The Guaraquecaba (‘Gwara-kay-sabba’) Climate Action Project is a multi-faceted initiative protecting and restoring over 17,000 acres of threatened and degraded rainforest in southeastern Brazil. The project partners, American Electric Power (AEP), The Nature Conservancy (TNC) and the Society for Wildlife Research and Environmental Education (SPVS), have joined in a creative effort to demonstrate the multiple values of carbon sequestration and conservation in addressing some of our most challenging environmental issues. The project is located in the largest remaining portion of the unique and highly endangered Atlantic Forest. The US $5.4 million endeavor will protect threatened forest, restore destroyed forest areas, provide economic alternatives to local communities, promote environmental education, introduce less destructive and more productive ranching techniques, and establish an endowment fund for operation of the protected/restored area. The project is serving as a model for the development of similar climate action projects in Brazil and elsewhere. It is expected to reduce or avoid emissions equivalent to approximately 1 million metric tons of carbon over the next 40 years.