BNDES launches Public Call for the acquisition of carbon credits 1 set 2022

BNDES launches Public Call for the acquisition of carbon credits

The Brazilian Development Bank (BNDES) published, on August 30, 2022, the second Public Call for the purchase of up to R$ 100 million in carbon credits in Brazil’s voluntary market.

In this first large-scale initiative, BNDES plans to invest up to BRL 300 million in bonds over the next three years, in order to foster the Brazilian carbon market.

BNDES has already carried out a pilot operation in the past to purchase BRL 10 million in carbon credits in five projects. Now, the maximum amount per project has been increased from BRL 2 million to BRL 25 million, and it is possible to raise fundings by investment funds, developers and landowners.

The acquisition comprises: (i) credits already issued, and (ii) “forward markets”, which are projects already approved or under approval, but which have not yet generated the credits. In this case, the contracts act as a purchasing guarantee.

In order to participate in the Public Call, scheduled for November of this year, each proponent may submit up to two projects related to reforestation, avoided deforestation, energy – which encompasses renewable energy focused on biomass and energy efficiency – and sustainable agriculture.

In addition, proponents must demonstrate experience with projects developed in Brazil or abroad over the last 5 years, listing (i) the credits effectively issued; (ii) the credits sold and its main buyers; (iii) the main results achieved in terms of social and environmental impact; and (iv) the certification of co-benefits of the developed projects.

Proponents shall have until October 3rd to submit their proposals, which must be sent through the customer portal: https://portal.bndes.gov.br/.

Our team is available for further information on the Public Call.

Main Contacts:

Alexandre Calmon
Sócio| Partner
E: acalmon@cmalaw.com

Fabiano Gallo
Sócio | Partner
E: fabiano.gallo@cmalaw.com

Marcelo Frazão
Sócio | Partner
E: mfrazao@cmalaw.com

Roberta Arakaki
Associada | Associate
E: roberta.arakaki@cmalaw.com

Maria Beatriz Gomes
Associada | Associate
E: beatriz.gomes@cmalaw.com

Laura de Castro Perez
Trainee
E: laura.perez@cmalaw.com 

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