Bradesco partners with BNDES to launch carbon credit certification agency |Finance

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

However, the corporate structure of the certification body has not yet been defined and the amount of investment has not been shared. Bradesco CEO Marcelo Noronha said the company is scheduled to begin operations in mid-2026. The companies are in negotiations with two other undisclosed parties, who have not yet been disclosed, and information about the partnership and investment amount will be disclosed only after negotiations are resolved.

Ecora has a unique structure using the Conservare platform and operates within an autonomous market. Bradesco said the project aims to reduce dependence on international institutions in carbon markets and establish governance standards adapted to the realities of Brazil’s biome.

Noronha also said Brazil could become a major “hub” for global carbon credit solutions. Regarding COP30, he said, “There is no better time than this event.” “The launch of Ecola is a commitment to transparency, science and sustainable development.”

Noronha, from Bradesco: Brazil could become a major ‘hub’ for global carbon credit solutions — Photo: Ana Paula Paiva/Valor

Bradesco’s CEO also emphasized the need for certification adapted to Brazilian realities. “Other certifiers know the reality abroad. Here we have knowledge of the reality in Brazil.” He says international certifiers do not understand how Brazil’s biome works, and especially do not know how to deal with domestic land issues.

“We have made a relatively conservative business plan here. But in the optimistic scenario, the growth in demand is amazing. The regulated market will drive this up. Companies need to prepare for the regulated market in 2030,” Noronha added.

BNDES President Aloyzio Mercadante spoke in a similar vein, stressing that Brazilians need to lose their “cold mentality”, considering that there is a very large expansion cycle in the carbon market and that Brazil must take the lead in the exploration process. “The time has come to develop our own strategy.”

Mercadante said Ecola’s reach will extend beyond Brazil. “Our mission is global South and tropical countries,” he explained. The BNDES president also made a comparison with the Brics acronym and said that certification bodies should create a “BIC” (Brazil, Indonesia, Congo) with countries that have tropical forests.