Brazil will propose negotiating some form of financing or compensating forest conservation during the United Nations Conference on Climate Change to take place Nov. 28 to Dec. 9 in Montreal, Canada. Deforestation is responsible for 75 percent of the greenhouse gases produced in Brazil, which is why efforts are focused on containing the destruction of the Amazon.

This is “a big step forward” for a country that previously rejected inclusion of the issue in the Convention on Climate Change, Paulo Moutinho, coordinator of IPAM, Environmental Research Institute of the Amazon, told Tierramérica.

IPAM will propose “a compensated reduction of deforestation,” that would generate credits for sale on the carbon market, for reducing climate changing greenhouse gas emissions. The credits would be obtained by reducing deforestation by a set target for each country, and to surpass that target the country would have to reduce gas emissions elsewhere, explained Moutinho.