At a ceremony held in New York on 18 May 2023, the award was presented to RCF legal counsel Pinheiro Neto Advogados, TozziniFreire, Clifford Chance and structuring partner Opea (formally Planeta Securitizadora).
RCF founder and SIM Director, Mauricio Moura Costa, commented, “Our heartfelt congratulations to the team for this award. We are thrilled that the RCF’s Green CRAs have been recognised in this way. This was the first of a kind, and posed structuring challenges that required a top team to solve.”
Writing on its website, the IFLR wrote;
“The transaction also stands out for its green credentials. There are preconditions for farmers wishing to access the financing, requiring them to commit to zero deforestation of native vegetation, over and above their legal reserves, and prevent negative climate impacts and loss of habitat. An independent Environmental Committee will review and provide input into the environmental management of the facility. Given the greater easing of foreign investment laws in Brazil, this structure’s implications are potentially wide-ranging.”