The partnership will increase the financial and environmental value of carbon credits, as well as facilitate the participation of medium and small businesses in this market
By Writing Team
Posted in November 12, 2024
Foto: Thalmus Gama/Secom PA
Baku (Azerbaijan), November 12, 2024 – Ambipar, a global leader in environmental solutions, and the Government of Pará signed a memorandum of understanding (MoU) for the commercialization of carbon credits within the State’s Jurisdictional REDD+ System (SJREDD+).
The agreement was signed by the Governor of Pará, Helder Barbalho, and Ambipar’s Vice President of Sustainability, Rafael Tello, during the United Nations Climate Change Conference, COP29, held in Baku, Azerbaijan, on Tuesday (12).
The document establishes the foundations for a partnership between Ambipar and the Pará Environmental and Asset Participation Company (CAAPP) aimed at increasing the financial and environmental value of carbon credits, supporting regional sustainability. The document also encourages cooperation with multilateral entities such as the World Bank, as well as the opening of new sustainable investments and partnerships.
The signing of the memorandum provides guidance on the creation of a Special Purpose Entity (SPE), which will centralize technical evaluation activities, certification, and the efficient commercialization of carbon credits, enhancing Pará’s environmental assets.
“This credit has great global visibility and will allow us to develop projects with credibility, traceability, and easy access for everyone concerned with this,” said Ambipar’s Vice President of Sustainability.
According to Tello, Ambipar has the technological capability to offer these credits with the Government of Pará in an innovative way, through blockchain technology, which allows small offsets with traceability, transparency, and extra reliability in projects.
Participation of Medium and Small Companies
For the Secretary of Environment and Sustainability of Pará, Raul Protázio Romão, the agreement with Ambipar democratizes the sale of carbon credits to the market, as medium and small businesses will be able to participate in this new sustainable economic activity.
“Today, to negotiate with the State, it involves millions of reais. Ambipar will lower this ticket and allow us to spread it out and give more access to everyone,” Romão assured.
In September of this year, the Government of Pará signed a historic agreement by selling nearly R$ 1 billion in carbon credits and securing financing from the LEAF Coalition to support its deforestation reduction efforts, becoming the first state in Brazil and the first subnational state in the world to achieve this.
About Ambipar
Ambipar is a Brazilian multinational and a global leader in environmental solutions, investing in and operating decarbonization, circular economy, energy transition, and environmental regeneration projects, present in 40 countries with more than 20,000 employees. The company is listed on B3 (AMBP3) and the New York Stock Exchange (AMBI). To learn more, click here.
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