The secretary of Economic Development at the City Hall of Rio, Chicão Bulhões, has a project to bring a new Stock Exchange to Rio de Janeiro. The project is not about competing with Bovespa, which would be insanity, but about having a stock exchange focused on the low-carbon economy and trading in green assets. The market for financial assets with environmental appeal is worth more than US$30 trillion. It is expected to reach US$53 trillion by 2025 — when a third of assets under management will have some ESG (environmental, social, and governance) appeal.
The first step has already been taken; the AirCarbon Exchange, a carbon credit trading platform based in Singapore, starts operating in Brazil in the first half of 2022. The information comes from the newspaper O Estado de São Paulo.
Auctions of 10 million tons of credits originated in 30 national green projects will be held in Brazil, from clean energy generators to forest conservation. AirCarbon Exchange has its office in Rio de Janeiro, in partnership with the Brazilian BlockC, created a year ago by two Americans with experience in implementing commodity markets and stock exchanges in Asia.
For Chicão, “The year has already started with great news for Cariocas: our Bolsa Verde project is in full swing! This is another step towards the resumption of the role of Rio in the capital market and the green economy in our country!“.