BB will accept carbon credits in rural property auctions

Banco do Brasil is accepting carbon credits as a form of payment for rural properties. This payment method is unprecedented in Brazil and, according to the bank, was adopted with the aim of supporting the country’s sustainable development. These credits can be used for full or partial payment of the property.

“The bidding phase is now open, and the bidding session will be onlineat 2 pm on June 7, marking World Environment Week”, informed BB, referring to the six properties that will be auctioned in this modality, with discounts of up to 55% in relation to the market value.

The properties are located in Goiás, Mato Grosso, Mato Grosso do Sul, Paraná and Santa Catarina. To participate in the bidding, interested parties need to register on the website of the official auction house of BB, www.lancenoleilao.com.br, up to 24 hours in advance of the dispute.

“The purchase can occur 100% online, with payment in cash and carbon credit certificates, or entirely in carbon credits. These will be accepted at a maximum unit value of BRL 88.27 in both possibilities,” said the bank, noting that carbon credits must be generated according to “standards and terms recognized by the regulated market or the voluntary market, such as Verified Carbon Standard”.