Petrobras and the Brazilian Development Bank (BNDES) have launched ProFloresta+, a large-scale reforestation and carbon credit program aimed at restoring 50,000 hectares of degraded Amazon land.
This initiative is expected to capture 15 million tons of carbon dioxide (CO2), equivalent to the annual emissions of nearly 9 million gasoline-powered cars, according to a company statement by Petrobras on Monday.
With an investment of $77 million (R$450 million), ProFloresta+ will generate 4,500 jobs and marks Brazil’s first large-scale carbon restoration transaction with transparent pricing and public contracts.
Its initial phase includes purchasing 5 million carbon credits to support reforestation across 15,000 hectares.
This initiative allows Petrobras to meet its climate commitments while stimulating Brazil’s restoration sector with high-quality carbon credits, CEO Magda Chambriard said.
BNDES will offer financing for project developers through specialized credit lines like the Climate Fund, ensuring long-term sustainability.
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BNDES President Aloizio Mercadante emphasized the initiative’s potential to scale Amazon restoration efforts and contribute to Brazil’s decarbonization strategy.
ProFloresta+ establishes a new standard for carbon credit transactions, developed with technical input from the Nature Investment Lab (NIL) and the Climate and Society Institute (ICS).
These nonprofit organizations have helped define rigorous technical and socio-environmental criteria to ensure high integrity.
According to Maurício Tolmasquim, Director of Energy Transition and Sustainability at Petrobras, this standard contract for high-integrity restoration carbon credits will serve as a reference to expand Brazil’s restoration and carbon credit market.
In turn, BNDES’ Socio-Environmental Director, Tereza Campello, stressed the urgency of forest recovery in degraded Amazon regions, framing ProFloresta+ as a crucial step in turning the Arc of Deforestation into the Arc of Restoration.
