UK-based international banking group Standard Chartered announced today a new agreement with the government of the Brazilian State of Acre, with the bank acting as a seller of forest protection-based carbon credits on behalf of the state over the next five years.
Under the terms of the new agreement, Standard Chartered will act as the exclusive seller of the credits into the market, with the bank noting the potential for 5 million credits to come to market in 2026. The credits will take the form of jurisdictional forest carbon credits, which cover an entire jurisdiction – as opposed to project-based carbon credits – and are overseen by the government.
