Billionaire Mark Cuban Backing $1 Billion Congo Carbon Plan (1)

A climate startup backed by investors including billionaire Mark Cuban signed a preliminary deal to generate $1 billion of carbon credits by preventing deforestation across a swath of the world’s second-biggest tropical forest.

dClimate plans to pay Democratic Republic of Congo a fee for the rights to the sequestration of 100 million tons of carbon dioxide or the equivalent on about 500,000 hectares (1.24 million acres) of peatlands for a decade, it announced Tuesday. The company will monitor the land to show that deforestation is being prevented, help Congo develop a carbon-credit registry, and sell the credits generated on the ...