The Amazon Carbon Market: A 3-Month Investigation Into Who Actually Profits
I traced 14 carbon offset projects from credit issuance to revenue distribution. The findings will surprise you.
The Investigation
From July to October, I traced the financial flows of 14 carbon offset projects in the Brazilian Amazon. My research partner and I filed FOI requests, reviewed contracts published under transparency mandates, and conducted on-the-ground interviews with 23 community leaders.
The Three Findings That Matter
1. The 12% Problem
On average, 12% of carbon credit revenue reached the communities whose land hosted the projects. The remaining 88% was distributed across intermediaries, certifiers, and resellers.
2. The Contract Asymmetry
In 11 of 14 cases, contracts were drafted in legal Portuguese using technical terminology that community signatories later told us they did not fully understand at signing.
3. The Audit Loop
Three of the major certifiers in our sample audit projects that were initially structured by their own consulting arms.
What Needs to Change
This isn't a story about bad actors. It's a story about systems designed without accountability loops.
Endorsements & feedback
Exceptional rigor and clarity. The methodology section alone is graduate-level work. Reaching out via DM.