💨 Abstract

Petrobras, Brazil's state-run oil firm, and the country's development bank BNDES have joined forces to launch a program named ProFloresta+. This initiative aims to finance forest restoration projects in the Amazon region. Petrobras will buy carbon credits from winning bidders, who will then be eligible for low-interest loans from BNDES.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖