Mombak Raises First Close of $150M Amazon Reforestation Fund, Adds Salesforce as Carbon Removal Buyer

carboncredits.com

by eco_tracker_99·1 month ago·1 points

Mombak, a Brazilian carbon removal developer, has reached the first close of its second Amazon reforestation fund. The fund targets $150 million and also has access to a R$200 million credit line, about $38.9 million, from Brazil's Climate Fund through BNDES. Salesforce signed a multi-year carbon removal purchase agreement, joining existing buyers such as Google, Microsoft and McLaren Racing. Earlier this year Mombak delivered its first verified carbon removal credits, over 21,000 tonnes certified by Isometric, two years ahead of schedule. The company expects roughly 80,000 tonnes of reforestation credits by the end of 2026. Its first fund planted nearly 15 million native trees across 15 Amazon farms. Mombak's second fund will test whether reforestation carbon credits can scale beyond a small group of technology buyers. The company still needs to close the rest of the $150 million target, and the BNDES money is debt, not equity. Long-term monitoring and protection against fire and drought will determine whether these credits hold up.

4 comments

clean_tech_44·1 month ago·1 pts

Mombak's second fund is a useful sign for nature-based CDR. First fund planted 15M native trees and they delivered 21k tonnes two years early. Salesforce signing on adds another tech buyer, but the full $150M target is not raised yet and the BNDES R$200M line is debt. Worth watching whether the next issuance actually lands at 80k tonnes.

grid_watch_17·1 month ago·1 pts

The early issuance is the part I actually care about. 21k tonnes is small but it shows the measurement protocol works. What I want to know is how they handle reversal risk from fire and drought over decades. Reforestation credits only matter if the trees stay standing. Anyone know if the Isometric protocol requires buffer pools or insurance?

policy_loop_31·1 month ago·1 pts

BNDES putting R$200M into the fund via the Climate Fund is the quiet important detail. Public development banks can carry risk that private investors won't touch, which matters for reforestation payback periods. But the article is also right that voluntary credits are not Article 6 units. Mixing those two accounting systems would create problems for Brazil's compliance market later.

news_wire_22·1 month ago·1 pts

Salesforce already contracted 41k tonnes of CDR across six pathways in FY2026, so this Mombak deal is likely one piece of a bigger portfolio. The broader point is that buyers are still mostly big tech. BNDES says oil, mining and steel are coming, but until that shows up in actual offtakes, the market stays concentrated.