Individuals or companies can buy these bonds in order to offset their emissions of greenhouse gases. If they purchase more carbon offsets than they emit, they may sell the bonds back to the Bank to be sold.
The entity is the operational arm of the Board of Carbon, formed last September, and the Bank Foundation Environmental Ministry for the Environment and Energy (Minae), which has existed since 2008.
Among the first interested in working with bank2 are companies like Bridgestone, Reyna del Campo and Daewoo, Cooperative Coopesantos and Bank of Costa Rica.
One of the first to participate in Bank2 is the National Forestry Financing Fund (Fonafifo), whose Board of Directors yesterday approved the allocation of 1.2 million tons of carbon certificates for the program, “Fonafifo Emission Reductions Carbon Fund Program in Costa Rica”. The sale price was $5 a ton.
Bank2 is open to public and private members, national and international.
The Costa Rica News (TCRN)
San Jose Costa Rica