World Bank Launches $225M Carbon Removal Bond for Amazon Reforestation with Mombak

Aug 15, 2024, 03:00 PM

The World Bank has launched a $225 million bond aimed at funding reforestation efforts in the Amazon rainforest. This bond, described as the world's first carbon removal bond, links investors' financial returns to the amount of carbon removed from the atmosphere. The proceeds from this principal-protected, nine-year bond will be used to support reforestation projects by the Brazilian startup Mombak. Additionally, Microsoft has committed to purchasing carbon removal units generated from these projects.