By Equipe de Redação
Posted in November 12, 2024
The Government of Pará signed a memorandum of understanding on Tuesday, 12, with AMBIPAR Carbon Credit Participações Ltda, a leading company in environmental management, for the commercialization of carbon credits within Pará’s Jurisdictional System of REDD+ (SJREDD+). The agreement was signed by the State Governor, Helder Barbalho, and Ambipar’s Vice President, Rafael Tello, during the United Nations Climate Change Conference, COP 29, held in Baku, Azerbaijan.
The document establishes the basis for a partnership between Pará’s Environmental Assets and Participations Company and AMBIPAR to increase the financial and environmental value of carbon credits, supporting regional sustainability, and expanding to other carbon credits beyond those already integrated by the State. Additionally, the memorandum encourages cooperation with multilateral entities such as the World Bank and the opening of new sustainable investments and partnerships.
According to Raul Protázio Romão, Secretary of State for Environment and Sustainability of Pará (Semas), 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.
Participation of medium and small businesses
Additionally, the signing of the memorandum guides the creation of a Special Purpose Entity (SPE), which will centralize activities related to technical evaluation, certification, and efficient commercialization of carbon credits, enhancing Pará’s environmental assets.
“This credit has great global visibility, and we want to develop projects with credibility, traceability, and that are easy and accessible for everyone concerned about it,” said Rafael Tello, Vice President of Sustainability at AMBIPAR. According to the executive, the company’s initiative ensures the desired results of the carbon credit model, which include: preservation of the state and compensation for those preserving the live forest.
According to Tello, Ambipar has the technological capability to provide these credits with the government of Pará in an innovative way, through blockchain technology, which allows for small-scale compensation with extra traceability, transparency, and reliability in the projects.
In September of this year, the state government signed a historic agreement to sell nearly R$ 1 billion in carbon credits and secure funding from the LEAF Coalition to support its deforestation reduction efforts, becoming the first state in Brazil and the first subnational state globally to achieve this.
The LEAF Coalition buyers, including Amazon, Bayer, BCG, Capgemini, H&M Group, and the Walmart Foundation, committed to purchasing 5 million emission reduction credits. The agreement will also make an additional 7 million credits available to other corporate buyers, with Emergent anticipating strong demand. The agreement is backed by purchase guarantees from the governments of Norway, the United Kingdom, and the United States, covering a percentage of the credit volumes.
The process of building SJREDD+ continues in the state, with active participation from Indigenous people, quilombolas, extractivists, and family farmers throughout the collective construction process.
The Government of Pará signed a memorandum of understanding on Tuesday, 12, with AMBIPAR Carbon Credit Participações Ltda, a leading company in environmental management, for the commercialization of carbon credits within Pará’s Jurisdictional REDD+ System (SJREDD+). The agreement was signed by State Governor Helder Barbalho and Ambipar Vice President Rafael Tello during the United Nations Climate Change Conference, COP 29, held in Baku, Azerbaijan.
The document establishes the basis for a partnership between the Environmental Assets and Participations Company of Pará and AMBIPAR to increase the financial and environmental value of carbon credits, supporting regional sustainability, and expanding to other carbon credits beyond those already integrated by the State. Additionally, the memorandum encourages cooperation with multilateral entities such as the World Bank and the opening of new sustainable investments and partnerships.
According to Raul Protázio Romão, Secretary of State for Environment and Sustainability of Pará (Semas), 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.
Production and Sustainability
Also on Tuesday, Governor Helder Barbalho of Pará participated in an event at the National Confederation of Industry (CNI) stand, where he addressed the importance of sustainability and economic growth opportunities for Brazil.
The governor emphasized the need for convergence between production and sustainability, highlighting that it is possible to generate jobs and development without compromising the environment.
“We are creating an environment of reconciliation between production and sustainability, activities that generate jobs, income, and development for our country,” said Helder Barbalho.
The head of the state executive took the opportunity to discuss the importance of the Carbon Market Bill, which is currently under review in the Senate, crucial for the legal security and predictability needed for the advancement of green businesses in Brazil, the relevance of industry in the energy transition, and the crucial role of the CNI in this process.
The head of the state executive also emphasized that “the energy transition must be accompanied by policies for controlling deforestation and sustainable land use, as well as promoting a bioeconomy that values traditional knowledge and fosters a green and sustainable economy, as in the state of Pará, with the State Plan for the Amazon Now, the Bioeconomy Plan, and the Native Vegetation Recovery Plan.”
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