Brazil: Solinftec Raises R $140 Million for First Green CRA, Reinforces Commitment to Sustainability in Agriculture
Solinftec’s global leadership in agribusiness, and its growing engagement with the Environmental, Social and Corporate Governance (ESG) principles, has been reinforced with the announcement of its first Agribusiness “Green” Receivables Certificate (CRA Green) in the total amount of R $140 million (US $26.6 million), structured and led by Itaú BBA and Planeta Securitizadora Agro (new brand of Gaia Securitizadora).
The process started in the beginning of the year, with the distribution of the CRA Verde completed in early May. In February 2020, Solinftec announced its first CRA, also structured and led by Itaú BBA and Gaia Securitizadora.
Now, this “Green Title,” comes with the goal of maximizing the use of inputs and minimizing the environmental impacts of its clients’ agricultural operations. The funds raised will be used for environmental projects that fall into the categories of environmental management of living natural resources and land use, adaptation to climate change and eco-efficiency, pollution control and prevention, renewable energy and water management.
Solinftec is the first operation focused on agricultural products and services in the world to receive the Climate Bonds Initiative certification. Solinftec received exclusive ESG advice from Itaú BBA with additional analysis prepared by SITAWI Finanças do Bem, a company accredited by the Climate Bonds Initiative. The analysis resulted in the certificate of “Certified Climate Title” (Certified Climate Bond) as issued by the Climate Bond Initiative (CBI).
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The funds raised will be used to improve existing solutions and to develop new technologies for digital and precision agriculture with a focus on mitigation, adaptation, and resilience to climate change.
Sustainable Development
In the last five years, more than 680 thousand tons of CO2 have been avoided through the use of Solinftec’s technologies. This reduction in CO2 is equivalent to planting more than 30 million trees or electrifying more than 700 thousand cars/year (more than the annual total produced by Tesla).
These figures prove Solinftec’s commitment to delivering concrete and practical results, so that rural producers can be more sustainable, using less inputs, reducing costs and increasing productivity in real time. These findings contributed to the company achieving the International Certification of Sustainability and Environmental Responsibility granted by the renowned Dutch company Control Union, in March 2020.
Our spokespersons:
Britaldo Hernandez, CEO Solinftec
“This ‘Green Title’ represents Solinftec’s commitment to making the use of cutting-edge technology accessible to all agricultural producers, so that food production is increasingly sustainable. By exploring new technological frontiers, we are helping change the way food is produced around the world.”
Renato Barros Frascino, Director of Planeta Securitizadora Agro
“We are very happy because this Green CRA is in line with our purpose: it shows that a small investment in technology can generate a very positive impact on the environment, by optimizing the application of inputs and reducing diesel consumption.”
Leisa Souza, Head for Latin America and the Caribbean, Climate Bonds Initiative
“The issue of Solinftec’s CRA-Green confirms that green financing is a reality for agribusiness. This is the second operation certified under the Climate Bonds Standard Agriculture Criteria, and is a great example of how agribusiness has the potential to boost the Brazilian economy in a resilient way.”
Isabela Coutinho, senior ESG analyst at SITAWI Finanças do Bem
“This funding is revolutionary, as it was the first in the world to be certified as a ‘support activity outside the production unit’ within CBI’s agricultural criteria. SITAWI’s analysis, as an external evaluator and verifier for certification, concluded that the solutions offered by Solinftec can not only help mitigate the effect of climate change, but also adaptation and resilience for producers. We are very happy to be part of this milestone for Solinftec and for the green and climatic bond market related to agriculture in Brazil, a sector that has a lot of potential on the climate agenda.”
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