Major Demand for I-RECs in Brazil
After Itaú Bank purchased 547,000 I-RECs for their scope 2 reporting earlier this year (News item by Valor Econômico – paywall), another financial organization, Bradesco, has increased the commitment of the Brazilian banking sector with their recent acquisition of more than 1.4 million I-RECs over the next two years (link to article).
Itaú Bank is a major Brazilian bank, listed on both the Brazilian stock exchange and the NYSE. Bradesco, as part of their CSR commitments, is part of the Dow Jones Sustainability index.
The I-REC Standard congratulates all stakeholders, including Instituto Totum, the I-REC issuer in Brazil, who have made these, and many other deals, possible.