Bank of Brazil is preparing an auction of rural properties for the month of June, and for the first time it will be possible to pay for the properties with carbon credits, either partially or in full. Bidding is already open, and the online bidding session will take place on June 7th, through the bank's auction website.
According to the bank, payment can be made entirely with carbon credits or partly with credits and partly with local currency. When using credits, the maximum unit value accepted will be R$ 88.27, according to the bank. In addition, the properties can be purchased entirely in cash. Six properties located in Goiás, Mato Grosso, Mato Grosso do Sul, Paraná, and Santa Catarina will be auctioned. The discounts offered can reach up to 55% in relation to market value.
In order to be accepted, the carbon credits used in payment must be generated according to standards and terms recognized by the regulated market or the voluntary market, such as the "Verified Carbon Standard."
Stimulus to the Carbon Credit Market
The bank states that the novelty aims to stimulate the carbon credit market, as well as allowing generators of these credits to invest in rural properties without depleting their capital.
Last year, Bank of Brazil began assisting rural producers who are clients of the institution in generating carbon credits.
"We were the first to invest in a partnership with a startup in this segment and offer a completely digital experience for buyers," says Gustavo Lellis, Director of Procurement, Infrastructure, and Heritage at the bank, in a statement. "Now, we are aligning the environmental aspect with these sales, which reinforces the bank's commitment through its Sustainability Agenda 30."
This new payment method will allow Bank of Brazil to have a new source of acquisition of this type of asset, which has been used since 2021 to offset greenhouse gas emissions from scopes 1 and 2.
In addition, the bank has invested in renewable energy and plans to inaugurate 20 new photovoltaic plants this year to meet the demand of its branches.
SOURCE: https://www.canalrural.com.br
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