The Brazilian government has awarded its first-ever public land concession for reforestation to startup Re.green, marking an initial attempt to use carbon credits to finance recovery of millions of acres of degraded protected areas. The company was the only bidder offering to restore and protect a 145,000-acre plot in the Bom Futuro reserve for 40 years, offering a fee of 0.7% of revenue from the sale of carbon credits earned through the project. The project will involve an Indigenous community of the Karitiana people who live in the area. The auction was a test of whether such projects can help the government achieve its goal of reforesting some 30 million acres of forest by 2030.