Notícias

Brazilian Development Bank approval of the acquisition of $10 million in carbon credits

Published in Apr 25, 2022 01:51 PM Updated in Apr 25, 2022 01:55 PM

The Brazilian Development Bank (BNDES), approved a pilot operation for the acquisition of $10 million in carbon credits. The purchases will be directed, at first, mostly to REDD+ Reforestation and Energy Origin bonds.

With this initiative, BNDES intends to support the development of a voluntary market to commercialize these titles, in addition to validating quality standards to conduct projects of decarbonization of the Brazilian economy until the end of 2022, helping preserve the environment.

Carbon credits represent the non-emission of greenhouse gases into the atmosphere. The purchase of these credits by BNDES will occur through a Public Call for the selection of REDD+ (Reducing Emissions from Deforestation and Forest Degradation) projects.

This is going to be the bank's first acquisition of carbon credits in its history, and the pilot initiative will serve as an opportunity to seek improvements and review processes before deciding on the best model. As a result, it will help Brazil create a thriving green economy.