SINGAPORE, November 11, 2024 – In a joint effort to bolster sustainable land restoration and carbon removal initiatives, Trafigura, a global commodities giant, has announced a partnership with Singapore-based GenZero to expand the Brújula Verde project in Colombia’s Orinoco River Basin. This new investment of over US$100 million will double the size of the project, aiming to produce high-quality carbon removal credits by rejuvenating lands degraded by past agricultural practices and fires.
Located in one of Colombia’s most biodiverse regions, the Brújula Verde project, spearheaded operationally by Inverbosques, is set to plant over 24 million mixed-species trees. By focusing on reforestation without commercial harvesting, the project seeks to preserve natural resources while providing employment opportunities for local communities. Inverbosques, one of the area’s largest private employers, plays a pivotal role in this environmental restoration, which aims to generate substantial community benefits alongside carbon credits.
“This expansion with GenZero underscores how investment-grade carbon removal assets can attract large-scale institutional finance,” stated Matthew Nelson, Trafigura’s Head of Carbon Investments. “GenZero’s involvement will broaden the Brújula Verde initiative’s impact, bringing both ecological and economic benefits to the Orinoco region through high-integrity carbon credits.”
Hoon Ling Min, Director of Investments at GenZero, highlighted the project’s unique “restoration bridge” approach, which improves soil health and fosters the gradual reintroduction of native species. “The Brújula Verde project represents an important commitment to restoring one of Colombia’s richest ecosystems and contributes to high-quality carbon markets,” Ling Min said.
Since its launch, the project has planted 10,000 hectares across 2023 and 2024, with an additional 10,000 hectares planned. Expansions in nursery and logistical infrastructure have generated over 700 jobs, benefiting the local economy. Leading environmental organisations and technology providers are also involved, with Nature Metrics conducting biodiversity monitoring through eDNA, and Opus Insights providing digital tools for carbon monitoring and verification. Ingeobosques oversees alignment with international standards, while South Pole manages carbon asset development.
The initial issuance of carbon credits is expected in late 2025, with plans for revenue-sharing arrangements to support local social programs.