BlueGrace Energy Bolivia, DevvStream (Canada), and Fico Bank (Brazil) issue SDG Bonds

LA PAZ, Bolivia - Sept. 12, 2023 - PRLog -- BlueGrace Energy Bolivia, in collaboration with DevvStream Holdings Inc., and Fico Bank Ltda., is thrilled to unveil an exciting initiative that promises to redefine environmental conservation and clean energy transition in Bolivia. This visionary partnership is driven by a shared commitment to preserving the precious Amazon rainforest and fostering sustainable energy practices while making a positive impact on local communities.

DevvStream Holdings Inc., a prominent carbon credit project development and generation company specializing in technology solutions, has entered into a memorandum of understanding (MOU) with Bluegrace Energy Bolivia (Bluegrace). This MOU designates DevvStream as the exclusive carbon credit manager for an ambitious Amazon rainforest protection project spanning 8.3 million hectares in Bolivia. DevvStream will oversee carbon credit management services and will receive a portion of the resulting credits.

Carbon credit projects in forests often struggle with strict standards. DevvStream plans to use advanced tech like AI and satellite imaging for precise carbon credit quantification. The project also supports social initiatives for indigenous communities, including infrastructure, education, water treatment, healthcare, and transportation.

Foreign Investment Company S/A (FICO S/A), established in 2008 in Panama with a branch in Brazil, has consistently demonstrated innovation in the realm of financial services tied to climate finance. They play a pivotal role in assisting both financial and non-financial entities in achieving the United Nations Sustainable Development Goals (UN SDGs). FICO S/A is an active member of the Task Force on Climate-related Financial Disclosures (TCFD) and will serve as a custodial and settlement hub for all transactions associated with the Sustainable Development Goals (SDG) Bonds within this project.

The exceptional land use in Natural Areas, as part of this MDS project, "Natural Capital-Based," utilizing the IFC - Infinite Forest Carbon methodology applied to the Natural Area Forest, automatically adheres to the principles of Social, Environmental, and Sustainability. By having no emissions, it promotes the capture and accumulation of 'tGEI.eCN' assets, totaling 3,163,960,000.00 metric tons, successfully achieving SDG Goal 13. This directly contributes to emissions reduction through permanent compensation for CMNUCC control and can also be declared as SDG Goal 13, as suggested by the United Nations.

A Vision for a Greener Future

At the heart of BlueGrace Energy Bolivia's mission is the conservation of 8.3 million hectares of Bolivia's Amazon rainforest. This endeavor marks a significant step towards setting new standards for responsible environmental stewardship and sustainable energy development in South America.

Visit https://bluegracebolivia.com for more information.