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Machu Picchu Leads Global Climate Action with Its Third Carbon Neutral Certification

Machu Picchu Leads Global Climate Action with Its Third Carbon Neutral Certification

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From the heart of the Andes, Machu Picchu once again makes history — not only as a symbol of world heritage, but as a living model of how tourism and climate action can move together toward a shared future. In 2025, the iconic destination achieved its third consecutive Carbon Neutral Certification, granted by Green Initiative, consolidating its leadership in the global movement for climate-positive and nature-positive tourism. A measurable path toward decarbonization Between 2019 and 2024, Machu Picchu achieved a 7.07% reduction in its carbon footprint per tourist, while increasing its carbon capture through reforestation and ecological restoration projects. These results are not symbolic — they are measurable, verifiable, and replicable, proving that the decarbonization of tourism is possible when data, science, and collaboration converge. Behind this achievement lies a rigorous process of measurement, reduction, and compensation aligned with international standards such as the GHG Protocol and IPCC Guidelines. Residual emissions were offset through the retirement of high-integrity carbon credits, ensuring climate integrity and transparency across all levels of reporting. A model built on collaboration The certification reflects four years of work led by the Municipality of Machu Picchu, in collaboration with PROMPERÚ, Inkaterra, AJE Group, BAM (Bosques Amazónicos), SERNANP, Ministry of Culture of Peru (Decentralized Directorate of Culture of Cusco), Tetra Pak, together with partners including CANATUR, LATAM Airlines, MSC, Inka Rail, Peru Rail, Belmond and World Xchange. The process also integrated technical cooperation with UN Tourism, UN Climate Change (UNFCCC), UNCTAD, the Peru Circular Tourism Initiative, the Consulate of the German Embassy in Peru, and the Spanish Agency for International Development Cooperation (AECID). It is a public-private and multilateral alliance that turned ambition into measurable action — a framework now inspiring similar transitions in destinations such as Cabo Blanco, Bonito, and Christ the Redeemer.    Why it matters now A decade after the Paris Agreement, and as the world looks toward COP30, Machu Picchu stands as tangible proof that climate ambition can translate into practical results. Its model merges circular economy practices — such as pyrolysis for biochar production, biodiesel generation from used oils, and recycling of PET plastics, packaging, and glass — with improvements in sustainable mobility through electric vehicles. The integration of these strategies enhances the destination’s resilience to climate change, strengthening its role as a benchmark for regenerative and low-carbon tourism. The entire process follows the principles of transparency and traceability promoted by the Circular Tourism Peru framework, under the commitments of the Glasgow Declaration for Climate Action in Tourism led by UN Tourism. Toward the world’s first Carbon Neutral Tourism Corridor Building on this success, Machu Picchu is now spearheading the creation of the World’s First Carbon Neutral Tourism Corridor, connecting district municipalities from Machu Picchu to Cusco, including Choquequirao. The initiative aims to reduce regional emissions, foster public and private investment, and promote sustainable mobility while creating a more inclusive and climate-smart visitor experience. At the same time, Machu Picchu is expanding its reach through international collaboration with other emblematic World Heritage sites such as Angkor Wat (Cambodia) and Petra (Jordan), to exchange best practices that accelerate the fulfillment of the Paris Agreement and Glasgow Declaration objectives. Voices that inspire global transformation “From the District Municipality of Machu Picchu, we remain committed to continuously monitoring our carbon footprint and promoting policies that foster a circular and regenerative economy in harmony with nature.”— Elvis La Torre, Mayor of Machu Picchu “Through public–private and multilateral collaboration, we can achieve remarkable results in decarbonizing the economy. The experience accumulated here — and that we aim to scale worldwide — shows that tourism and climate action must go hand in hand.” — Gustavo Santos, Regional Director for the Americas, UN Tourism “Machu Picchu’s leadership highlights the impact of years of scientific data collection and standardization. Climate action becomes tangible when grounded in science and collaboration.” — Daniel Galván Pérez, UN Climate Change “Machu Picchu not only represents the greatness of our history and culture, but also Peru’s commitment to a sustainable future. Being the first World Cultural Heritage Site to achieve carbon neutrality is a milestone that reflects how tourism can be a positive force for conservation and development. Today, travelers around the world seek experiences that connect with nature and respect the environment; Machu Picchu demonstrates that it is possible to experience cultural heritage in harmony with the planet. This achievement inspires us to continue promoting tourism that protects, values, and transforms.” — María del Sol Velásquez, Director of Tourism Promotion, PROMPERÚ “The certification of Machu Picchu as a carbon-neutral destination marked a milestone in the environmental management of Peruvian tourism. This achievement opens the opportunity to move toward a more ambitious model, where tourist destinations strengthen their resource efficiency, reduce their carbon footprint, foster innovation, and consolidate the participation of local communities. At MINCETUR, we work to ensure that this example inspires other destinations to advance on the path toward sustainability and resilience, in alignment with the country’s climate commitments.” — Sophia Dávila, Director of the Directorate of Environmental Tourism Affairs, MINCETUR. “Tourism does not only move economies — it moves memories, territories, and shared purpose. From CANATUR PERU, we promote a collaborative network within the sector that seeks to transform every destination into a node of sustainability, traceability, and resilience. Machu Picchu stands today as the living symbol of this transformation, reminding us that heritage is not simply preserved — it is managed with legitimacy, sensitivity, and a shared vision.” — Carlos Loayza, General Manager, CANATUR “The Carbon Neutral Certification symbolizes what happens when companies act with purpose. At AJE Group, we reaffirm our commitment to solutions that combine innovation, sustainability, and social well-being.” — Jorge Lopes-Dóriga, Director of Communication and Sustainability, AJE Group “For BAM, it is an honor to have contributed for the third consecutive year to the certification of Machu Picchu as a carbon-neutral destination, through the emission reductions generated by our REDD+ Castañeros project. This project protects more than 600,000 hectares of unique forests and directly benefits more than

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How Bonito, Brazil and FundTur (State Tourism Authority) Created the World's First Carbon Neutral Ecotourism Destination, And What It Means for Tourism Worldwide

How Bonito, Brazil and FundTur (State Tourism Authority) Created the World’s First Carbon Neutral Ecotourism Destination, And What It Means for Tourism Worldwide

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A small Brazilian municipality and state-level vision proved that tourism growth and decarbonization aren’t just compatible, they’re mutually reinforcing When the UN declared climate urgency in March 2021, followed by the Glasgow Declaration on Climate Action in Tourism that November, the global tourism industry faced a fundamental challenge: how to reconcile economic growth with climate responsibility. The goals were clear, commitments were made, but concrete examples of practical implementation were scarce. Then came Bonito, a municipality of 24,761 inhabitants in Mato Grosso do Sul, Brazil. What happened there over the following three years would fundamentally change the conversation about sustainable tourism. Bonito built a replicable model that proves destinations can grow their visitor numbers while simultaneously reducing their carbon footprint. The results speak for themselves: 52.49% growth in visitor arrivals alongside a 4.65% reduction in emissions per tourist. For an industry searching for proof that climate action and economic development can coexist, Bonito became the living laboratory the world needed. The Vision That Started It All Bruno Wendling, Executive Director of the Mato Grosso do Sul Tourism Foundation (FUNDTUR), saw what others missed. While most destinations viewed climate certification as a cost center or marketing exercise, Wendling recognized a historic opportunity. Mato Grosso do Sul possessed unique conditions: three distinct biomes (Cerrado, Pantanal and Atlantic Forest) including areas in Bonito that are part of the core zone boundaries of the Atlantic Forest Biosphere Reserve, decades of consolidated ecotourism experience, and most importantly, Bonito, a global icon of sustainable tourism that had demonstrated for over 30 years how territorial organization could simultaneously promote environmental conservation, economic development, and effective governance. But the vision transcended simply certifying one municipality. The goal was to position Brazil as a global leader in climate solutions for tourism, establishing a demonstrative laboratory that would prove, with measurable data and replicable methodology, that tourism growth and decarbonization could walk hand in hand. A Partnership Model That Works The genius of the approach lies in its structure. Instead of a siloed initiative, a tripartite partnership was established that combined three complementary forces. FUNDTUR brought state-level institutional articulation, long-term strategic vision, and the capacity to create necessary political and technical conditions. Bonito’s certification represented the first step in the tourism sector’s contribution to a broader state strategy: making Mato Grosso do Sul carbon neutral by 2030. The Municipality of Bonito assumed local implementation, providing detailed operational data, infrastructure, and community engagement. The municipality already had decades of experience with carrying capacity control systems, mature collaborative governance, and solid international reputation in sustainability. Green Initiative completed the tripod with proven international technical expertise, having previously certified Machu Picchu (UNESCO World Heritage Site, Peru) as a carbon neutral destination. The organization offered methodology based on international standards (GHG Protocol, IPCC guidelines, ISO 14064-1:2018) with flexibility for adaptation to Brazilian reality while maintaining scientific rigor. This strategic convergence created exceptional conditions: a partner with systemic state vision, a territory with ideal conditions to serve as a pilot, and internationally proven technical expertise. A Vision for Brazilian Leadership Bruno Wendling, Executive Director of FundTur (Mato Grosso do Sul State Tourism Foundation), reflects on the strategic vision behind the initiative: “When we launched this project in 2021, we weren’t just thinking about certifying one destination. We were thinking about positioning Mato Grosso do Sul as a global leader in climate solutions for tourism. Mato Grosso do Sul has unique conditions: three strategic biomes, decades of ecotourism excellence, and Bonito as a living laboratory. But what really matters is proving that sustainable tourism isn’t a cost, it’s an investment that generates measurable returns. Our goal extends far beyond Bonito. We’re building the foundation for Mato Grosso do Sul to become carbon neutral by 2030, and creating a replicable model that can transform tourism across Brazil and internationally. The results speak for themselves: more visitors, less emissions per tourist, international recognition, and most importantly, a clear pathway for other destinations to follow. Climate action isn’t optional anymore. Destinations that act now will lead tomorrow’s tourism market. Those that wait will find themselves left behind. It’s important to emphasize that this all began as a state-level strategy. Mato Grosso do Sul has been increasing its productivity while simultaneously expanding planted forest areas on lands that were previously degraded pastures. Tourism has become a powerful force for giving visibility to this transformation. We’re leading by example, and the private sector is responding. Local entrepreneurs are embracing the climate agenda, with businesses like Grupo Rio da Prata certifying their attractions. What started as a public sector initiative has inspired the entire tourism industry. FundTur became a reference point for entrepreneurs themselves, demonstrating that when government leads with concrete action, the market follows.” The Results That Changed Everything Let’s talk numbers, but more importantly, let’s understand what they really mean. Environmental Impact Between 2021 and 2023, Bonito achieved: This last figure transformed the entire narrative about forest conservation. It’s no longer just about protecting the environment for ethical or regulatory reasons; preserved forests became a measurable economic asset, an integral part of the local tourism business model. In waste management, 758 tons of organic waste were composted between 2022 and 2024, producing 189 tons of compost and avoiding methane emissions. This circular economy doesn’t just reduce emissions — it creates value and transforms problems into solutions. International Recognition The work didn’t go unnoticed: More than trophies, these recognitions represent something crucial: internationally established technical credibility. This credibility opens doors to future access to international climate financing resources like the Green Climate Fund (GCF) and Global Environment Facility (GEF), while attracting private investments from the growing ESG market. Spontaneous media coverage exceeded one million dollars in equivalent value, positioning Bonito, and by extension, Brazil, as a global protagonist in climate solutions for tourism. Social and Economic Impact The 313,316 tourists who visited Bonito in 2023 experienced carbon neutral tourism and participated in climate education programs, becoming multipliers of the message that different tourism is possible. Over 100 professionals were trained

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Riding the Wave of Change: How Roberto Meza “Muelas” Is Mobilizing Peru’s Surf Industry Toward Innovative Climate- and Nature-Positive Action

Riding the Wave of Change: How Roberto Meza “Muelas” Is Mobilizing Peru’s Surf Industry Toward Innovative Climate- and Nature-Positive Action

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The ocean has always been Peru’s stage for surf legends. Today, it’s also becoming the frontier of climate leadership—thanks to visionaries like Roberto “Muelas” Meza, founder of Olas Perú and Global Ambassador of the World Surf Cities Network (WSCN). Earlier this month, Olas Perú officially launched its 2025–2028 Sustainability Plan at the Municipal Palace of Miraflores. The event marked a milestone not only for Peruvian surf culture but for global sustainability in sports. With this initiative, Olas Perú reaffirmed its role as the world’s first carbon-neutral surf school, setting the standard for surf communities everywhere. From Surfboards to Sustainability Boards Under the leadership of Meza and Director Silvana Pastorelli, Olas Perú’s new plan revolves around five strategic pillars: “This plan is not just a document—it’s our commitment to Peru, to the ocean, and to future generations,” said Pastorelli. “We invite everyone to paddle together toward a surf culture that inspires, regenerates, and transcends.” For Meza, sustainability isn’t an accessory—it’s the new wave that must carry the entire surf ecosystem forward. As an active voice within the WSCN, he has been instrumental in connecting surf cities like Miraflores and Cabo Blanco through shared goals of carbon neutrality, circular tourism, and climate-positive coastal management. Measuring Impact: From Commitment to Certification Olas Perú’s commitment to sustainability is backed by concrete results. In 2023, the organization conducted a rigorous carbon footprint measurement following ISO 14064-1:2018 and the Greenhouse Gas Protocol standards, covering all emission sources—from transportation to energy use and materials. These emissions were fully offset through Certified Emission Reductions (CERs) issued by the United Nations, derived from a renewable energy project in India, enabling Olas Perú to contribute to the global clean energy transition. This achievement positions Olas Perú not only as a pioneer in Latin America but as a model for surf schools worldwide, proving that sports can grow in harmony with the planet. The Power of Partnership The launch event brought together key partners and institutions shaping Peru’s green transition. Representatives from PromPerú, CANATUR, Hazla por tu Ola, LATAM Airlines, and the Municipality of Miraflores joined the discussion panel “Surf and Sustainability: Waves of Change for Peru.” Their collective message was clear: sustainability in sports thrives when public and private sectors paddle in the same direction. Olas Perú’s leadership was also recognized with the Marca Perú (Peru Brand) distinction, underscoring its role as an ambassador for responsible tourism and national pride. Miraflores and Cabo Blanco: Twin Beacons of Climate Action The Mayor of Miraflores, Carlos Canales, highlighted the district’s recognition as an official Surf City within the WSCN—thanks in large part to Olas Perú’s decades of work. Miraflores now stands beside other Peruvian coastal destinations like Cabo Blanco, which recently advanced its own sustainability agenda through the Turismo Circular Perú project, financed by AECID and the European Union and implemented with the Green Initiative. While Miraflores symbolizes the urban surf model of circular governance, Cabo Blanco represents the community-driven transformation of rural coastal tourism. Together, they embody Peru’s emerging identity as a global laboratory for climate and nature-positive development in surf cities. A Movement That Transcends the Ocean With over 33 years of history, Olas Perú continues to inspire athletes, educators, and policymakers to view surfing not only as a sport but as a vehicle for environmental restoration and social inclusion. By integrating education, circular economy principles, and ecosystem conservation into its operations, Olas Perú demonstrates how surf schools can become agents of decarbonization—turning every wave into a ripple of positive impact.Through the guidance of Roberto “Muelas” Meza and the support of partners like Green Initiative, PromPerú, and WSCN, the country is charting a new course: one where sustainability is as natural as the tide and where Peru’s surf cities ride together toward a climate-positive future. This article was written by Musye Lucen from the Green Initiative Team. Related Reading

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Cabo Blanco Launches Workshops on Circular Tourism and Carbon Management Skills, Jobs, and Growth for a Sustainable Future

Cabo Blanco Launches Workshops on Circular Tourism and Carbon Management: Skills, Jobs, and Growth for a Sustainable Future

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The Cabo Blanco Carbon Neutral Certification Project—led by the Municipalidad Distrital El Alto, CANATUR, AECID (Cooperación Española), the European Union, and organized by Green Initiative, responsible for the technical assistance of the Circular Tourism Peru project, with funding from AECID and the European Union, and with the valuable support of partners including Inkaterra Hotels, ITA Inkaterra Asociación and Olas Perú—is setting a new benchmark for sustainable tourism in northern Peru. At the core of this initiative is the creation of specialized training workshops designed to strengthen the technical and operational capacities of local tourism actors, both public and private. These sessions will enable stakeholders to adopt circular economy practices and implement carbon management tools, ensuring that Cabo Blanco advances toward becoming a climate-neutral and internationally competitive destination. Building Local Skills for Global Competitiveness The workshops—organized under the Turismo Circular Perú project, led by CANATUR with the support of AECID (Spanish Cooperation), the European Union, and carried out by Green Initiative —will combine technical training with practical application. Participants will learn how to: As Carlos Loayza, General Manager of CANATUR, notes:“These workshops are not just about knowledge transfer—they are about giving our communities the tools to become leaders in sustainable tourism, generating opportunities for business and employment while caring for the environment.” Driving Socio-Economic Benefits Investing in sustainability has clear economic advantages. Studies of certified sustainable hotels have shown measurable benefits, including higher revenue per available room (RevPAR) and stronger competitiveness. At the same time, niche markets such as surf tourism are already delivering significant local impact: in nearby Lobitos, surf tourism injects an estimated US$3.6 million annually into the local economy through visitor spending. By equipping Cabo Blanco’s stakeholders with the right skills, the workshops are expected to: As Tatiana Otaviano, Head of Relationships of Green Initiative, explains:“Sustainability is no longer just an environmental responsibility—it is an engine for prosperity. By training local actors in circularity and carbon management, we ensure that Cabo Blanco’s communities benefit directly from tourism growth.” A Shared Commitment The Cabo Blanco Carbon Neutral Certification Project represents a collective effort: As Mayor Reedy Bancayán Palomino of El Alto affirms:“For Cabo Blanco, this project is about more than tourism—it is about shaping a sustainable future, creating opportunities for our youth, and positioning our community as a global example.” Agenda – Cabo Blanco Carbon Neutral Certification Project Launch Location: Cabo Blanco, El Alto District, Piura – Peru Date: October 1, 2025Time: 14:00 hrs 1. Welcome and Introduction – 20 min Cultural activity: traditional local performance 2. Workshop: Circular Tourism Peru Project – 45 minOrganized by CANATUR, with funding from AECID – European Union and technical support from Green Initiative. 3. Cabo Blanco / El Alto Destination Development – 30 min Closing: Signing of the Glasgow Declaration on Climate Action in Tourism Looking Ahead These workshops are not isolated events; they are catalysts of transformation. By investing in capacity-building, Cabo Blanco is laying the foundation for a climate-positive, circular, and inclusive tourism model that delivers measurable environmental benefits while driving socio-economic growth.From training to action, from local empowerment to global recognition—Cabo Blanco is proving that sustainable tourism can create jobs, strengthen communities, and protect the planet. This article was written by Musye Lucen from the Green Initiative Team. Related Reading

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Machu Picchu Achieves Significant Reduction in Carbon Emissions Since 2021 Certification

Machu Picchu’s Journey to Carbon Neutrality: Acelerating public and private decarbonization investments

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Machu Picchu, Peru – Leading Climate Action in Tourism Amidst the lush Peruvian Andes, Machu Picchu—one of the world’s most iconic cultural and natural landmarks—is redefining what it means to be a sustainable travel destination. With over 1.5 million visitors each year, the challenge was immense—but the will to act was even greater. In a recent interview for the Observatorio de Descarbonización y Economía Circular of the Cámara Nacional de Turismo (CANATUR), Elvis La Torre, Mayor of the District Municipality of Machu Picchu, shared the region’s ambitious climate goals, achievements to date, and critical lessons for the global tourism sector. A Bold Start: Why Machu Picchu Chose Decarbonization The decarbonization project officially began in 2021, led by the District Municipality of Machu Picchu, in collaboration with Inkaterra Asociación and Green Initiative. The decision was made in response to the urgent need to reduce the environmental impact of mass tourism and to shape a more resilient, sustainable development model following the COVID-19 crisis. Using 2019 as the baseline year, Machu Picchu began the Carbon Neutral Certification process and soon became the first UNESCO World Heritage Site to earn this recognition. In 2022, the destination became a signatory of the Glasgow Declaration on Climate Action in Tourism, further reinforcing its leadership in climate-smart tourism. “This certification, led by Green Initiative, gave us the opportunity to position Machu Picchu as a global leader in climate-intelligent tourism,” said Mayor La Torre in the CANATUR interview. Tangible Climate Results: From Waste to Regeneration To date, the outcomes have been remarkable: These milestones were achieved through robust collaboration among public and private stakeholders. Notably, Inkaterra, Grupo AJE, WorldXchange and Tetra Pak played key roles in implementing circular solutions. Luz del Sur provided technical assistance, while CANATUR offered strategic support, reinforcing strong climate governance. Additionally, Machu Picchu’s carbon footprint has been fully offset with 2,155 carbon credits from the REDD+ Brazil Nut Concessions project by Bosques Amazónicos (BAM), which protects over 600,000 hectares of megadiverse forests and supports more than 800 Amazon Brazil nut harvesting families in Madre de Dios, Peru. What’s Next: Scaling Impact and Inclusion Despite significant progress, major challenges remain. Chief among them is the need to expand both public and private financing to scale up the most impactful decarbonization initiatives—such as energy efficiency in tourism services and large-scale ecosystem restoration. Equally important is the continuous strengthening of existing programs, particularly those involving waste management through circular economy principles and the transition to clean energy. Most critically, there is a growing need to increase the active participation of local communities and businesses. Their involvement will be essential to ensure that this regenerative and carbon-neutral tourism model becomes permanent and self-sustaining. “The active participation of all stakeholders will be key to consolidating a regenerative and carbon-neutral tourism model that stands the test of time,” affirmed Mayor La Torre. A Model for the World Machu Picchu’s decarbonization journey is more than a local success story—it is a global call to action. As destinations worldwide face the escalating impacts of climate change, Machu Picchu proves that protecting heritage, supporting local livelihoods, and leading in climate action can go hand in hand. By embracing bold decisions, inclusive governance, and science-based climate solutions, Machu Picchu is charting a path toward a climate and nature-positive future—one that others can follow. 📌 Learn More & Get Involved Is your destination or organization ready to take the next step toward climate and nature-positive leadership? Discover how our certification and advisory services can help you generate measurable impact. 📩 Contact our team This article was written by Yves Hemelryck from the Green Initiative team Related Reading

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Why Financial Institutions Should Measure Their Carbon Footprint and How AlphaMundi and Bankamoda Are Leading the Way

Why Financial Institutions Should Measure Their Carbon Footprint?

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When discussing how to tackle climate change risks, the role of financial institutions is more important than ever. Banks, funds, and investors have the power to support the transition to a low-carbon economy. But to do that effectively, they need to start by asking a key question: What is the carbon footprint of their portfolio? Measuring the carbon emissions linked to loans and investments is one of the most pragmatic and powerful steps a financial institution can take. It’s about more than just sustainability reports or meeting regulations — it’s about knowing where they stand so they can make better decisions, reduce risks, and unlock new opportunities for financing. In this post, I’d like to explore why measuring and certifying the carbon footprint of investment portfolios matters and how the Green Initiative is helping financial institutions turn climate ambition into climate action. Let’s take a closer look, including a real example of how two financial organizations — AlphaMundi Group, a Swiss impact investment manager, and Bankamoda, a Colombian fintech for the fashion industry — are putting this into practice. Why Portfolio Emissions Matter? While a lot of money is being directed toward climate solutions (technology or nature-based), much of it isn’t reaching the businesses that need it most — especially small and medium-sized enterprises (SMEs). In Latin America and the Caribbean, for example, local commercial and development banks receive millions in mitigation finance but deploy less than 30% to the SMEs that are actually driving the transition. One major reason for this underperformance is that many financial institutions lack accurate data on the carbon emissions of the companies they engage with. That makes it difficult to identify climate risks, target high-impact investment opportunities, or access funding from climate-focused investors. The Benefits of Measuring Portfolio Emissions Here’s what happens when a financial institution starts tracking the carbon footprint of its portfolio: 1. Better Risk Management Knowing your portfolio’s carbon footprint helps you avoid investments that could become risky or obsolete in a low-carbon economy.Carbon-intensive investments carry serious financial risks due to regulatory pressure, stranded assets, and reputational damage. Knowing your emissions is the first step to managing them. 2. Easier Access to Climate Finance Funders — from multilateral banks to private investors — increasingly look for partners who can demonstrate climate impact. Financial institutions that consistently measure and report carbon emissions are better positioned to attract ESG and impact investors, and unlock opportunities such as green bonds and blended finance solutions. 3. Stronger Market Position Once financial institutions and their investees understand where carbon emissions are coming from, they can meaningfully engage in decarbonization. This insight enables the development of climate-smart financial products — such as green loans — and supports clients in reducing their own carbon footprints.The result? Financial institutions can deploy more climate mitigation finance, while companies gain competitive advantages through access to high-value, climate-linked solutions. Regulatory Change Is Coming — And So Is Opportunity With new climate-related trade regulations emerging — such as the EU’s Carbon Border Adjustment Mechanism (CBAM) and the Deforestation-Free Products Regulation (EUDR) — understanding and managing carbon emissions will become a core competency for any organization, including financial institutions. Helping clients adapt and integrate carbon footprint management into their business models is a crucial role for financial institutions — and likely one of the most important paths to unlock new revenue streams and resource mobilization. AlphaMundi’s Commitment to Climate-Smart Investing AlphaMundi Group— under the leadership of Tim Radjy— supports businesses that generate measurable social and environmental impact across Latin America and Sub-Saharan Africa. Recognizing the intrinsic connection between poverty alleviation, social wellbeing, and climate risks, AlphaMundi is progressively integrating decarbonization metrics into its investment fund goals. These new capacities will help AlphaMundi demonstrate its leadership in carbon mitigation, as well as its ability to identify and deploy climate finance opportunities. To make this happen, AlphaMundi partnered with the Green Initiative to decarbonize its portfolio, measure client emissions, set reduction targets, and facilitate access to climate finance. Bankamoda: A Case Study in Climate and Inclusion One of the companies benefiting from this approach is Bankamoda, a Colombian fintech led by entrepreneur María del Mar Palau. Bankamoda provides financial services to micro, small, and medium-sized businesses in Colombia’s fashion industry — a sector that is both economically vital and traditionally underserved by mainstream finance. With the support of AlphaMundi and guidance from the Green Initiative, Bankamoda has: How Green Initiative Makes It Simple This is where the Green Initiative comes in. With years of experience supporting organizations worldwide, it has developed a step-by-step framework to help financial institutions integrate climate action into core operations: The Time to Act is Now For financial institutions, measuring portfolio carbon emissions is more than a technical task — it’s a strategic move. By taking action, they can lead the shift toward a climate-smart economy, reduce risks, attract new funding, and fulfill their role as key agents of change. The partnership between AlphaMundi and Bankamoda shows what’s possible when financial institutions embrace climate finance as an emerging and fast-growing opportunity with tangible benefits for long-term prosperity and competitiveness. The sooner your institution begins this journey — turning climate ambition into climate action — the greater your role in catalyzing mitigation finance and decarbonizing the economy. With the support of the Green Initiative, your institution can begin measuring the carbon emissions of its investment portfolio today — pragmatically, effectively, and with a vision for a greener future. 💡 Ready to take the next step? Reach out to Green Initiative and start building a greener, more resilient portfolio today. This article was written by Tatiana Otaviano from the Green Initiative Team. Related Articles

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Rio de Janeiro's Cristo Redentor Launches Climate Certification A New Era for Sustainable Tourism and UNESCO World Heritage Sites

Rio de Janeiro’s Cristo Redentor Leads the Way for COP30: Climate Action in Tourism for a Resilient Future

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Cristo Redentor Sanctuary, Rio Book, and Green Initiative Sign Collaboration Agreement to Launch Climate Certification of this Iconic UNESCO World Heritage Site Aligned with UN Tourism efforts to promote sustainable tourism best practices across the region, and inspired by the achievements of Machu Picchu, the Santuário Cristo Redentor, Rio Book, and Green Initiative have signed a collaboration agreement to launch the climate certification process of Cristo Redentor — an emblematic cultural and religious landmark recognized as a UNESCO World Heritage Site. “Our vision for a thriving tourism sector, aligned with the great challenges humanity must overcome, is clear: tourism development and decarbonization can — and must — go hand in hand. Through this initiative, leveraging the powerful symbolism of Cristo Redentor in Rio de Janeiro, we aim to carry this message not only to other destinations in the region but to the entire world.” — Gustavo Santos, UN Tourism Director for the Americas Located within the lush Tijuca Forest National Park in Rio de Janeiro, Cristo Redentor stands as a powerful symbol of the interconnection between culture, spirituality, and nature. The Sanctuary leads a robust environmental sustainability agenda through its institutions, such as the Instituto Redemptor and the Obra Social Leste Um, coordinated under the Consórcio Cristo Sustentável. Guided by the United Nations’ 2030 Agenda and the Sustainable Development Goals (SDGs), the Sanctuary is progressively internalizing best practices in environmental and social governance, aiming to generate a positive climate impact across all its activities. “Cristo Redentor, a universal symbol of welcome and inclusion, is on its way to its centenary in 2031, establishing itself as the first cultural and religious tourist destination in Brazil to achieve this level of commitment to climate sustainability in the management of its activities. Our strategic planning and governance are aimed at integrating the best environmental practices, with the goal of positioning our monument as a communicating agent that conveys the urgent need for the holistic care of our common home.”— Father Omar Raposo, Rector of the Santuário Cristo Redentor (Christ the Redeemer Sanctuary) On April 24th, during a historic event held in Belém do Pará, the Sanctuary signed two strategic agreements. First, a Protocol of Intentions with the Government of the State of Pará to jointly advance climate and sustainability agendas ahead of COP30. Second, a collaboration agreement with Rio Book and Green Initiative to initiate the climate certification process of Cristo Redentor’s management, with a progressive strategy towards achieving a positive climate impact. Through this collaboration, Cristo Redentor will undergo a comprehensive climate certification process aimed at assessing and mitigating its carbon footprint, integrating climate action at the core of its management model. “Being involved in the Cristo Carbono Neutral Certification process is a tremendous honor and pleasure. With the support from UN Tourism, along with support from public authorities and private sector institutions, we will have a unique project! In addition to Green Initiative’s work, we will mobilize talents to organize events, national and international photography exhibitions, concerts, documentaries… In short, a powerful network of communication and achievements worthy of this major project.” — Ricardo Amaral, Director of Rio Book “This collaboration reflects our commitment to positioning climate action as a central element of regenerative and sustainable tourism. At Green Initiative, we believe that iconic sites like Cristo Redentor have the power to inspire global change—not only through environmental leadership but by engaging communities, visitors, and partners in a collective journey toward a climate-positive future.” — Tatiana Otaviano, Relationship Manager at Green Initiative Importantly, through this process, Cristo Redentor will align its efforts with the Glasgow Declaration on Climate Action in Tourism. Launched at COP26 in 2021, the Glasgow Declaration has been endorsed by over 700 organizations worldwide and calls on tourism stakeholders to halve emissions by 2030 and achieve net zero by 2050. It outlines five pathways for action: Measure, Decarbonize, Regenerate, Collaborate, and Finance. By adhering to these principles through the certification process, Cristo Redentor will further strengthen its governance framework and serve as a model for UNESCO World Heritage Sites worldwide, illustrating how tourism, cultural heritage preservation, and climate action can be mutually reinforcing pillars for sustainable development. Grounded in international standards and Green Initiative’s approach, the overall goal of the project is to internalize climate mitigation action within the Sanctuary’s management practices. In doing so, the certification process will help reinforce ongoing social, cultural, and environmental initiatives led by the Sanctuary, while also identifying and making visible new opportunities for climate action, nature conservation, and community-based cultural programs. This integrated approach will contribute to amplifying the project’s impact and outreach, strengthening Cristo Redentor’s role as a catalyst for sustainable and inclusive development. The certification process will entail a full measurement and analysis of greenhouse gas emissions balance associated with site operations and activities. It will identify and reinforce existing mitigation efforts while exploring new opportunities for carbon capture and resource efficiency. It will culminate in the development of a Climate Action Plan covering the 2025–2030 period, designed to guide strategic investments, operational improvements, and long-term social, cultural and climate-related initiatives. A Strategic Step Toward COP30 The initiative comes at a crucial time, as Brazil prepares to host COP30 from November 10 to 21, 2025, in Belém do Pará — the first time a UN Climate Conference will be held in the Amazon region, a globally significant ecosystem for climate stability. Since the launch of the Glasgow Declaration, the tourism sector has been building a compelling case for its role in addressing the climate crisis. This momentum gained significant traction at COP29 in Baku, Azerbaijan, where tourism was celebrated through the inaugural Tourism and Climate Action Day, underscoring the sector’s growing recognition as a driver of climate solutions and nature-positive action. The climate certification of Cristo Redentor aligns with these global movements and serves as a strategic contribution to Brazil’s and the broader region’s efforts to demonstrate that tourism can be a powerful force for good. By positioning a UNESCO World Heritage Site as a leader in climate mitigation,

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Hotel Punta Sal: A Sustainable Commitment to Climate Mitigation and Carbon Footprint Reduction

Hotel Punta Sal: A Sustainable Commitment to Climate Mitigation and Carbon Footprint Reduction

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In a world increasingly aware of the climate crisis, corporate environmental responsibility has become a key factor for competitiveness and long-term sustainability. A clear example of this trend is Hotel Punta Sal (Tumbes, Peru), an establishment that has shown a strong commitment to sustainability and climate change mitigation. Measuring and Offsetting the Carbon Footprint In 2023, Hotel Punta Sal took a major step in its sustainability journey by measuring its carbon footprint and earning the Carbon Neutral certification from Green Initiative. Measuring its carbon footprint was crucial to understanding the environmental impact of the hotel’s operations, identifying the areas that generate the highest greenhouse gas emissions. After this assessment, the hotel took action to offset its carbon footprint, demonstrating its commitment to reducing environmental impact and fulfilling its social responsibility. Based on this initial assessment — the baseline — the hotel identified mitigation opportunities and made significant investments in actions to reduce its emissions. Climate Action Plans In 2024, in addition to measuring and offsetting its carbon footprint, Hotel Punta Sal has also implemented several climate mitigation measures to tangibly reduce its environmental impact. Key efforts include: These initiatives are part of a broader Climate Action Plan and are expected to positively influence the hotel’s carbon footprint assessment for the cycle. By implementing these measures, the hotel reduces its carbon footprint, enhances its competitiveness in a market increasingly demanding sustainability, and demonstrates its commitment to global climate goals such as the Paris Agreement. As a key player in the climate agenda for tourism, Green Initiative is committed to supporting companies like Hotel Punta Sal, which will join a select group of Latin American signatories of the Glasgow Declaration, accelerating progress toward decarbonizing the tourism sector. Benefits of Climate Action Hotel Punta Sal’s commitment to climate action also brings economic and strategic advantages: A More Sustainable Future Hotel Punta Sal is a prime example of how the tourism industry can play a crucial role in the fight against climate change. By measuring and offsetting its carbon footprint, implementing sustainable technologies, and adopting a Climate Action Plan with mitigation measures, the hotel not only protects the environment but also ensures its future viability and competitiveness. With its continued efforts to integrate climate action into its business model, Hotel Punta Sal positions itself as a leader in sustainability in Peru and globally, proving that climate action is essential not only for the planet but also for long-term business success and prosperity. This article was written by Tatiana Otaviano from the Green Initiative Team. Related reading

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WorldXchange Renews Its Climate Positive Commitment and Takes a Step Further with LATA Responsible Tourism Awards Application

WorldXchange Renews Its Climate Positive Commitment and Takes a Step Further with LATA Responsible Tourism Awards Application

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At Green Initiative, we proudly celebrate the ongoing climate leadership of our partner: WorldXchange. In 2025, WorldXchange not only renewed its Climate Positive Certification — maintaining its role as the first and only currency exchange company in the world with this distinction — but also took a bold step forward by submitting its application for the prestigious LATA Responsible Tourism Awards 2025 in the Nature-Positive Tourism category. This recognition is a testament to the company’s deep-rooted vision: tourism and finance can, and must, be forces for positive change. Elevating Tourism’s Second Face: From Currency Exchange to Environmental Stewardship WorldXchange operates in Peru’s major tourist corridors, with offices in Lima, Cusco, and Arequipa — cities that are gateways to some of the most biodiverse and culturally rich regions of Latin America. Although primarily a financial service provider, WorldXchange understood early on that its strategic position within airports — the “first and last impression” of many visitors — placed it at the heart of the tourism value chain. In partnership with Green Initiative, WorldXchange adopted a robust Measure-Reduce-Offset (MRV) strategy, achieving verified emissions reductions, supporting reforestation projects in the Amazon region of Madre de Dios, and engaging over 250,000 travelers annually in education efforts about climate, biodiversity, and regenerative tourism practices. Beyond internal transformation, WorldXchange’s leadership helped catalyze broader change: after its carbon-neutral and Climate Positive achievements, Lima Airport updated its concession contracts to require environmental accountability from all vendors — a ripple effect that now influences one of Latin America’s busiest airports. A New Milestone: LATA Responsible Tourism Awards Application This year, WorldXchange has taken another major step by submitting its candidacy for the LATA Responsible Tourism Awards under the Nature-Positive Tourism category. Their application highlights several key achievements: WorldXchange’s story perfectly exemplifies how companies traditionally outside the “green tourism” space can fully embrace regenerative practices — and even lead sectoral transformation. Looking Ahead: Sustaining and Expanding Climate Leadership As WorldXchange continues its journey, the company remains committed to deepening its climate and nature-positive impact. In 2025, it is finalizing its latest carbon footprint assessment and preparing new targets to further lower its emissions and environmental footprint per traveler served. At Green Initiative, we are proud to stand beside WorldXchange as it redefines the role of financial service providers in sustainable tourism. Their achievements are a clear reminder that climate-positive leadership can — and must — be integrated across every link of the tourism value chain. Congratulations to the entire WorldXchange team for their renewed certification, their bold steps forward, and their unwavering commitment to a more sustainable future! This article was written by Ella Baehringer from the Green Initiative team Related reading

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Bonito Carbono Neutro Wins Prestigious FIDI 2025 Environmental Sustainability Award

Bonito Carbono Neutro Wins Prestigious FIDI 2025 Environmental Sustainability Award

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A Historic Victory for Sustainable and Smart Tourism in Brazil and Mato Grosso do Sul Mato Grosso do Sul has once again demonstrated its leadership in sustainable and smart tourism by securing three major awards at the International Smart Destinations Fair (FIDI) 2025. These achievements highlight the state’s dedication to innovation, governance, and environmental responsibility, further solidifying its reputation as a global leader in sustainable tourism practices. The Awards That Define Excellence During FIDI 2025, Mato Grosso do Sul received recognition in three key categories: These accolades confirm that Mato Grosso do Sul is at the forefront of global smart tourism innovation, combining sustainability with technology to enhance visitor experiences while preserving its natural wonders. Bonito, a world-renowned ecotourism destination, has once again proven itself as a global leader in sustainable tourism by winning the Environmental Sustainability Award at the International Smart Destinations Fair (FIDI) 2025. This prestigious recognition reinforces Bonito’s commitment to environmental conservation, climate action, and sustainable tourism practices, setting an example for destinations worldwide. The Significance of the FIDI 2025 Award The International Smart Destinations Fair (FIDI) is one of the most important events in the global tourism industry, bringing together leaders, innovators, and policymakers to discuss the future of smart and sustainable destinations. The Environmental Sustainability Award is given to destinations that demonstrate outstanding achievements in implementing sustainable tourism practices, reducing carbon footprints, and integrating innovative environmental conservation strategies. Winning this award highlights Bonito’s Carbono Neutro Program, which has been instrumental in: Leadership Driving Bonito’s Success Governor Eduardo Riedel reaffirmed Mato Grosso do Sul’s commitment to economic development aligned with environmental preservation, stating: “Mato Grosso do Sul is on a path to achieving carbon neutrality by 2030, demonstrating that economic growth and sustainability can go hand in hand.” Josmail Rodrigues, Mayor of Bonito, also celebrated the achievement, emphasizing the city’s commitment to sustainable development: “Bonito’s recognition at FIDI 2025 reflects the dedication of our entire community in preserving our natural heritage while ensuring economic growth. We will continue working towards innovative solutions that make Bonito a model for sustainable tourism.” The success of Bonito’s sustainability initiatives is the result of strong leadership and collaboration. Bruno Wendling, President of Fundtur MS, emphasized the significance of this achievement: “This award is a testament to Bonito’s leadership in sustainability and climate action. We are proving that it is possible to develop tourism in a way that respects and preserves nature while providing economic benefits to local communities.” Similarly, Juliane Salvadori, Vice Mayor of Bonito and leader of the Bonito Carbono Neutro Program, highlighted the importance of this recognition: “Winning the Environmental Sustainability Award at FIDI 2025 is a proud moment for Bonito. It validates our dedication to creating a sustainable future for tourism, ensuring that future generations can continue to experience the natural beauty of our destination.” Adding to Bonito’s sustainability milestones, the Grupo Rio da Prata has played a crucial role in reinforcing climate action in the region. Their properties, including the Recanto Ecológico Rio da Prata, Lagoa Misteriosa, and Estância Mimosa, have achieved Climate Positive and Carbon Neutral certifications, setting new standards for conservation and responsible tourism. Their ongoing efforts in ecosystem restoration, carbon sequestration, and sustainable visitor experiences continue to position Bonito as a leader in global ecotourism. “The accomplishments of Grupo Rio da Prata showcase how tourism can actively contribute to environmental recovery. By achieving Climate Positive and Carbon Neutral certifications, they set an example of how destinations can balance growth with nature conservation.” – Bruno Wendling, President of Fundtur MS What This Means for the Future This award solidifies Bonito’s position as a benchmark in sustainable tourism not only in Brazil but also on a global scale. It serves as an inspiration for other destinations looking to implement effective climate action strategies while fostering economic growth through responsible tourism. As Bonito prepares to present its success story at COP-30 in Belém, Pará, in November 2025, this recognition will further strengthen its impact on international discussions around sustainable tourism and environmental conservation. A Bright Future for Bonito and Global Sustainable Tourism With its ongoing commitment to sustainability, Bonito is proving that environmental responsibility and tourism excellence can go hand in hand. The FIDI 2025 Environmental Sustainability Award is not just a victory for Bonito but for the entire global movement towards more responsible and climate-conscious tourism. Matheus Mendes, Portfolio Manager at Green Initiative, also emphasized the collaborative and systemic nature of Bonito’s decarbonization efforts: “Bonito’s certification was designed to be advanced collectively. The initial responsibility for the process lies with the municipal government and the state, but the resulting actions have shared responsibilities and broad benefits for society. The next stages of the destination’s decarbonization should prioritize four key pillars: clean mobility, waste treatment, ecosystem restoration, and tourist engagement.” Congratulations to Bonito Carbono Neutro and all those who have contributed to making this achievement possible! 🌿🌍✨ In the Media:

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