Last June, Madagascar achieved a crucial milestone: the creation of Makira Natural Park in the country鈥檚 northeast. Spanning 1,438 square miles of rainforest, the area is the nation鈥檚 largest protected area and home to 1 percent of the world鈥檚 biodiversity.

To help finance the park鈥檚 long-term conservation, the Government of Madagascar and WCS have announced a sale. The product: More than 705,588 carbon credits, certified by the Makira Forest REDD+ (Reducing Emissions from Deforestation and Forest Degradation "plus" conservation) Project.

REDD+ assigns financial value to the carbon stored in forests and compensates developing countries for reduced deforestation and forest degradation. The project also invests in low-carbon solutions to sustainable development in these areas.

鈥淭his sale is a major step forward for the Government of Madagascar in advancing the use of carbon credits to fight climate change while protecting biodiversity and human livelihoods,鈥� said WCS president and CEO Cristi谩n Samper. 鈥淲CS congratulates Madagascar and is proud to partner with them on the Makira REDD+ project.鈥�

Avoiding deforestation is an important tool for reducing carbon dioxide emissions. Scientists estimate that the destruction of forests contributes an estimated 17 percent of annual carbon emissions. Along with the benefits to wildlife, sale of these carbon credits will benefit local communities living around the area.