#Brazil #Silvania #REDD+ #Piauí

Piauí and Silvania Sign Landmark Agreement on REDD+

In a significant move against climate change and deforestation, the State of Piauí has established a pioneering partnership with Silvania, a notable player in the field of natural capital investment. This agreement, part of Silvania’s $500 million commitment to sustainable initiatives, aims to implement the jurisdictional REDD+ (JREDD) program focused on preserving forests and promoting sustainable development within the state.

About the Partnership

The arrangement was formalized through a new agreement signed with Investe Piauí, which serves as a mixed economy company representing the state. Silvania will contribute both technical and financial resources necessary for the generation and commercialization of carbon credits linked to the JREDD initiative. This collaboration is expected to play a crucial role in reducing deforestation rates while bolstering local economies through sustainable practices.

The initiative is set to receive initial funding from Silvania, aimed at ensuring the state’s certification under the ART TREES standard, which is essential for establishing credibility and transparency for the carbon credits produced. Prescribed as the offtaker for the future ART-issued credits, Silvania's involvement underlines the financial backbone that is critical for the program’s success.

Technical Support from Experts

To ensure effective implementation, Silvania has teamed up with Geonoma, an environmental services company known for its expertise in sustainable solutions. With their extensive experience in Monitoring, Reporting, and Verification (MRV), Geonoma will play a pivotal role in guiding the program's development. Through collaborations with Systemica, a Brazilian firm specializing in carbon credit management, the partnership aims to integrate leading-edge technological support into the JREDD program.

Learning From Previous Successes

Drawing inspiration from the state of Tocantins, which successfully launched a similar REDD+ initiative with Silvania, Piauí carefully evaluated its approach and opted for a public process to select a commercial partner. Silvania, in collaboration with Systemica, emerged as the chosen partner, marking another milestone in the growing portfolio of jurisdictional programs that Silvania supports.

Projected data indicates that if Piauí manages to achieve a targeted 10% reduction in deforestation annually, the state may be able to generate over 20 million carbon credits by the year 2030. These estimates emphasize performance-based expectations aligned with ongoing validations by ART.

Empowering Local Communities

The JREDD program further aims to uplift traditional communities and promote sustainable agricultural practices, ensuring that local populations gain directly from conservation efforts. The initiative is critical not just for forest protection but also for the development of sustainable opportunities for the communities involved.

The agreement also aligns with Silvania's 'Race to Belém' initiative, which strives to attract substantial private investments for forest protection leading up to COP30, a significant global climate summit.

Governors and officials have voiced strong support for the agreement. Governor Rafael Fonteles described this partnership as “transformative,” asserting its potential to create sustainable avenues for economic growth while combating deforestation. Meanwhile, Victor Hugo de Almeida, the President of Investe Piauí, emphasized accessing innovative tools that can effectively address environmental challenges while ensuring local benefits.

Celso Fiori, Silvania's Country Director for Brazil, highlighted how local commitment paired with global expertise could lead to meaningful outcomes against climate challenges. Silvania’s CEO, Eelco Hoekstra, reinforced this vision by addressing how this partnership exemplifies successful public-private collaboration, setting a high standard for REDD+ programs globally.

Conclusion

Located strategically between major agricultural regions and the Amazon, Piauí is pivotal in balancing economic development with ecological conservation. This recent agreement underscores the state’s determination to lead in sustainable development initiatives. As preparations for COP30 progress, this collaboration presents a powerful case of how concerted efforts can yield tangible benefits for both forests and communities, ensuring a healthier planet for future generations.

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About Investe Piauí: A mixed economy firm, Investe Piauí is aimed at promoting sustainable development and attracting investment to resolve environmental and economic issues.

About Silvania: Silvania specializes in sustainable finance and carbon credit generation, emphasizing partnerships that drive measurable sustainability outcomes.

About Geonoma: With expertise in biodiversity conservation, Geonoma operates on numerous environmental initiatives aimed at creating sustainable economic and ecological advantages.