BNDES (National Bank for Economic and Social Development) launched the program BNDES Carbon Credits, the first regular carbon purchase by a public bank in Brazil.
According to BNDES, the The objective is to encourage projects that generate these credits, contributing to the preservation of the environment.
The initiative envisages the application of resources to commercialize carbon offsetting instruments on the voluntary market through projects that generate emission reductions and/or carbon capture. Projects will be chosen through Public Calls.
With the measure, BNDES also seeks endorse quality standards for conducting the decarbonization process of the Brazilian economy.
“The new Carbon Credits program reaffirms BNDES’ commitment to removing greenhouse gases from economic activities. The Bank makes it clear to the market that, from now on, there will be regular public calls. And this provides the necessary predictability for companies to organize themselves and structure good projects”, he explained. Bruno Laskowsky, director of Participations, Capital Markets and Indirect Credit.