13 Mar '12, 12am

European Company Buys Rights to Amazon Tribe's Ancestral Land

The Amazon rainforest remains one of the most mysterious regions on the planet, home to an invaluable treasure-trove of cultural and ecological wealth -- but it too can be had for the right price. Today, a carbon crediting company finalized a $120 million deal with Amazonian tribal leaders to gain sole rights to a 8,800 square-mile swath of forest in Northern Brazil. Under the terms of the contract, the tribespeople living in the region will no longer be able to grow crops or harvest timber on their ancestral land for a period of thirty years, leading some to question whether the decision was finalized with due consideration. In the agreement between indigenous South Americans and a European company, members of Brazil's Mundurucu tribe will relinquish their rights to a parcel of Amazon rainforest, roughly the area of the U.S. state of New Jersey, to Celestial Green Venture...

Full article: http://www.treehugger.com/corporate-responsibility/irish-...

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