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Bolivia reduces carbon dioxide emissions

La Paz, Jun 6 (Prensa Latina) Bolivia reduced the emission of 1,740 tons of carbon dioxide per year thanks to environmentally-sustainable production measures up to the first four months of 2024, an official source ensured on Thursday.

The general manager of the Productive Development Bank (BDP), Ariel Zabala, stated that the entity, through the BDP Eco-efficiency BDP project, contributed 96 million Bolivianos (over USD$13 million) to boost this target.

Such a financing also led to energy savings of 4,83 megawatts per year, 230,811 cubic meters per year, as well as a volume of 111 tons per year of recycled waste. Introduced in October 2022, Eco-efficiency BDP is a pioneering product in the Bolivian financial system, with an innovative bid in the context of sustainable finance.

According to Zabala, this green product has specific tools to measure the impacts of financing, such as the MRV (Measurement, Reporting and Verification) and the Environmental and Social Risk Analysis System.

A little more than a year after its presentation, since December 2023, the product has been operating with its own resources, a quality of the projects with the greatest impact of Eco – efficiency BDP, which are financed with the first issue of green bonds.