During COP27 in Sharm el-Sheikh, Egypt, Verra and CaixaBank (Brazil) signed a Memorandum of Understanding (MOU) to support CaixaBank’s increasing involvement in the carbon markets as well as the bank’s objective to advance sustainability. The MOU will also allow Verra to grow its understanding of how development banks are approaching sustainability in the context of the carbon markets.

“CaixaBank once again reinforces its commitment to the environment and low exposure to GHG emissions. I believe that, through the agreement with Verra, we will be able to offer products and services in line with market standards and direct investments towards activities that reduce and remove emissions, improve livelihoods, and protect nature, contributing to the development of sustainable businesses in Brazil”, comments Mônica Monteiro on the importance of the MOU.

David Antonioli and Mônica Monteiro sign MOU at COP27. Photo courtesy of CaixaBank

“We are very excited about this MOU given Caixa’s leading role as a development bank that is seeking to promote sustainability across its operations. Brazil offers huge opportunities for investment in climate action and we look forward to supporting Caixa’s efforts to drive finance at scale to activities that improve the well-being of people and the planet,” says David Antonioli.

About Verra

Verra is a nonprofit organization that operates the world’s leading carbon crediting program, the Verified Carbon Standard (VCS) Program, as well as other standards in environmental and social markets. Verra is committed to helping reduce greenhouse gas emissions, improve livelihoods, and protect natural resources by working with the private and public sectors. Verra support climate action and sustainable development with standards, tools, and programs that credibly, transparently, and robustly assess environmental and social impacts and enable funding for sustaining and scaling up projects that verifiably deliver these benefits.

Other partnerships

During COP27, CAIXA signed memorandums of understanding with international organizations that established partnerships aimed at improving processes and creating sustainable business models applied to the Brazilian reality.

Learn more about Brazil at the COP at: https://www.gov.br/pt-br/campanhas/brasil-na-cop/