B3 serves as the primary financial market infrastructure in Brazil, developing the technical foundations for registration, custody, trading, and settlement of environmental assets. Drawing on its experience in CVM- and Central Bank-regulated markets, B3 contributes to discussions on the future SBCE, focusing on data integrity, security, and system interoperability. Key initiatives include a partnership with ACX Brasil for a voluntary credit trading platform, a primary registry pilot using the PSA Carbonflor methodology, and a technical cooperation agreement with HKEX to explore cross-jurisdictional opportunities.
Biomas is a specialized native ecosystem restoration company formed by a consortium of Itaú, Marfrig, Rabobank, Santander, Suzano, and Vale. Using full ecological restoration — native species rather than monocultures — it generates high-integrity carbon removal credits. Its flagship Muçununga Project in southern Bahia targets ~500,000 high-integrity credits over 40 years, with an overall goal of restoring 2 million hectares of degraded land over two decades.
Vale co-created the Essential Minerals Coalition to drive emission reductions across mineral value chains. Advances in iron ore — pellets, briquettes, logistics, and shipping — could cut 100–110 MtCO₂e/year by 2050. Scaling energy-transition minerals (copper, nickel, bauxite, lithium, graphite, rare earths) sustainably could avoid 1.6–2.0 GtCO₂e globally and 260–300 MtCO₂e/year in Brazil. Vale also champions ISSB reporting standards, strengthening climate disclosures and preparing Brazil for the EU CBAM.
Dow integrates carbon market engagement into its global decarbonization strategy, monitoring Scope 1, 2, and 3 emissions through CDP with targets to reduce net GHG emissions by 5 million tons by 2030 and reach carbon neutrality by 2050. In Brazil, Dow operates industrial units in Aratu, Guarujá, and Jundiaí, and achieved 100% renewable electricity across all nine national units in 2025. It closely follows the Brazilian voluntary carbon market for high-quality compensation opportunities.
Elo contributes to carbon markets through the Elo Eco platform, which uses blockchain technology for the tokenization of carbon credits, ensuring traceability, technical diligence, and legal validation of assets — primarily from forest preservation projects with BR Carbon and Canopee. Its internal credit classification system, inspired by financial ratings, guarantees asset quality. Elo targets 150 projects by 2030, tokenizing ~70 million tonnes of CO₂ annually.
Future Climate Group is an end-to-end project developer managing the full carbon value chain from conception to commercialization. Its portfolio includes REDD+ projects Rio Madeira, Rio Preto, and Curuá in the Amazon and Cerrado, plus investments in biochar, BECCS, Enhanced Rock Weathering (ERW), and industrial energy efficiency. Following a methodology-agnostic approach under VCS and CCB standards, it delivers measurable climate and community benefits.
Itaú Unibanco bridges the regulated financial system and carbon markets as a founding member of Carbonplace, providing custody, intermediation, and financial settlement for credit transactions. As a founding partner of Biomas — alongside Marfrig, Rabobank, Santander, Suzano, and Vale — it supports the restoration of 4 million hectares across the Amazon, Atlantic Forest, and Cerrado over 20 years. Itaú also holds a leadership position on the IETA Brazil Initiative Steering Committee.
Petrobras combines decarbonization technology with ecological restoration. Its São Tomé CCS pilot in Macaé — Brazil's first — is designed to capture 100,000 tonnes of CO₂/year stored in deep saline reservoirs, backed by a $13 billion investment plan in low-carbon energy through 2030. The ProFloresta+ program acquires Amazon restoration credits via BNDES, and Petrobras co-leads Carbon Countdown to standardize carbon stock measurement across all Brazilian biomes.
Shell's strategy in Brazil centers on providing the scientific data and infrastructure for a high-integrity carbon market. Co-leading the Carbon Countdown project with Petrobras and USP, Shell collects over 250,000 soil and vegetation samples to build a public geospatial database of carbon stocks across all six Brazilian biomes. Shell's broader goal is to use nature-based solutions to offset up to 120 million tonnes of CO₂/year by 2030, targeting hard-to-abate Scope 3 emissions.
Suzano combines industrial emission reductions with nature-based carbon removals. At its Ribas do Rio Pardo unit, a biomass gasification plant produces syngas to replace fossil fuels in lime kilns, cutting fossil fuel use by up to 97%. Science-based mitigation goals cover its entire forestry, industrial, logistics, and value chain. Its Horizonte Project in Mato Grosso do Sul — an ARR initiative registered under international standards — generates high-integrity credits through certified forest management and ecological restoration.
UniCarbo is a specialized "one-stop shop" consultancy for carbon credits, managing the full lifecycle from registration to commercialization. A leader in the landfill biogas and waste sector, it helps sanitation players convert methane emissions into carbon credits and renewable energy. UniCarbo achieved a global milestone implementing the first landfill biogas project under Article 6 of the Paris Agreement in Chile, expected to generate over 600,000 ITMOs for Switzerland's climate targets.
ACX Brazil is a carbon credit trading platform integrated with B3, having facilitated the trading of over 5.5 million tonnes of CO₂ through a transparent and standardized marketplace. Part of the global AirCarbon Exchange group — operating in more than 40 countries and recognized as Best Global Carbon Exchange by Environmental Finance for four consecutive years — ACX connects local project developers and buyers to international capital flows, expanding liquidity and traceability in Brazil's voluntary carbon market.
ComBio is Brazil's leading provider of renewable thermal energy for industry through biomass. It operates 11 steam production units, generates ~3.92 million tonnes of renewable steam per year, and has avoided over 4.1 million tonnes of CO₂ since inception. ComBio participates in carbon markets through projects registered under Verra (VCS), Gold Standard, and GCC, with over 490,000 credits expected from its VCS project alone.
Mitsui & Co. leverages its global trading and investment expertise to advance low-carbon solutions in Brazil. Through a strategic MOU with Petrobras, the company is evaluating opportunities in sustainable hydrogen, biomethane, and CO₂ capture, transportation, and storage (CCS). Globally, Mitsui supports forest-based carbon solutions and nature-based carbon credit projects, while pursuing decarbonization across its diversified portfolio in energy, agribusiness, and infrastructure.