Climate assets and the crisis of confidence in Amazonas:

from the promise of development to juridical-reputational blockage

Abstract

The carbon market is a crucial tool against climate change, but its effectiveness depends on trust in the integrity of credits. This article explores the paradox of trust in this market in the Brazilian Amazon, where environmental richness coexists with complex socio-legal challenges. The objective is to map the legal obstacles that undermine trust in the Amazonian climate asset and to show how institutional security for investors can convert them into sustainable development. The methodology, qualitative and exploratory-descriptive, combines bibliographic research, documentary analysis, and legal-analytical examination of concrete cases. Risks such as land tenure insecurity, the absence of clear regulatory frameworks, and vulnerability to greenwashing are analyzed. It is argued that overcoming these risks, through robust governance, transparency, and benefit-sharing with local communities, can make Amazonas a laboratory of high-integrity credits. As a concrete mitigation example, the Amazonas state REDD+ system is examined, which, by operating on public lands and incorporating safeguards and benefit-sharing, offers a path of legal security from the origin of the asset. Resolving this paradox is fundamental for a fair and effective market, capable of attracting investments and promoting conservation and sustainable development in the region.