A US-headquartered food and beverage company has become the first firm to secure financing from Banco do Brasil as part of a newly-announced programme aimed at advancing the export chain of nature-friendly, low-carbon products from Brazil.
Under the Advances on Export Exchange Contracts (ACC) programme, developed by Banco do Brasil and BMO Financial Group, Sambazon will access sustainability-linked trade loans at a subsidised financing cost, the company said.
“Sambazon is honoured to be the pioneer in securing the green ACC financing from Banco do Brasil,” said the company’s CFO and COO Ricardo Perdigao in a statement.
“This deal not only strengthens our commitment to sustainability but also exemplifies our dedication to the triple bottom line – people, planet, and profit, and rewards our robust ESG policy.”
The ACC programme was announced in September, with the signing of a Memorandum of Understanding between Banco do Brasil – poised to allocate up to $200 million – and BMO Financial Group.
The initiative seeks to foster responsible practices in trade finance transactions while also supporting the supply of certified goods, starting with Sambazon’s fair trade acai products, made from a berry growing in Brazil’s Amazon forests.
AMAZON BERRIES
In 2022, the company commissioned a study to assess the impact on biodiversity in the wild harvest acai environment.
The analysis emphasised that the increasing demand for acai berries in the region poses severe threats to the Amazon ecosystem, with unregulated extraction leading to deforestation and native tree species loss.
On average, certified managed forests are home to 50% more tree species, the study said.
“The company’s leadership in sustainable practices resonates with Banco do Brasil’s vision, making Sambazon an ideal first partner for this trailblazing initiative,” the company said in a statement.
Under the ACC programme, differentiated conditions will be offered to companies meeting Banco do Brasil’s sustainability targets, the bank said in a statement.
“Banco do Brasil is focused on supporting customers that are developing world-class sustainable agriculture practices, using techniques such as direct planting, integration of agroforestry systems, and use of renewable energy in the field.”
In September, Banco do Brasil also launched a $250 mln programme with the Inter-American Development Bank for financing biological products in the Amazon.
By Sergio Colombo – sergio@carbon-pulse.com
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