Brazil's fledgling B4 carbon market approved forest conservation organization SOS Vida Silvestre to issue the first offsets for trading on its platform.
SOS Vida Silvestre focuses on preserving forest in the Atlantic Rainforest in Rio de Janeiro state and on reducing wildlife fatalities on highways.
The organization issued 5mn t of CO2 equivalent (CO2e) of biodiversity offsets and will use the revenues from the sale to expand its conservation efforts. The offsets were trading at R53.97 ($10.02) each today.
B4 is analyzing an additional 15.8mn t CO2e in offsets from other entities and has 73 companies that are in the process of listing offsets on the exchange. The exchange uses blockchain technology, which it argues can offer more accurate carbon offset traceability, increasing reliability of the market.
