BNDES may buy up to 100 million in carbon credits this year

On the morning of last Tuesday (07/19) The BNDES' financial director, Lourenço Tigre, explained that the entity liked the experience of buying carbon credits in the first half, in the amount of R$ 10 million, and now it is already structuring another wave of acquisition, in the amount of R$ 50 million to R$ 100 million.
The amount will be allocated to projects that primarily aim to prevent deforestation in Brazil, but also invested in urban mobility offers and solid waste management, among others.
Lourenço Tigre reports on creating a voluntary carbon market at scale in Brazil, we have committed to allocating money directly to projects. Despite the low amount – R$ 10 million – it gave us exposure to different carbon credit sources and allowed us to better understand the market.
Tigre also said that the BNDES is studying the creation of an instrument for the issuance of "corporate bond” (company debt security) that will allow Brazilian and international investors to access the carbon market, but did not go into details.
Brazil has ample potential to be a provider of carbon credits based on nature (forests, for example); we are focusing our efforts on these initiatives. When we look at Brazil and its extensive vegetation cover, we understand the challenge that this represents, and for a development bank, it is important to send the right signals to the market.

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