The deal

A representative natural-capital underwrite.

14,200 hectares. Mato Grosso, Brazil. Cerrado biome. Target acquisition value $42M. Strategy: regenerative cattle conversion with integrated VM0047 ARR carbon-credit issuance over 8,400 ha of degraded pasture. Sponsor: anonymised mid-tier Brazilian agribusiness operator with two prior Verra projects issued.

14,200

Hectares under deal

142

Evidence pins across the full memo

8

Diligence verticals, framework-mapped

7 days

Polygon to committee-ready

What you'll see

Section-by-section preview.

The eight diligence verticals as they appear in the memo, with the headline finding and the confidence call. The executive (13 pp) covers the headline for each; the full memo (40 pp) carries the evidence chain.

01 · Land verdict

Title chain intact. 35.4% Forest Code reserve. Above legal minimum.

No IBAMA federal embargo overlap. Cerrado primary vegetation at 35.4% of polygon (Forest Code Art. 12 minimum: 35%). 24 evidence pins.

CONFIDENCE: A · 92%

02 · Counterparty

Sponsor clean. Two prior Verra projects issued.

Beneficial owner since 2014. No sanctions, no environmental enforcement, no PEP. Prior Pará VM0007 issued 2.4 Mt CO₂e (2024). 18 evidence pins.

CONFIDENCE: A · 88%

03 · Supply chain

Tier-2 visibility 88.4%. Six Tier-3 farms flagged for covenant.

Tier-1 direct supplier coverage: 100%. Tier-2 indirect supplier: 88.4% via GTA-to-customs reconciliation. 31 evidence pins. Escalated to senior review.

CONFIDENCE: B · 71%

04 · Carbon integrity

Additionality passed. 18.4% permanence buffer recommended.

VM0047 additionality under jurisdictional FREL: passed. Leakage estimate: 4.1%. Buffer sized at 18.4% (above 15% Verra minimum) under 20-year monte-carlo.

CONFIDENCE: A · 86%

05 · Regulatory

EUDR-eligible. CSRD ESRS E4 disclosure-ready.

EUDR Article 8 dossier complete. CSRD ESRS E4 disclosure language drafted. SFDR Article 9 eligibility confirmed. 11 evidence pins.

CONFIDENCE: A · 94%

06 · Water & biodiversity

Modified habitat (IFC PS6). 12% natural-habitat treatment.

No critical-habitat overlap. 12% of polygon flagged for natural-habitat mitigation hierarchy. IUCN Red List exposure: low. WRI Aqueduct: medium.

CONFIDENCE: A · 89%

07 · Physical climate

Fire return-period 11 years. Drought rises 18% by 2040.

40-year burn-scar history reconstructed. RCP4.5: stable. RCP8.5: drought-frequency +18% by 2040. Permanence-buffer impact priced.

CONFIDENCE: A · 85%

08 · Financial

Adjusted PD 9.7%. 20-yr EL 3.7%. Covenant drafted.

NGFS Phase 3 PD/LGD adjustment: baseline 2.1% → 9.7% with reversal layered. Tiered sustainability-linked-loan covenant drafted. Buffer-pool size recommendation journaled.

CONFIDENCE: A · 87%

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