Banco do Brasil negotiates carbon credits on foreign market
For the first time in its history, Banco do Brasil has traded carbon credits on the international market. The bank acquired 5,000 carbon credits from the Envira Amazonia Project, a secondary market operation facilitated by the French bank BNP Paribas. It subsequently sold these credits to Standard Chartered Bank abroad. This pilot transaction conducted on Friday (Oct. 13) served as a validation test for Banco do Brasil's innovative business model.Certified by Verra, the leading assessor in the voluntary carbon market, the Envira Project contributes to forest conservation and reduction in deforestation and degradation, protecting over 200,000 hectares of the Amazon Rainforest. The project is also endorsed with the Climate, Community, and Biodiversity (CCB) certification, signifying that p...