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SESC and SENAC Bahia consolidate climate leadership with historic expansion of Carbon Neutral Certification

SESC & SENAC Bahia: Historic Expansion of Carbon Neutral Certification

SUSTAINABILITY | CLIMATE ACTION | PROFESSIONAL EDUCATION In January 2026, five units of SESC and SENAC Bahia received or renewed their Carbon Neutral certifications by GI International, consolidating the most comprehensive decarbonization project in the service and professional education sector in Brazil. When, in 2022, the Senac Bahia Casa do Comércio Restaurant-School became the first Carbon Neutral certified restaurant in Brazil, the achievement sounded like a promise: that sustainability and operational excellence could go hand in hand. Three years later, that promise was not only fulfilled but multiplied. In January 2026, five units of the Sistema Comércio Bahia came together in a certification ceremony that marked a new chapter in the history of climate action in the country’s service sector. The ceremony brought together two distinct but complementary processes. On one hand, the Carbon Neutral recertification of the Senac Bahia Casa do Comércio and Pelourinho Restaurant-Schools and the Grande Hotel Sesc Itaparica. On the other, the debut of two new spaces in this journey: the Sesc Casa do Comércio Theaters and the Sesc-Senac Pelourinho Theater, which achieved their first Carbon Neutral certification, expanding the scope of the project to the cultural and events sector. The result is an unprecedented institutional climate action portfolio in Brazil: five certified units, covering gastronomy, hospitality, and culture, all operating in Salvador and the Baía de Todos os Santos, all committed to concrete decarbonization pathways through 2030. The progress of the Restaurant-Schools: growing without compromising the climate The Senac Bahia Casa do Comércio Restaurant-School completed in 2025 its third greenhouse gas inventory, referring to the year 2024, and the numbers tell a story of decoupling between growth and environmental impact, something rare and valuable in the gastronomic sector. In 2024, the restaurant served 94,515 people, an increase of 23.2% compared to 2023. In contrast, absolute emissions increased only 10.9%, rising from 1,089.32 to 1,212.94 tons of CO2eq. What is most impressive, however, is the emissions intensity indicator per person served: 12.78 kgCO2eq per client, a reduction of 9.96% compared to 2023 and an expressive 26.7% compared to the base year of 2021. This accumulated reduction of 26.7% in just three years is no coincidence. It results from strategic, consistent, and measurable decisions. The most impactful of these was the reformulation of the menu: emissions associated with beef and lamb per person served fell 26.13%, as a result of conscious substitution with lower environmental impact proteins, such as seafood, poultry, and pork. The purchase of 100% renewable energy through the free market completely eliminated emissions from electricity consumption (Category 2), an achievement that remains a pillar of the decarbonization strategy. The 90.44% reduction in paper consumption per person served also deserves attention, resulting from an operational transformation that goes beyond symbolism. The most revealing result lies in the trajectory relative to the 2030 target. The restaurant had projected reaching 14.54 kgCO2eq per person as an intermediate benchmark in 2024. By achieving 12.78, it was approximately one to two years ahead of the planned schedule. This means that the target of a 50% reduction by 2030, starting from 17.44 kgCO2eq/person in the base year, is not only on the horizon but appears achievable ahead of schedule. The Senac Bahia Pelourinho Restaurant-School, in turn, completed in 2024 its first year post-baseline, in an inaugural monitoring cycle. With a total footprint of 1,283.22 tCO2eq and an intensity indicator of 12.18 kgCO2eq per person served (calculated over 105,345 clients), Pelourinho establishes its starting line clearly. The first decarbonization cycles often present adjustment challenges, and Pelourinho was no exception: a 14.91% increase in absolute emissions alongside a 6.64% increase in audience signals the path still to be traveled. Even so, positive results are already emerging: solid waste decomposition fell 33.08% per person served, and employee commuting decreased 12.13%. The 50% reduction target by 2030, based on the 11.30 kgCO2eq/person indicator in 2023, is ambitious and achievable, especially with the implementation of the structured actions in the Climate Action Plan that will be put into practice starting in 2025. Grande Hotel Sesc Itaparica: 41.48% reduction in emissions intensity Among all the decarbonization stories celebrated in January 2026, that of the Grande Hotel Sesc Itaparica may be the most eloquent in numerical terms. In its second Carbon Neutral certification cycle, the hotel presented results that challenge the conventional logic that growth and emissions reduction are conflicting objectives. In 2024, the hotel recorded a 13.84% increase in the number of overnight stays, rising from 38,447 to 43,767. Simultaneously, absolute emissions fell 33.38%, from 1,966.34 to 1,309.90 tCO2eq. The intensity indicator per overnight stay dropped from 51.14 to 29.93 kgCO2eq, a reduction of 41.48% in a single cycle. This result demonstrates real gains in carbon management efficiency and does not stem from a single isolated action, but from a set of operational transformations. The transition to 100% renewable energy, with I-REC certification, completely eliminated emissions from electricity consumption, which in 2023 represented 38.61 tCO2eq. The production of raw materials and inputs, the main source of emissions in any hospitality operation, decreased 32.87% in absolute values and 41.03% in intensity. Employee commuting decreased 32.97% in absolute terms. Improved data collection on refrigerant gases, adopting a methodology based on primary replenishment data instead of estimates based on average rates, also contributed to more accurate and representative measurement of operational reality. The Grande Hotel Sesc Itaparica concretely illustrates that sustainable tourism is not a niche or an aspiration: it is a viable business strategy that delivers economic and environmental value simultaneously. Located on the island of Itaparica, in the Baía de Todos os Santos, the hotel also carries the symbolic weight of protecting one of the richest marine ecosystems in the southern hemisphere. Expansion into culture: the Sesc Theaters reach certification The major new development in January 2026 was the incorporation of two theaters into Sesc Bahia’s Carbon Neutral portfolio. The Sesc Casa do Comércio Theater and the Sesc-Senac Pelourinho Theater conducted their first greenhouse gas inventories, referring to the year 2024, and immediately achieved Carbon Neutral

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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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How Sustainability Is Driving Consumer Behavior in 2025 — and What It Means for Your Business

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In 2025, sustainability is no longer optional — it’s a driving force behind consumer, investor, and employee decisions. From travel to logistics, businesses are being reshaped by growing demands for transparency, responsibility, and measurable environmental action. According to IBM’s latest global sustainability study, 51% of consumers say environmental sustainability is more important today than it was a year ago. The shift is clear — and it’s opening major opportunities for businesses that lead with climate and nature positive strategies. Key Sustainability Trends Shaping Consumer Behavior 1. Consumers Are Paying More for Sustainable Products Nearly half of surveyed consumers reported paying an average of 59% more for eco-conscious products. Brands that align with these values are not only earning loyalty but also capturing new markets. 2. Green Investments Are Growing 62% of personal investors now consider sustainability in their decisions — up from 48% just one year earlier. Climate certifications and ESG reporting are now essential for attracting capital. 3. Sustainability Attracts Top Talent 67% of job seekers are more likely to apply for a job with an environmentally responsible company. Sustainable practices are a competitive advantage in today’s hiring landscape. 4. Consumers Want to Act — But Need Help While 77% want to make sustainable choices, barriers like access and affordability remain. Businesses that empower consumers to live more sustainably will stand out. What Leading Companies Are Doing — And How You Can Too ✅ Make Sustainability Visible and Verifiable Certifications are a powerful trust signal for today’s conscious consumers. For example, Delfin Group, a logistics provider, earned Climate Neutral Certification through Green Initiative by optimizing its emissions and adopting cleaner energy solutions across operations. In the travel sector, Kuoda Travel achieved Climate Positive Certification, reaffirming its leadership in sustainable tourism by accurately measuring emissions, offsetting carbon, and supporting reforestation efforts across South America. Meanwhile, in the beverage industry, AJE Group’s Bio Amayu became the world’s first Climate Positive fruit juice, created with sustainably sourced Amazonian ingredients and produced through carbon-balanced practices. In Brazil, institutions like SESC and SENAC are advancing sustainable development in education and culture through Climate Certification. Grupo Rio da Prata, a leader in ecotourism, has achieved Climate Positive Certification by investing in nature conservation, biodiversity, and responsible tourism. From Europe, organizations such as CEPA and AlphaMundi Group are leading the way in sustainable investment and education, aligning their strategies with measurable climate action and long-term environmental impact. These are just a few of the companies and institutions in our portfolio that are leading their sectors by aligning business goals with climate goals — and reaping the rewards of trust, loyalty, and long-term impact. Get certified here → ✅ Promote Nature Positive Actions Go beyond carbon neutrality. Support biodiversity, reforestation, and regenerative practices with measurable impact — like ForestFriends.eco, Green Initiative’s ecosystem restoration project. Through Forest Friends, businesses and individuals can restore native forests and protect endangered species in regions affected by climate change. Learn about Forest Friends → Lead the Change, Build a Better Future Sustainability isn’t a trend. It’s the foundation of a new business model — one that prioritizes regeneration, equity, and long-term value. At Green Initiative, we help organizations turn climate ambition into real-world action.Join the movement. Get certified. Restore ecosystems. Lead the transition to a truly climate and nature positive future. 👉 Explore climate and nature positive certifications👉 Support ecosystem restoration with Forest Friends

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What Are Green Bonds and Why Are Prices So Low?

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In recent years, green bonds have become a powerful financial instrument, playing a key role in addressing the global challenge of climate change and funding sustainability projects. These bonds support environmentally beneficial initiatives such as renewable energy, biodiversity conservation, and sustainable infrastructure, offering both financial returns and a tangible positive impact on the environment. Despite the promise they hold, green bond prices have been lower than expected due to several market factors. However, the future of green bonds is incredibly bright, with a growing alignment between investor demand and sustainability objectives. Understanding Green Bonds Green bonds operate like traditional bonds but serve a higher purpose—financing projects dedicated to environmental sustainability. Governments, corporations, and institutions issue these bonds to fund projects such as renewable energy development, energy efficiency improvements, and biodiversity conservation initiatives. Green bonds provide an innovative solution to global environmental issues, allowing investors to support the transition to a low-carbon economy while securing returns. Moreover, the market for green bonds is expanding rapidly. With governments and corporations pledging to meet net-zero emissions targets, the demand for green financing climate and nature positive instruments is expected to continue accelerating. Green bonds are thus well-positioned to become a mainstream financial tool for a sustainable future. Why Are Green Bond Prices So Low? Several factors explain why green bond prices have been lower recently: Increasing Supply of Green Bonds As the issuance of green bonds has surged globally, supply now outpaces demand in certain markets. However, this increase in supply is a positive sign that sustainability-focused financing is becoming mainstream. As more investors adopt ESG (Environmental, Social, and Governance) strategies, demand for green bonds is expected to catch up, potentially driving prices higher in the future. Rising Interest Rates Like all fixed-income instruments, green bonds are affected by interest rates. In a rising rate environment, newly issued bonds offer higher yields, making older green bonds less attractive. However, this is a temporary challenge. As central banks stabilize interest rates, green bonds—especially those tied to long-term climate and nature positive environmental projects—will regain their appeal. Perceived Risk of Green Projects While some green bonds finance projects in emerging sectors or developing regions, where risks may be perceived as higher, this is also an opportunity. Investors who understand the long-term potential of green technologies and climate and nature positive sustainability initiatives recognize that these bonds support transformative projects that can generate both environmental and economic returns. Greenium and Market Maturity The concept of greenium, or the premium investors have historically paid for green bonds, is evolving. As the green bond market matures and expands, greenium has diminished, making these bonds more accessible. This signals a healthy market transition, where green bonds no longer command higher prices but instead offer competitive returns, aligning with the expectations of mainstream investors. Greenium and ESG Investment Strategies Green bonds are increasingly attractive to investors seeking to align their portfolios with ESG goals. The diminishing greenium, while lowering bond premiums, actually enhances the accessibility of green bonds, offering competitive returns without sacrificing sustainability. As the market for green finance grows, companies with high ESG commitments, particularly climate and nature positive, are likely to attract more capital, driving even more innovation and positive environmental impact. For investors with a long-term view, green bonds provide a unique opportunity to support projects with positive externalities while maintaining attractive returns. This alignment of financial and environmental performance makes green bonds a compelling part of any sustainable investment strategy. A Quote on Brazil’s Green Bond Market Green bonds have emerged as an essential tool for financing sustainable projects, significantly contributing to the transition to a low-carbon economy. In Brazil, the green bond market is still in its growth phase but already shows enormous potential. Since the first issuance in 2015, the country has accumulated around USD 11.2 billion in issuances. The growth of this market in Brazil is driven by the increasing demand for sustainable investments, both from institutional investors and individuals concerned about the environmental impact of their investments. Additionally, the greenium, which is the price premium that investors are willing to pay for green bonds, is directly related to the supply and, more importantly, the demand for these bonds. This phenomenon is reinforced by the commitments made by large asset managers and financial institutions to direct resources towards projects that promote sustainability. With the growing awareness of climate change and the need for concrete actions, the green bond market in Brazil has significant room for growth. The expectation is that, with favorable public policies and the continuous engagement of the private sector, we will see a substantial increase in green bond issuances in the coming years, contributing to a more sustainable and resilient future. Quotes Marcos Lima, ESG Finance and Investment Banking – Lecturer at FEBRABAN and Coordinator of Sustainable & Climate Finance at BV Bank. A Bright Future for Green Bonds Looking ahead, the future of green bonds is incredibly promising. Several factors will fuel their growth: Increasing Regulatory Support Governments are implementing policies to promote sustainable finance, including green bonds. The European Union’s Green Bond Standard is setting the stage for stronger frameworks that ensure the transparency and integrity of green bonds. These regulations will encourage more issuers to enter the market and provide investors with confidence in the impact of their investments. Climate Commitments and Global Demand With global climate commitments like the Paris Agreement pushing governments and corporations to reduce carbon emissions, the demand for green finance will only grow. Green bonds are at the forefront of financing this transition, offering an efficient way to raise capital for large-scale environmental projects. Investor Appetite for Sustainable Assets As more investors integrate sustainability into their strategies, green bonds will continue to be a key part of the solution. The narrowing greenium makes these bonds more attractive to a broad range of investors, enabling green bonds to move from a niche product to a mainstream asset class. This growing demand, coupled with an increase in green bond issuance, is expected

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