The BVRio Institute is an organization with a mission to promote the use of market mechanisms to facilitate compliance with environmental laws and support the green economy in Brazil.|
The creation of the i-BVRio is part of a strategy to contribute to the development of an ecosystem of actors involved in activities related to environmental economics. In this sense, the i-BVRio performs systematically intense work of promotion and dissemination of concepts and market instruments.
Brazilian law establishes a number of obligations related to the preservation of forests, of which the maintenance of the Legal Reserve, the Reforestation and the Rural Environmental Registry and requires the maintenance area with native vegetation in rural properties (Legal Reserve). The legal reserve can vary from 20% to 80% of the property, according to the biome and the region in which they locate the property. The legislation also establishes the obligation of Reforestation, ie it requires that the extraction of forests and succeeding formations should be offset by forest planting.
The BVRio Institute promotes the use of these mechanisms and participates in the regulation of their laws process.
The BVRio due diligence system conducts a risk analysis of wood products along its supply chain, from point of production to final buyer. All information and documentation are stored in the system, using block chain technology, and can be made available for independent auditing. In the near future, this system will be integrated with BVRio's Timber Exchange, a negotiations platform for legal or certified (i.e., FSC) timber with an inbuilt due diligence and risk management system.
Keith Richmond, CEO of TIMBERWeb said "We are delighted to be working with BVRio as due diligence on timber from Brazil is now essential to support legality of timber imports into the EU"