Brazil startup partners with agro firm to reforest degraded Amazon land

Brazil startup partners with agro firm to reforest degraded Amazon land
Aerial view of land for sale after being affected by forest fires in the prime area of Breves, in the Amazon region of the Marajo archipelago, Para State, Brazil, taken on December 9, 2024. (AFP)
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Updated 13 January 2025
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Brazil startup partners with agro firm to reforest degraded Amazon land

Brazil startup partners with agro firm to reforest degraded Amazon land
  • Deal marks first time re.green restores farmer-owned land
  • Reforestation business booming in Brazil ahead of COP30

SAO PAULO: Private equity-backed reforestation startup re.green has signed a partnership with Agro Penido to restore 600 hectares (1,482 acres) of land owned by the Brazilian agribusiness firm with native species from the Amazon rainforest, it said on Monday.
Their partnership is the latest deal for the nascent reforestation business in Brazil, home to most of the world’s largest rainforest and host of the COP30 UN climate summit this year in the Amazonian city of Belem.
Local startups including re.green, AXA-backed Mombak and Biomas — a firm established by Suzano, Santander, Vale, Marfrig, Rabobank and Itau — have been working to buy land or partner with local farmers to restore areas of the Amazon.
Turning degraded land into forests can generate carbon credits, which companies buy to offset their greenhouse gas emissions voluntarily or through regulated markets like the one Brazil has recently written into law.
Firms such as Alphabet’s unit Google, Microsoft , Facebook owner Meta and McLaren Racing have recently purchased carbon credits from Brazilian projects.
The new re.green deal represents the first time it is partnering to restore farmer-owned land, Chief Executive Thiago Picolo told Reuters, noting the firm has already bought 13,000 hectares from ranchers.
“Buying land is an important model, but we always knew that for re.green to reach the size it wants we would have to partner with landowners and involve them in this business,” Picolo said.
Re.green is backed by Brazilian billionaire Joao Moreira Salles and asset managers including Lanx Capital, Principia, Dynamo and Gavea Investimentos, which was founded by former Brazilian central bank governor Arminio Fraga.
Salles and Fraga are both on the board of re.green, whose goal is to restore 1 million hectares of land in Brazil, an area twice the size of Delaware. It announced a deal with Microsoft in May to restore 15,000 hectares in the Amazon.
The deal with Agro Penido covers areas near the Xingu Indigenous Park in Mato Grosso, Brazil’s largest grain-producing state. Picolo said re.green plans to restore forests in less productive parts of Agro Penido’s farms, some of which may yield lumber in addition to carbon credits.
Picolo said the first phase of their partnership has the potential to produce some 300,000 carbon credits over the next few decades, each representing the removal of a metric ton of carbon dioxide equivalent from the atmosphere.
He said re.green can sell its reforestation-based credits at a premium, fetching some $50 to $100 in private deals.
Scientists consider the Amazon’s protection vital to curbing climate change because of the vast amount of climate-warming carbon dioxide its trees absorb. Some critics complain the offsets allow polluters to avoid reducing their emissions.
Agro Penido, which has a separate joint venture with grains powerhouse SLC Agricola, currently has nearly 40,000 hectares producing soybeans, corn and cotton, which it aims to expand to 65,000 hectares by 2027/28.
“This is a start,” said Caio Penido, one of the owners, about the re.green deal. He added they would now evaluate other areas owned by the firm, noting it was possible for the project to double its scope to 1,200 hectares. (Reporting by Gabriel Araujo Editing by Brad Haynes and Diane Craft)


Hundreds evacuated as torrential rains flood Indonesia capital

Hundreds evacuated as torrential rains flood Indonesia capital
Updated 04 March 2025
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Hundreds evacuated as torrential rains flood Indonesia capital

Hundreds evacuated as torrential rains flood Indonesia capital

JAKARTA: Hundreds evacuated from dozens of flooded neighborhoods around Jakarta on Tuesday as torrential rains pounded the Indonesian capital and its surrounding satellite cities, causing several rivers to overflow.
There were no immediate reports of casualties after the latest deluge, but parts of the city, home to around 11 million people, ground to a halt as whole neighborhoods were swamped in muddy water.
Heavy rain began on Monday, causing some flooding in Jakarta and nearby the cities of Bogor, Bekasi and Tangerang.
Water was seen meters high in areas of east and south Jakarta on Tuesday after the rain caused the Ciliwung river to overflow, affecting 1,446 people from 224 houses in one village alone, the National Disaster Mitigation Agency (BNPB) said.
In Bogor, more than 300 people were evacuated, dozens of houses were damaged and one bridge collapsed. In Tangerang, 350 houses were flooded after the Cimanceuri River overflowed.
Residents took to rooftops or used ropes to pull themselves to safety through the floodwater in one south Jakarta district, according to an AFP journalist at the scene.
Authorities said they were distributing ready-to-eat food, blankets and tarpaulins to those affected by the floods, and deploying rubber boats to evacuate residents.
“If there is a shortage, the public can ask for more. We are ready to help,” BNPB deputy for emergency response Lukmansyah said in a statement.
The low-lying city is prone to flooding during the wet season which runs from around November to March.
In 2020 torrential rain triggered flooding and landslides that killed nearly 70 people in and around Jakarta, while thousands more were forced to evacuate to shelters.


Starmer ‘laser-focused’ on peace after US Ukraine aid pause: deputy PM

Starmer ‘laser-focused’ on peace after US Ukraine aid pause: deputy PM
Updated 59 min 41 sec ago
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Starmer ‘laser-focused’ on peace after US Ukraine aid pause: deputy PM

Starmer ‘laser-focused’ on peace after US Ukraine aid pause: deputy PM
  • British Labour government ‘focused on support for Ukraine’ and ‘bringing the US around the table alongside our European partners and Ukraine’

LONDON: UK Prime Minister Keir Starmer is “laser-focused” on securing peace in Ukraine after US President Donald Trump suspended military aid to Kyiv, Britain’s deputy prime minister said Tuesday.
Angela Rayner said the pause was “a matter for” the United States and it had not changed Starmer’s approach toward trying to find a suitable ceasefire to the Russia-Ukraine conflict.
“He’s laser focused on getting peace. He won’t be derailed by announcements,” Rayner told BBC Radio after being asked for her reaction to Trump’s announcement.
She added that the British Labour government was “focused on support for Ukraine” and “bringing the US around the table alongside our European partners and Ukraine.”
“We’ve put our money where our mouth is and stepped up our support for Ukraine through air defense, through military capabilities, and through the military aid we give year upon year,” Rayner said.
Starmer is seeking to tread a fine line between backing Ukrainian President Volodymyr Zelensky and keeping Trump onside as Europe seeks security guarantees in the event of an end to the war.
“He won’t be bounced by particular announcements overnight,” Rayner told ITV television.
“He will continue to work with our strong allies to get the peace for Ukraine and for Europe,” she added, describing the UK as an “honest broker.”
The UK’s main opposition leader, Kemi Badenoch, said Britain and Europe must “rearm faster” following Trump’s announcement.
“The news overnight that America is halting military aid to Ukraine is profoundly worrying,” she wrote on X.
“It is clear that Britain and Europe must rearm much faster if we want to provide Ukraine with more than just warm words of support.
“We must work to keep America in, and Russia out.”


Indian defense panel recommends using private sector to boost fighter production

Indian defense panel recommends using private sector to boost fighter production
Updated 04 March 2025
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Indian defense panel recommends using private sector to boost fighter production

Indian defense panel recommends using private sector to boost fighter production
  • The move comes amid India’s falling squadron strength and delayed fighter aircraft deliveries
  • Indian air chief wants to add 35-40 fighters per year to fill existing gaps, phase out older aircraft

NEW DELHI: An Indian defense committee has recommended including the private sector in military aircraft manufacturing to shore up the capabilities of the Indian Air Force, whose falling squadron strength and delayed fighter deliveries have irked its chief.
The move, if accepted, would boost India’s private defense firms and reduce the burden on state-owned Hindustan Aeronautics Ltd, which makes most of India’s military aircraft.
The committee, headed by defense ministry’s top bureaucrat, submitted its report to Defense Minister Rajnath Singh on Monday, the government said in a statement late on Monday, adding that Singh had directed that recommendations “be followed up in a time bound manner.”
The Indian Air Force’s fleet of mainly Soviet-origin aircraft has been operating with only 31 fighter squadrons compared with a target of 42 amid tense relations with neighbors China and Pakistan.
India’s Air Chief Marshal AP Singh has said that the country should involve the private sector to speed up defense aerospace manufacturing. Speaking at an event in New Delhi last week, he said India must add 35-40 fighters per year to fill existing gaps and phase out older aircraft.
Indian officials have said that Hindustan Aeronautics could deliver up to 24 aircraft powered by a General Electric engine in the coming fiscal year, which begins in April.
The company was unable to deliver any of the 83 fighters on order in the current fiscal year, in part due to the slow arrival of engines from GE, which has been facing supply chain issues.


China hits back at US imports as Trump’s fresh tariffs take effect

China hits back at US imports as Trump’s fresh tariffs take effect
Updated 04 March 2025
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China hits back at US imports as Trump’s fresh tariffs take effect

China hits back at US imports as Trump’s fresh tariffs take effect
  • Beijing also places 25 US firms under export and investment restrictions on national security grounds
  • China has accused the US of fentanyl blackmail and it has some of the toughest anti-drug policies in the world

BEIJING: China on Tuesday swiftly retaliated against fresh US tariffs, announcing 10 percent-15 percent hikes to import levies covering a range of American agricultural and food products, moving the world’s top two economies a step closer toward an all-out trade war.
Beijing also placed twenty five US firms under export and investment restrictions on national security grounds, but refrained from punishing any household names, as it did when it retaliated against the Trump administration’s February 4 tariffs.
Ten of these 25 US firms were targeted by China for selling arms to Taiwan, which China claims as its own territory.
China’s latest retaliatory tariffs came as the extra 10 percent duty US President Donald Trump threatened China with last week entered into force at 0501 GMT on March 4, resulting in a cumulative 20 percent tariff in response to what the White House considers Chinese inaction over drug flows.
China has accused the US of fentanyl blackmail and it has some of the toughest anti-drug policies in the world.
Analysts have said Beijing still hoped to negotiate a truce with the Trump administration, but the tit-for-tat retaliatory tariffs threaten to escalate into an all-out trade war between the two economic giants.
The new US tariffs represent an additional hike to preexisting levies on thousands of Chinese goods.
Some of these products bore the brunt of sharply higher US tariffs under former president Joe Biden last year, including a doubling of duties on Chinese semiconductors to 50 percent and a quadrupling of tariffs on Chinese electric vehicles to over 100 percent.
The 20 percent tariff will apply to several major US consumer electronics imports from China that were previously untouched, including smartphones, laptops, videogame consoles, smartwatches and speakers and Bluetooth devices.
China responded immediately after the deadline, announcing it will impose an additional 15 percent tariff on US chicken, wheat, corn and cotton and an extra 10 percent levy on US soybeans, sorghum, pork, beef, aquatic products, fruits and vegetables and dairy imports from March. 10, the finance ministry announced in a statement.
“The US’s unilateral tariffs measures seriously violate World Trade Organization rules and undermine the basis for economic and trade cooperation between China and the US,” China’s commerce ministry said in a separate statement.
“China will firmly safeguard its legitimate rights and interests,” the statement added.


Philippine fighter jet goes missing while on a mission against insurgents in southern province

Philippine fighter jet goes missing while on a mission against insurgents in southern province
Updated 04 March 2025
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Philippine fighter jet goes missing while on a mission against insurgents in southern province

Philippine fighter jet goes missing while on a mission against insurgents in southern province
  • The FA-50 jet lost communication during the tactical mission around midnight Monday
  • The other aircraft were able to return safely to an air base in central Cebu province

MANILA: A Philippine air force fighter jet with two pilots on board has gone missing during a night combat assault in support of ground forces who were battling insurgents in a southern province, and an extensive search is underway, officials said Tuesday.
The FA-50 jet lost communication during the tactical mission with other air force aircraft around midnight Monday before reaching a target area. The other aircraft were able to return safely to an air base in central Cebu province, the air force said without providing other details for security reasons.
A Philippine military official told The Associated Press that the incident happened in a southern Philippine province, where an anti-insurgency mission against communist guerrillas was underway. The official spoke on condition of anonymity because of a lack of authority to discuss the sensitive situation publicly.
“We are hopeful of locating them and the aircraft soon and ask you to join us in prayer during this critical time,” air force spokesperson Col. Ma. Consuelo Castillo said.
It was not immediately clear if the rest of the FA-50s would be grounded following the incident.
The Philippines acquired 12 FA-50s multi-purpose fighter jets starting in 2015 from South Korea’s Korea Aerospace Industries Ltd. for 18.9 billion pesos ($331 million) in what was then the biggest deal under a military modernization program that has been repeatedly stalled by a lack of funds.
Aside from anti-insurgency operations, the jets have been used in a range of activities, from major national ceremonies to patrolling the disputed South China Sea.