Bradesco launches carbon credit certificate in partnership with BNDES

Bradesco launched on Tuesday (11), in partnership with the National Bank for Economic and Social Development (BNDES), a carbon credit certification company called Ecora. The announcement was made during an event held at Casa Esfera, in Belém, in the context of the 2025 United Nations Conference on Climate Change (COP30). Aecom Consulting and Ecogreen Fund are also partners in this initiative.

However, the institutional structure of the certifier has not yet been determined and the amount of investment has not been shared either. Marcelo Noronha, CEO of Bradesco, said that the company is scheduled to start operating in mid-2026. The two companies are still negotiating with two other private parties that have not yet been disclosed, and information about the partnership and the amounts invested will not be revealed until the negotiations are resolved.

Ecora will have its own structure with the Conservare platform and will operate within the voluntary market. The goal of the project, according to Bradesco, is to reduce dependence on international organizations in the carbon market and establish governance standards adapted to the realities of Brazilian biomes.

Noronha also stated that Brazil could be the main “hub” for carbon credit solutions in the world. “There is no more appropriate moment than this event,” he said, referring to the United Nations Climate Change Conference (COP30). “The launch of Ecora is a commitment to transparency, science and sustainable development.”

Noronha, from Bradesco: It could be Brazil — Noronha, from Bradesco: Brazil could be the main “hub” for carbon credit solutions in the world – Photo: Ana Paula Paiva/Valor

CEO Bradesco also highlighted the need for certifications adapted to Brazil’s realities. “Other certifying bodies know the facts abroad. Here we have knowledge of the reality in Brazil.” According to him, international certifiers do not understand how Brazilian biomes work and, in particular, do not know how to deal with the land issue in the country.

“We have set out a relatively conservative business plan here. But in an optimistic scenario, it is impressive what we should see in demand growth. The regulated market will reinforce this. Companies should be ready for the regulated market in 2030,” Noronha added.

BNDES President, Aloisio Mercadante, spoke in a similar context, stressing that Brazilians need to get rid of the “fool mentality”, considering that there is a very large expansion cycle in the carbon market and that the country must take the lead in the exploration process. “It’s time to have our own strategy.”

Mercadante stated that Ikora’s area of activity will be larger than just Brazil. “Our mission is the Global South and tropical countries,” he explained. The head of BNDES also made a comparison with the acronym Bricks and stated that the certification body would need to establish a “BIC” (Brazil, Indonesia and Congo) with countries that have tropical forests.