserve, plant, and reforest areas devastated by rampant forest loss.

With foreign reserves depleted and increased forest fires causing environmental havoc, Montenegro emphasized the need for resources to better manage and prevent future disasters. The initiative aligns with Bolivia's goals to end deforestation by 2030 and achieve net-zero emissions by 2050.

The sovereign carbon credits, compliant with the Paris Agreement, offer foreign buyers a way to offset their emissions while contributing to Bolivia's environmental objectives. Laconic Infrastructure Partners will manage compliance through its SADAR Natural Capital Monetization platform.

(With inputs from agencies.)