Mercado Libre Funds Reforestation Program in Brazil

Good News Notes:

Latin American e-commerce giant Mercado Libre has tapped local tech startup Pachama to monitor the reforestation program it has funded in Brazil.

The online retailer has released US$8 million in initial investment for the ecological program known as ‘Regenera America’ . The project will be carried out by global environmental organizations — The Nature Conservancy (TNC) and the Ecological Research Institute (IPÊ).

Pachama will monitor the reforestation with the help of its satellite and machine learning technology. The startup’s technology solutions will make the project more efficient and transparent, the retailer stated in a press release.

‘Our artificial intelligence technology to analyze satellite images of forests will measure the impact of the carbon section and monitor the regeneration achieved,’ said Diego Saez Gil, Co-founder and CEO of Pachama.

Under the program, as many as 3000 hectares of land will be reforested in Brazil’s Atlantic basin. Reports say more than a million trees will be planted as part of a bid to restore ecological balance in the region.”

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