Bolivia has one of the fastest rates of deforestation in the world, losing more than 300,000 hectares a year.
The UN wants to give companies carbon credits in exchange for conserving trees.
But the government has said no to the offer, opting to pass its own law called 'Mother Earth.'
However, not everyone is happy with the new legislation, which calls for limiting farming expansion in new areas and use of only organic materials.
Al Jazeera's Barbara Benitez reports.