RCF wins Green Bond Initiative of the Year

The Responsible Commodities Facility has won the Environmental Finance ‘Initiative of the year – Green Bond’ award.

The awards are judged by an independent panel and seek to recognise initiatives that excel, innovate and contribute to the successful development of the market.

RCF’s  founder and SIM Director, Pedro Moura Costa, commented, “We are delighted that the Responsible Commodities Facility has been recognised in this way. We set out to create something game-changing and achieved this with the input from our delivery partners, the Environmental Committee, and our initial investors, who all contributed to the design of the mechanism.  This award is shared with all of them.”

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Eligibility Criteria for Cerrado Programme 1

The following eligibility criteria are required for participation in the Responsible Commodities Facility for Cerrado Programme 1:

Land use

The area of cultivation must not have had any deforestation and conversion of native vegetation since 1 Jan 2020. Preference will be given to areas converted from abandoned pasture land to soy cultivation after 2008.

Forest Code Compliance

Farm land must be registered with the Cadastro Ambiental Rural (CAR) and be in full compliance with the Legal Reserve and APP requirements of the Code. The farm area must not overlap with public protected areas, indigenous lands and other traditional people and community lands (including ‘quilombolas territories’).

Land title

Farmers must have unquestionable right to use the land, be it as land title, land lease agreement, or another legally recognised form of land tenure (e.g., ‘posse’)

Legal Compliance

Farmers must demonstrate that they and their farms do not contravene any environmental or legal requirements, such as embargoes, environmental irregularities, contraventions of the labour legislation (including slave and child labour), non-compliance with the Soy Moratorium (if applicable), and internationally-accepted rules for the use of agrochemicals.