LONDON, UK / ACCESSWIRE / January 3, 2024 / Demonstrating its commitment to social responsibility and its support of the most vulnerable, Julio Jose Montenegro, CEO of BlueGrace Energy Bolivia (BGEB), has announced strategic funding for the establishment of the Favela Bank (FBank) in Brazil, to uplift marginalized communities. This initiative not only underscores Bluegrace's dedication to making a meaningful impact but also aligns seamlessly with the United Nations' Sustainable Development Goals (SDGs), specifically in harmony with the 2030 Agenda.
Favela Bank (FBank) is an innovative financial initiative designed to empower Brazil's favelas by offering tailored services that traditional banks neglect. Recognizing the potential in the favelas' substantial GDP, FBank seeks to engage over 17.7 million residents, many of whom aspire to entrepreneurship. It's a community-centric platform, born in the favela for the favela, facilitated by 5,000 local managers and 25,000 relationship points.
FBank differentiates itself with features like an app that conserves data, the use of simplified Favelês language, and a humanized service approach. Its Social Cashback system incentivizes local spending, reinvesting profits for community development. The bank plans a phased approach, focusing on addressing immediate financial needs, introducing unique products, and eventually offering standard banking services customized for the favela residents.
Aiming to reach 5 million customers and 550 thousand commercial establishments within five years, FBank's mission is to transform the favelas into vibrant economic hubs, fostering sustainable growth, and community solidarity through its innovative banking model.
BlueGrace Energy Bolivia's active involvement in shaping positive change exemplifies a corporate ethos dedicated to creating a better and more inclusive world. This project showcases BGEB's commitment to over 90% of the UN Sustainable Development Goals (SDGs) and marks a milestone in its journey towards impactful investments and global market expansion
In line with this unwavering dedication to sustainability, BGEB's commitment to the UN's Global Compact and its ambitious project to conserve an astounding 20.5 million acres of the Amazon Rainforest reflects a resounding dedication to global sustainability goals.
This unprecedented effort not only preserves one of the world's most critical ecosystems but also aligns with the UN Sustainable Development Goals. BGEB employs cutting-edge technologies, such as artificial intelligence and satellite imagery, to quantify carbon credits accurately, making a significant contribution to global climate goals.
The global carbon credits market, projected to reach $100 billion by 2030, underscores the importance of such initiatives. Nature-based credits are gaining prominence, crucial for limiting global warming to 1.5°C by 2030, requiring $44 trillion in renewable energy investments.
BGEB's project exemplifies the intersection of finance and environmental action, with major financial institutions heavily investing in carbon credits. It's a story of innovation, collaboration, and a commitment to creating a more sustainable future.
BGEB's partnerships extend beyond environmental goals, forming strategic alliances with influential entities such as the Capital Market Association (ICMA), the Economic Commission for Latin America and the Caribbean (ECLAC), the United Nations Global Compact, and MAXIMANCE 2030 LTD. These collaborations are focused on empowering indigenous and impoverished communities through comprehensive social initiatives and sustainability, guided towards universally accepted principles in human rights, labor, environment, and anti-corruption. By enhancing access to education, healthcare, and infrastructure, BGEB is committed to fostering community development alongside its environmental efforts. This integrated approach, which marries environmental conservation with the transition to clean energy and community empowerment, establishes BGEB as a frontrunner in both ecological preservation and clean energy innovation within Bolivia.
These alliances underscore the ongoing importance of the partnership as it strives towards a sustainable and carbon-neutral future, serving as a compelling example of what collective action and innovation can accomplish.
BGEB's journey inspires us all to take action, as together, we can address climate change and protect our planet for future generations.
About BlueGrace Energy Bolivia:
BlueGrace Energy Bolivia (BGEB), a global consortium of experts in diverse areas, is committed to advancing the transition to a net-zero future in response to climate change challenges. Boasting decades of experience, our team is pioneering 21st-century energy transition projects. Grounded in professional expertise and unwavering integrity, we aim to create genuine value for business and society Learn more at https://bluegracebolivia.com/.
For further information, please contact:
JULIO JOSE MONTENEGRO
jmontenegro@bluegracebolivia.com
+1 (305) 972-6173 (Miami - EE.UU.)
NELSON PINEDA MARTINEZ
nelopineda@bluegracebolivia.com
+591 714-72257 (Bolivia)
For all media inquiries, please contact:
Ivan Linde
ivan.linde@bluegracebolivia.com
+1 (786) 273-7068 (Miami - EE.UU.)
Disclaimer
This announcement is solely for informational use and should not be viewed as financial, legal, or investment guidance. It includes projections and statements that aren't based on past events. Any statement in this release that isn't a historical fact is a projection. Readers should be aware that the basis for these projections might be incorrect and are advised not to rely solely on them. Any projections in this announcement come with a warning. They are current as of the release date, and the Company has no plans to update them, except as mandated by securities regulations.
SOURCE: BLUEGRACE ENERGY BOLIVIA
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