BVRio and SIM drive sustainable solutions and forge alliances for climate action at COP28

With a busy agenda spanning from December 1 to 10, BVRio Director, Pedro Moura Costa, and SIM Director of Investor Engagement, Steven Ripley, actively contributed to the United Nations Climate Change Conference (COP28) in Dubai. They were immersed in discussions centred around forest protection, sustainable agriculture, and the circular economy.

Pedro Moura Costa brought his expertise to diverse sessions, actively engaging in events hosted by UNEP, WWF, ISWA, and the World Economic Forum, participating in discussions on topics ranging from climate change and waste management to the launch of policy briefs by the Science Panel for the Amazon. He contributed to advancing financial markets’ role in transforming the global food system, unlocking sustainable land use and adaptation investments for climate action, to mobilising corporate climate action through high-integrity voluntary carbon markets. 

Pedro was a panellist on UNEP’s Finance Day and presented SIM’s pioneering deforestation-free soy production initiative, the Responsible Commodities Facility (RCF), as one example of groundbreaking solutions unlocking sustainable land use and adaptation investments for climate action. You can watch the full event on UNEP’s YouTube.

Pedro also joined AYA Earth Partners to discuss the ‘future of the Cerrado’ one of the most threatened and over-exploited regions in Brazil, and the location of the RCF. He commented, “Proud to be in a panel with such amazing people. All these panels may look like small individual contributions, but in aggregate, they display the multitude of people fully dedicated to tackling this mammoth challenge posed by climate change. And keep us running from pavilion to pavilion to contribute our part.”

Steven, overseeing the RCF, delved into crucial conversations on responsible commodity practices at the UNEP Pavilion, featuring a presentation on pioneering financial innovations and technical solutions for food systems transformation. Steven said, “It was encouraging to hear lots of interest from the private sector in developing commercially viable solutions, like the Responsible Commodities Facility, to help reduce emissions.” Watch the full session here.

BVRio also signed a multilateral MoU, along with other organisations, to mark the formation of Asia’s first alliance for the expansion of the Voluntary Carbon Market (VCM), a technology-based, pre-trade carbon credit market called the ‘Environmental Protection Credit Market’ (EPCM), led by SK Group. In the same event, SK Group and Shinhan announced a strategic investment in ecosecurities, a carbon credit developer partially owned by SIM.

In between their official agenda, our team engaged with numerous global climate leaders to exchange views on proposed ways forward. Among them, are members of the Brazilian delegation involved in the proposed new Tropical Forests Mechanism, which we discuss in this paper with Instituto Igarapé. We anticipate the enduring impact of their insights on shaping sustainable practices and policies in the global fight against climate change.