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Abu Dhabi fund launched to conserve Amazon rainforest

Land, Tree, Vegetation REUTERS/Bruno Kelly/File Photo

The One Amazon Impact Fund, which will be headquartered in Abu Dhabi and was officially launched on the sidelines of Cop28 in Dubai, expects to launch its first offering in Q1 2024, raising funds to preserve the 750 million-hectare Amazon rainforest.

The fund will sell digital tokens representing the perceived value of one hectare of biome in the Amazon rainforest.

Co-founded by CEO Rodrigo Veloso, the fund is chaired by former Blackrock chief investment officer Peter Knez.

The fund will initially focus on financing projects in Colombia, with 85 percent of funds raised reinvested in sustainable infrastructure, local and indigenous community projects.

In addition, it will invest in energy transition and circular economy projects, including infrastructure and clean energy generation projects.

One Amazon has collaborated with MIT Media Lab to create a framework to monitor every hectare tokenised, creating what it calls the world’s first ‘Internet of Forest’.

Goldman Sachs will be the structuring partner for the One Amazon Impact Fund.

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