Petrobras and the Brazilian Development Bank (BNDES) opened a public call for proposals under the ProFloresta+ program to buy 5 million high-integrity carbon credits tied to Amazon restoration. The move seeks to boost forest restoration in the Amazon. It will also set a clear price benchmark for restoration credits and aims to create jobs and attract finance in the restoration sector.

What Petrobras and BNDES Want from Developers

The public notice covers five contracts of 1 million carbon credits each. Each contract must be backed by ecological restoration on at least 3,000 hectares. Contracts will last for 25 years. They will focus on areas within the Amazon biome. This includes both private land and public land with forest concessions.

Key facts in brief:

• Five contracts × 1 million credits.
  
• Minimum 3,000 hectares per contract, restored and verified.
  
• 25-year crediting and monitoring horizon.
  

The tender comes at a time when Brazil’s voluntary carbon market is growing. According to market surveys, Brazil issued about 14–16 million voluntary credits per year from 2021 to 2023. ARR (Afforestation, Reforestation, and Revegetation) credits accounted for about 10–15% of these total issuances.

The ProFloresta+ purchase of 5 million credits is a large amount. It’s much larger than the current supply of restoration credits.

Financing the Forest: How ProFloresta+ Unlocks Capital

Petrobras will buy the carbon credits through public tenders. Winning project developers may then get low-interest loans or financing from BNDES to cover upfront costs.

The Brazilian bank created tools to reduce financial risk for restoration companies and landowners. This pairing of long-term offtake and concessional finance is meant to make restoration projects bankable.

Over the past decade, carbon markets have shown that early funding is a barrier for landowners who want to begin restoration. BNDES’ model tries to fix this by offering credit lines with longer repayment periods and by supporting milestone-based contracts. Payments for credits are expected to follow a schedule tied to planting, survival rates, and verified carbon removals.

ProFloresta+ enters a market where ARR credits from the Amazon have sold for US$8 to US$18 per tonne. Prices vary based on quality, verification standards, and project risks. Petrobras hasn’t revealed its expected clearing price yet. However, the public tender sets a reference point for buyers and sellers to see.

The chart shows an indicative low, a broad nature-based market average, and an observed Brazil ARR average (USD per tCO₂e).

• RELATED: ARR Carbon Credits: The Next Gold Rush Backed by Google and Microsoft

The Road to 50,000 Hectares

ProFloresta+ is framed as a multi-phase program. The initial phase targets about 15,000 hectares and 5 million credits, backed by roughly R$450 million (about US$77 million).

Over a longer horizon, the program states it can restore up to 50,000 hectares and sequester an estimated 15 million tonnes of CO₂. Organizers also expect thousands of local jobs in planting, maintenance, and monitoring.

Average CO₂ absorption rates help explain the numbers. Research on the Amazon biome shows that restoring native forests can remove 8 to 15 tonnes of CO₂ per hectare each year in early growth.

As the forests mature, they store even more CO₂ over the long term. Assisted natural regeneration can achieve similar rates in degraded lands that still have seed banks. These benchmarks support the program’s estimate of long-term removals.

Amazon deforestation trends also show why the program is urgent. INPE satellite data recorded nearly 13,000 km² of deforestation in 2021, which fell to around 9,000 km² in 2023 after new enforcement measures.

Scientists estimate that over 54.2 million hectares of the Amazon have been lost in 20 years and need active or assisted restoration. The ProFloresta+ restoration area is small compared with this total, but it can test large-scale finance models.

Officials estimate the pilot will create about 4,500 jobs. It will also set clear rules and prices for restoration credits. Past restoration programs in Brazil and Latin America usually create 2–4 jobs per hectare during planting.

For long-term monitoring and maintenance, they generate 1–2 jobs per hectare. These figures help explain how large-scale planting can support rural employment.

Why This Tender Could Redefine Brazil’s Carbon Landscape

The program marks one of the largest public tenders for restoration credits in Brazil. It links a major corporate buyer (Petrobras) with a development bank to deliver scaled restoration. This structure can do three things:

• It provides price clarity.
• It reduces financing gaps for projects.
• It builds market confidence for high-integrity, nature-based credits.

Brazil is now a leading supplier of forest-related credits worldwide. REDD+, ARR, and agroforestry methods back this growth. But ARR supply has grown more slowly because restoration is expensive and long-term.

The chart shows indicative ARR credit price trends from 2019–2024, starting with broader market averages due to limited early ARR data. Reliable ARR-specific prices were not published in 2019–2020, so the series begins in 2021 with broader voluntary carbon market averages.

Prices rise from about US$4/t in 2021 to over US$7/t in 2022, dip slightly in 2023, then jump sharply in 2024 as demand for high-integrity nature-based removals strengthens.

A project involving 3,000 hectares usually needs several million dollars in early investment. Public tenders like ProFloresta+ help bridge this gap.

Public tenders of this size are rare. Indonesia’s peatland and mangrove restoration programs have offered fewer large-volume restoration credit offtake tenders. In contrast, Congo Basin countries have emphasized REDD+ over ARR.

As such, ProFloresta+ is unique. It combines public procurement with development bank financing. It also includes long-term monitoring requirements.

Trust but Verify: How Brazil Will Track Every Tonne

The call requires robust verification and long monitoring periods. Projects must follow recognized restoration practices and provide measurable carbon removals.

BNDES and Petrobras require documentation, monitoring, and a 25-year contract to ensure credits are real, additional, and permanent.

Most Brazilian projects use international standards like Verra VCS or Gold Standard, alongside the national carbon registry, field audits, and remote sensing. Developers must follow restoration protocols, including native species, minimum density, and survival monitoring.

To ensure permanence, 10–20% of credits are often placed in a buffer pool, with some using insurance against fire, drought, or pests. Developers must submit baseline studies, restoration plans, and social-environmental safeguards, and undergo audits and reporting to qualify for credits and BNDES financing. Public tender results will be transparent.

Weighing ProFloresta+’s Impact

Proponents list several benefits of the program:

• It channels immediate demand and revenue to restoration projects.
• It uses public procurement to set market standards and prices.
• It couples purchases with concessional finance to lower project risks.

The program also aims to support social safeguards. Restoration in the Amazon often requires consent from local communities, Indigenous groups, and landholders. Many programs now include benefit-sharing rules, training, and local hiring. Monitoring includes checks on land use rights and social co-benefits.

But limits remain. Restoration takes time; carbon removals accrue over decades. Projects must manage risks such as fires, pests, land-use conflicts, and changing climate conditions.

Credit buyers and financiers need confidence that credits remain valid over long periods. Observers say the program will only prove effective if verification and long-term protection are strong.

A High-Stakes Test for Restoration at Scale

The public call opens the clock for proposals. Petrobras and BNDES will evaluate bids and award contracts. If the pilot goes as planned, the program can expand to more hectares and credits. This might also inspire other companies to start similar tenders. Many energy, aviation, and consumer goods companies in Brazil want to buy carbon credits. This shows that the market is growing.

The tender could strengthen Brazil’s restoration market by proving that public, transparent purchasing and concessional finance can bring large projects to scale. Success will depend on strong verification, durable finance, and effective on-the-ground management across the program’s long timeframe.

• READ MORE: Amazon’s $20B Carbon Credit Boom? Brazil’s REDD+ Faces Integrity and Demand Test

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Disseminated on behalf of Sierra Madre Gold & Silver Ltd.

Sierra Madre Gold & Silver is building a strong position in Mexico’s growing precious metals industry. The company is creating long-term value through smart growth, low costs, and balanced exposure to both gold and silver. With gold prices at record highs, Sierra Madre is turning opportunity into steady progress.

Its main operation, the La Guitarra Mine Complex, reached commercial production in January 2025 after being acquired from First Majestic Silver. Alongside this, the company holds the Tepic Project, expanding Mexico’s gold and silver frontier. By combining efficient mining with new exploration, Sierra Madre is proving that gold’s value still shines bright in today’s market.

Gold’s Strength in a Changing World

Gold remains a trusted safe-haven asset in uncertain times. Central banks are buying more gold, and geopolitical tensions are pushing demand higher. JP Morgan expects gold prices to average $3,675–$4,000 per ounce by mid-2026. State Street Global Advisors sees gold holding above $3,000/oz, showing that strong prices are here to stay.

The Demand and Supply Side

As per the World Gold Council, in Q2 2025, total gold demand reached 1,249 tonnes, up 3% year-over-year. Its value surged 45% to a record US$132 billion, driven by strong investment demand. Gold-backed ETFs, bars, and coins saw the biggest gains amid geopolitical tensions and trade uncertainty. Central banks added 166 tonnes to reserves, though at a slower pace than in previous quarters.

On the supply side, total gold output also rose 3% to 1,249 tonnes, with mine production hitting a Q2 record of 909 tonnes.

This environment supports Sierra Madre’s growth strategy. The company is using these high prices and Mexico’s low operating costs to boost production and deliver stronger returns to shareholders.

Driving Gold Growth at La Guitarra

The La Guitarra Mine Complex is Sierra Madre’s key asset. Located in Mexico’s historic Temascaltepec district, it currently produces 500 tonnes per day. The company plans to double that to 1,200 t/d to 1,500 t/d by late 2027.

In April 2025, Sierra Madre started underground mining at the high-grade Coloso vein within the La Guitarra property. This new zone should increase gold output and improve overall grades. At the same time, the company is upgrading its milling systems to raise recovery rates and lower costs.

Tepic Project: Expanding Mexico’s Gold and Silver Frontier

The Tepic Project adds exciting exploration upside. It sits in Mexico’s Sierra Madre Geologic Province and hosts low-sulfidation epithermal gold and silver mineralization. Multiple zones stretch over one kilometer long and 200 meters wide.

Once the flagship project of Cream Minerals, Tepic has a historic resource estimate outlined in a 2020 Technical Report. Past drilling covered 31,537 meters across 149 holes. However, with a 76% core recovery rate, grades may have been underestimated.

Recent exploration shows the Dos Hornos breccia veins remain open both along strike and at depth. This finding suggests strong potential for expanding resources in future drilling phases.

  Core Drilling Highlights

Location and Infrastructure Benefits

Tepic is just 22 km from Tepic City, the capital of Nayarit, and 120 km from Puerto Vallarta Airport. The project has excellent access to roads, power, and local services. A skilled mining workforce and nearby fabrication shops make operations easier and more cost-efficient.

The project covers 2,612.5 hectares across five mining concessions and is 100% owned by Sierra Madre. Being in a mining-friendly region of Mexico gives the company a stable environment to advance this asset.

Strong Gold Production and Steady Revenue

Sierra Madre’s production results show steady progress and solid performance:

• Q2 2025 gold sales: 1,096 ounces.
• H1 2025 gold sales: 2,118 ounces; production totaled 2,049 ounces.
• Average realized price: $3,271/oz in Q2 and $3,058/oz for H1.
• Gold recovery: around 78% during the first half of 2025.

Gold revenues reached $3.59 million in Q2 2025, up from $2.89 million in Q1. For the first half of 2025, gold generated $6.48 million in total revenue. Cash costs per silver-equivalent ounce sold were $23.32, showing strong cost control.

As the Coloso mine continues to deliver higher-grade mineralization, Sierra Madre expects better margins and lower costs in the coming quarters.

Financing Growth and Exploration Plans

In mid-2025, Sierra Madre raised C$19.5 million (US$19.5 million) through a private placement. The funds are being used to:

• Expand throughput at La Guitarra.
• Launch a +20,000-meter exploration program across 59 km of structures mapped to date.
• Target new high-grade zones in the East District.

This financing strengthens the company’s ability to expand production and extend mine life while continuing to explore new areas.

Moving on, Sierra Madre has also begun underground development at the Nazareno silver-gold mine in the La Guitarra complex, Estado de Mexico. The team has delivered over 700 tonnes of mineralized material, not included in the current resource estimate, to the Guitarra mill. Workers are blasting existing workings and advancing the sill drive to test long-hole mining feasibility in the closely spaced veins.

Reconciliation with the 2023 Nazareno resource model shows silver grades 40% higher and gold grades 30% higher than estimated, signaling strong potential to expand the resource.

Taking Advantage of Record Metal Prices

Gold is trading above $4,000 per ounce, giving Sierra Madre a strong tailwind. Its mix of gold and silver exposure provides a natural balance – gold supports financial stability, while silver adds growth potential.

Analysts also believe that Silver is expected to face a structural deficit for the seventh straight year, due to rising demand from the clean energy and technology sectors. This gives Sierra Madre’s dual-metal strategy even more value in the current market.

Two Metals, One Strong Strategy

Sierra Madre’s dual focus sets it apart. Gold anchors the company’s stability as a safe-haven asset, while silver brings growth potential through its industrial uses — from solar panels to electric vehicles.

With a combination of efficient operations, strong assets, and focused execution, Sierra Madre is redefining what a modern Mexican mining company looks like one that blends stability with growth potential.

• FURTHER READING: Silver’s New Role in the Clean Energy Era – and What It Means for Sierra Madre Investors

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Certain statements contained in this news release may constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking information generally can be identified by words such as “anticipate,” “expect,” “estimate,” “forecast,” “plan,” and similar expressions suggesting future outcomes or events. Forward-looking information is based on current expectations of management; however, it is subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those anticipated.

These factors include, without limitation, statements relating to the Company’s exploration and development plans, the potential of its mineral projects, financing activities, regulatory approvals, market conditions, and future objectives. Forward-looking information involves numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking information. These risks and uncertainties include, among other things, market volatility, the state of financial markets for the Company’s securities, fluctuations in commodity prices, operational challenges, and changes in business plans.

Forward-looking information is based on several key expectations and assumptions, including, without limitation, that the Company will continue with its stated business objectives and will be able to raise additional capital as required. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, or intended.

There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially. Accordingly, readers should not place undue reliance on forward-looking information. Additional information about risks and uncertainties is contained in the Company’s management’s discussion and analysis and annual information form for the year ended December 31, 2024, copies of which are available on SEDAR+ at www.sedarplus.ca.

The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management’s current beliefs and is based on information currently available to the Company. The forward-looking information is made as of the date of this news release, and the Company assumes no obligation to update or revise such information to reflect new events or circumstances except as may be required by applicable law.

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Nvidia reported strong results for the third quarter of its fiscal year ending October 26, 2025. The company posted $57 billion in revenue, which increased 22% from the previous quarter and 62% from the same period last year. The numbers show that demand for Nvidia’s chips and systems remains high, especially in artificial intelligence and data center markets.

Q3 Performance: High Revenue and Steady Profit Margins

The Data Center segment led the quarter again with $51.2 billion in revenue. This segment grew 25% from the previous quarter and 66% from a year earlier. Growth comes from ongoing orders by cloud companies, enterprise clients, and research institutions. They use Nvidia’s platforms to train and run AI models.

Profitability also stayed strong. Nvidia reported a 73.4% GAAP gross margin, up slightly from the previous quarter. Its non-GAAP gross margin was 73.6%. These margins show the company continues to benefit from strong pricing power and high demand for advanced AI hardware.

Net income reached $31.9 billion, rising 21% from the previous quarter and 65% from the year before. Diluted earnings per share (EPS) came in at $1.30 on both a GAAP and non-GAAP basis. Operating income also remained high at $36 billion, showing that Nvidia is managing its expenses while growing its revenue.

Cash generation continued to strengthen. Free cash flow was about $22.1 billion, which increased by 32% from last year. Nvidia also returned $37 billion to shareholders in the first nine months of fiscal 2026 through buybacks and dividends. The company still has more than $62 billion available under its current buyback authorization.

Overall, the financial results show that Nvidia is still growing at a fast pace, even as its growth rate begins to stabilize. The results also provide a strong base as the company expands into new areas, such as infrastructure and energy-efficient computing.

After the earnings release, Nvidia’s stock rose about 3% in after-hours trading. This came after stronger-than-expected revenue and earnings. 

• SEE MORE: How NVIDIA, Microsoft, Musk’s xAI, and BlackRock Are Driving the Next Wave of AI: $60 Billion in Mega Deals Explained

Q4 Forecast and Short-Term Trends

Nvidia expects another strong quarter ahead. For Q4 fiscal 2026, the company forecasts revenue of around $65 billion, plus or minus 2%. It also expects gross margins to improve slightly, reaching about 75% on a non-GAAP basis. Operating expenses are set to rise as the company invests in research and in new product development cycles.

The outlook suggests that Nvidia believes demand will remain strong in the near term. At the same time, the company faces new challenges. Growth is still high, but it is no longer rising at the extreme levels of earlier years.

Nvidia will focus more on expanding its infrastructure. They aim to boost efficiency and manage long-term costs. These trends set the stage for the company’s latest major initiative.

A Major Strategic Turn: The $100 Billion AI Deal with Brookfield

Nvidia just announced a big partnership with Brookfield Asset Management, a leading asset management company. They plan to create an AI infrastructure program worth up to $100 billion. This move marks a shift in Nvidia’s strategy.

The chipmaker will shift from just selling chips and systems. Now, it will help build a complete infrastructure for AI growth. The program will include investments in land, power, data centers, and advanced computing systems.

Jensen Huang, founder and CEO of Nvidia, stated:

“AI is transforming every industry, and like electricity, it will require every nation to build the infrastructure to power it. AI infrastructure demands land, power, and purpose-built supercomputers—and our partnership with Brookfield brings all of these elements together in a ready-to-deploy AI cloud.”

Brookfield brings experience in infrastructure, real estate, and energy. Nvidia brings the technology and the hardware that run modern AI models. Together, they aim to support global demand for AI computing, which continues to rise sharply.

This partnership shows that Nvidia is expanding beyond its traditional role as a chip designer. The company wants to be part of designing and building the physical foundations that AI depends on. This includes everything from cooling systems to energy supply.

The move could help Nvidia secure long-term revenue streams and reduce the bottlenecks that come from limited infrastructure capacity.

• RELEVANT: NVIDIA Stock Surges on $100B OpenAI and $5B Intel Deals: Driving Sustainable AI Computing

Powering AI Responsibly: Energy Use and Emissions

As Nvidia steps deeper into infrastructure, the environmental impact of AI computing becomes more important. Data centers and high-performance computing systems use large amounts of electricity. They also demand advanced cooling systems and steady grid capacity.

The company has acknowledged these challenges and increased its sustainability efforts across its operations, supply chain, and product designs.

A key part of Nvidia’s environmental strategy is its use of clean electricity. The company reports that it achieved 100% renewable electricity for its offices and data centers under its operational control. This shift reduces its Scope 1 and 2 emissions and lowers the carbon footprint of its own operations.

• The GPU king has set science-based targets to reduce emissions. They want to limit global warming to 1.5°C. The goal is to cut Scope 1 and Scope 2 emissions by 50% by FY 2030, using FY 2023 as the baseline.

For its products, Nvidia aims to cut emissions intensity during customer use by 75% per petaflop of computing power by 2030. This target matters because most of Nvidia’s emissions come from how its products are used, not how they are manufactured.

A big part of Nvidia’s total emissions comes from its suppliers, also known as Scope 3 emissions. They occur during the production of components.

Nvidia is also engaging its supply chain. The company reports that it has engaged suppliers responsible for more than 80% of its upstream emissions. It encourages these suppliers to set their own science-based targets.

The Blackwell GPU and Beyond

Energy efficiency is another focus area. Nvidia’s newer systems deliver much better performance for every unit of power used. Some platforms show 50% to 99% lower energy use per unit of compute compared to older systems.

The Blackwell GPU platform is very energy-efficient. It’s built to manage large AI workloads and cut down on power use.

Despite these efforts, Nvidia still faces challenges. Its total emissions rose in recent years because demand for its products grew so quickly. Scope 3 emissions make up the biggest part of its footprint. Reducing them will require long-term efforts with suppliers and customers.

As Nvidia grows its infrastructure role, it must also create facilities that use clean electricity. Efficient cooling systems will help keep its environmental impact aligned with its goals.

Balancing Growth, Infrastructure, and Sustainability

Nvidia’s Q3 results show a company that remains strong financially and continues to grow at a fast pace. The new partnership with Brookfield shows that Nvidia is preparing for the next phase of AI growth by investing in global infrastructure.

At the same time, the company is working to reduce emissions, improve energy efficiency, and manage its environmental impact as its influence expands. The coming years will test how well Nvidia balances these goals.

Strong finances give the company momentum. Large-scale projects bring long timelines. Sustainability efforts will become more important as AI’s energy use grows worldwide. Nvidia’s long-term progress will depend on how effectively it brings the strategies together.

• READ MORE: Meta’s $600 Billion AI Bet: Building the Next Generation of Data Centers

The post Nvidia’s (NVDA) Stock Rose on Q3 Strong Results: $57B Revenue, $100B AI Infrastructure Plan appeared first on Carbon Credits.