Tuesday, 24 September 2024.
The launch of this registry for carbon credits by the Brazilian stock exchange was announced last Wednesday, 18th, during the Brazil Climate Summit 2024 at Columbia University, taking advantage of the upcoming of the Climate Week in New York and in parallel with the General Assembly of United Nations / “Pact for the Future”, as we reported yesterday.
The partnership on the carbon credit trading platform had already been announced by the companies in December 2023, during COP28 in Dubai, as indicated in the press releases “B3 signs partnership with ACX to launch a carbon credit trading platform in Brasil” and “ACX Partners with B3 Connecting Brazil to the Global Carbon Markets”.
Having been active in the voluntary carbon market for a few years now and in several countries, ACX (AirCarbon Exchange) has appeared several times in Carbon Credit Markets articles.
Perhaps the most interesting one was about the move of its headquarters from Singapore to Abu Dhabi, “ACX live in the first jurisdiction to regulate carbon credits as financial instruments.”
In Brazil since 2022, ACX has been brought by the blockchain technology company BlockC, founded by Carlos de Mathias Martins.
Regarding this new phase, Carlos highlights “when the platform is fully operational, Brazil, already recognized for its relevance in the topic, will gain even more prominence globally”.
Regarding the methodology of the first registers, it will be PSA Carbonflor, mentioned a few weeks ago in our article “Cocoa, coffee, rubber tree, fruits and C+. Brazilian companies join together in a public consultation on a new methodology to remunerate sustainable agricultural practices on perennial crop farms.”
In that article we actually dealt with a new methodology, PSA Carbon Agro Perene, about which its patrons, David Canassa, Orlando Nastri and Yuri Rugai Marinho, speak today, the 24th, at an event within the scope of Climate Week in New York, “From Forests to Farms: Tackling the Environmental and Social Impacts of Food Production in Brazil”.
Cases of farms that generate carbon credits will be presented.
And tomorrow, the 25th, the protagonists mentioned above will be together with Marcelo Stabile from ECCON in the panel “Brazil's Role in a Sustainable Future: Innovating Carbon Credits & Climate Solutions”.
Click on the image below for the B3 press release “New trading platform to encourage forest conservation in Brazil” dated September 18, 2024.
It is worth highlighting that since 2020 B3 has been negotiating CBIOs (Decarbonization Credit), an environmental asset that is part of the Brazilian Biofuels Policy, know as Renovabio.
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