LatamList – Pachama, a climate tech startup, announced a new partnership with Mercado Libre to restore key ecosystems in Brazil.
Pachama is a carbon-offsetting marketplace that enables companies to support climate action. With AI machine learning and satellite imaging, Pachama is democratizing access to forest carbon credits for companies across Latin America. Companies are able to take an active role in protecting ecosystems, restoring forests, and improving carbon markets.
Pachama will be acting as a project developer in Mercado Libre’s newly launched ‘Regenera America’ program. As part of the program, Mercado Libre will invest $8M in two forest restoration projects implemented by the Nature Conservancy and the Institute for Ecological Research.
The partnership is an important step for Pachama in the expansion of its capabilities to help new reforestation projects succeed. Mercado Libre will utilize Pachama’s AI and satellite-based technologies to monitor the carbon sequestration produced by the reforestation efforts and maximize progress.
This announcement follows not long after Amazon announced Pachama as one of three Climate Pledge Fund investments last year.
Read more about Pachama here