Reuters reports that General Motors, the world's largest automaker, has announced that it will donate $10 million to restore and protect an endangered tract of Atlantic Coast rain forest in Brazil.
The gift — the largest ever by a major corporation for the preservation of forestland — will be used to buy 30,000 acres of coastal rain forest in southern Brazil's Guaraquecaba environmental protection area. The reserve comprises 774,000 acres of mountains, lowlands, estuaries, and mangrove swamps. As international experts continue to study the role forests play in climate change, carbon-absorbing reserves such as Guaraquecaba are likely to earn "pollution credits" for Brazil in future international agreements.
"This is a recognition of the economic value that the protection of nature can provide as a credit down the road, " said Nature Conservancy spokesman Douglas Meyer.
The land, which originally was cleared for farming and raising water buffalo, will be owned and managed by the Sociedade de Pesquisa em Vida Selvagem e Educacao Ambiental, an environmental group based in Curitiba.