The first purchase of “carbon credits” was carried out at BYMA

The first transaction was recorded in the Voluntary Carbon Market presented by BYMA. The final beneficiary of the operation is the Buenos Aires Stock Exchange (BCBA), who compensated the carbon footprint generated by the 51st General Assembly and Annual Meeting of the Ibero-American Federation of Stock Exchanges (FIAB).

“The Voluntary Carbon Market is a development that provides a scope for negotiating Carbon Credits issued by entities that have projects that have been verified. In this way, BYMA allows companies, on a voluntary basis, offset their carbon emissions transparently in a trustworthy environment for this type of transaction“, it was officially explained.

The final beneficiary of the transaction is the Buenos Aires Stock Exchange (BCBA), which offset the carbon footprint generated by the 51st General Assembly and Annual Meeting of the Ibero-American Federation of Stock Exchanges (FIAB). An event where they discussed the challenges and opportunities of the Capital Market in Latin America with a focus on innovation, financial education, sustainability, among other aspects.

The measurement of the carbon footprint generated by the event was carried out by México CO2, Mexican Carbon Platform, and Genesis, Consulting firm specialized in Climate Change and Sustainable Financing. It was determined that The 46 tons were compensated through the purchase of Carbon Credits from GENNEIA, a leading renewable energy company.

“This action aligns with the growing focus on the development of ESG (environmental, social and governance) products, which seek not only to generate economic value, but also promote responsible investments that favor the preservation of the environment and social well-being“, he stood out.

In this regard, Claudio ZuchovickiSecretary of the FIAB, Director of BYMA, Manager of Capital Market Dissemination and Development BCBA – expressed: “The Capital Market has the power to promote economic development, but also the responsibility to do so in a sustainable manner. Measuring and offsetting our carbon footprint is an action that reflects the commitment of the stock exchanges that make up the FIAB. It is time for us to take leadership that not only promotes growth, but also protects our future”.

For his part, Gonzalo Pascual Merlo, CEO of BYMA, expressed: “The launch of the Voluntary Carbon Market at BYMA represents a key milestone towards a more sustainable future. Through innovations that strengthen the financial ecosystem, we seek to promote investments that will confront the climate crisis by facilitating infrastructure and providing transparency. As a Stock Exchange we create the conditions for the entire financial ecosystem and Argentine society to evolve in terms of sustainability.”

Gabriela Guzzo, Senior Commercial Manager of GENNEIA, added “We are proud to participate in the first transaction in the BYMA Voluntary Carbon Market. This pioneering operation marks a milestone on the path towards a more sustainable capital market and reinforces our commitment to climate change mitigation through local and concrete solutions. The credits come from our renewable energy projects, which lead the energy transition in Argentina, generating positive impacts on the environment and communities.”

How the BYMA Voluntary Carbon Market works

Through the Panel BYMA Visibility is given to the purchases of carbon credits that were obtained for compensation.

The project covers negotiation through systems enabled by BYMA and custody through the system of Caja de Valores SA

This is a pioneering development that BYMA incorporated into the Argentine market in October of this year. It joins impact products such as the Corporate Governance Panel, the Sustainability Index, Social, Green and Sustainable Bonds, and Bonds Linked to Sustainability.