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BVRio and TIMBERWeb: New deal to promote legality in the timber markets



The BVRio Institute is an organization with a mission to promote the use of market mechanisms to facilitate compliance with environmental laws and support the green economy in Brazil.

The creation of the BVRio is part of a strategy to contribute to the development of an ecosystem of actors involved in activities related to environmental economics. In this sense, the BVRio performs systematically intense work of promotion and dissemination of concepts and market instruments.BVRio promotes the use of these mechanisms and participates in the regulation of their laws process.

BVRio due diligence and risk assessment system conducts a risk analysis of wood products along its supply chain, from point of production to final buyer. All information and documentation are stored in the system, using block chain technology, and can be made available for independent auditing. In the near future, this system will be integrated with BVRio's Timber Exchange, a negotiations platform for legal or certified timber with an inbuilt due diligence and risk management system.

Keith Richmond, CEO of TIMBERWeb said "We are delighted to be working with BVRio as due diligence on timber from Brazil is now essential to support legality of timber imports into the EU".

About BVRio
BVRio Responsible Timber Exchange is an initiative of the BVRio Institute and BVRio Environmental Exchange. BVRio Institute is an organization with the objective to develop market mechanisms to facilitate compliance with environmental laws. BVRio Environmental Exchange, was created to operate the markets developed by iBVRio through a multi-sector negotiations platform for environmental commodities developed specifically to serve the needs of developing countries.  iBVRio is a Climate Action Leader of the R20 Regions for Climate Action initiative, received the Katerva Awards 2013 for Economy, and is a member of the Forest Legality Alliance (Copyright: TIMBERWeb, Imprensa, iBVRio - 11/2016)