What does C6 Captured do?

C6 Captured signs agreements with governments and private landowners and holds the exclusive right to commercialise the jurisdictional forest carbon credits their territories generate, acting as technical partner on programme development. It holds the right to commercialise the credits a programme generates; it does not own the land or the carbon, which in these jurisdictions is frequently held communally. It is not a consultant. Jurisdictional programmes are the core of the business, and individual project areas are taken on selectively where they meet the same standard, usually by being accounted for inside a jurisdictional programme.

How is this different from conventional REDD+ carbon projects?

The credits that damaged the sector's reputation were ones where the seller chose the land and estimated the deforestation it prevented, setting the number of credits it was then paid on. C6 works at jurisdictional scale, where the unit is a whole country or state and the baseline comes from government forest data, and the credits are certified for legal compliance use rather than sold voluntarily.

Who buys these credits?

Buyers with a legal obligation: international airlines meeting CORSIA requirements, governments acquiring internationally transferred mitigation outcomes under Article 6, and companies settling national carbon tax liabilities with eligible international credits.

What is the difference between an emission reduction and a removal?

A reduction is carbon kept out of the atmosphere by preventing forest loss that would otherwise have happened. A removal is carbon actively taken back out of the atmosphere as forest regrows. Both are generated inside C6's programmes and both are eligible under ART TREES.

Where does C6 Captured work?

Across the Americas, in Mexico, Brazil and Paraguay. Programmes are identified publicly by code rather than by jurisdiction because the market is competitive. Some run to ART TREES and others under Verra's VCS Jurisdictional and Nested REDD+ framework. Jurisdiction-level detail is shared under NDA.

C6 Captured — Jurisdictional forest carbon for compliance markets

Mission

An emerging global leader in developing high-integrity, high-impact, nature-based carbon credits that help protect large tracts of forest, unique biodiversity and ecosystems, all of global importance, with direct benefits to the social, economic and environmental well-being of communities dependent on a variety of biomes in the Americas.

What do we do?

We hold the rights to sell the credits. We are not a consultant.

Governments and landowners own the programme. We hold the exclusive right to bring its credits to market, do the technical work to get them certified, and sell them.

Jurisdictional programmes are the core of the business: that is where the scale and the compliance eligibility sit. We also take on individual project areas, selectively, where they meet the same standard.

01

Sign the rights

We agree terms directly with governments and with private landowners, and secure exclusive rights to commercialise the credits their land generates — and, where the agreement provides for it, to own and sell them outright.

02

Get it certified and authorised

We lead programme development, support the independent verification it must pass, and help the host country issue the formal authorisation that makes a credit count in a compliance market. One authorisation opens both CORSIA and Article 6.

03

Sell to obligated buyers

We structure long-term offtake agreements, work with global environmental commodity traders, and negotiate directly with airlines, sovereign buyers and companies facing carbon taxes at home — advised throughout on pricing and timing rather than trading on our own account.

One exclusive agreement can cover an entire country. That is what makes the model scalable in a way a plot-by-plot business never is.

Whose carbon this is

Much of this forest is held communally, and across parts of the portfolio a majority sits with communal landholders, many of them Indigenous. We do not own the land or the carbon. We hold the right to sell the credits.

Both standards require safeguards reporting on how communities take part and how benefits are shared. Those arrangements are set by the programme and its government, not by us.

The current market issues

If you already distrust forest carbon, you are reading it right.

That scepticism is well earned. But it applies to one particular way of doing this, which we deliberately do not use. That distinction is why the company is built the way it is.

What earned the bad reputation

The seller estimates how much deforestation it is preventing, on land it selected itself.
That estimate sets the number of credits — and the seller is paid on its own number.
Auditors check the method, not the assumption underneath it.
Credits go to buyers purchasing voluntarily, who can walk away the moment the press turns.

How our credits are produced

The baseline comes from the government's own national forest data, across a whole country or state.
No private party sets the number it gets paid on.
Certified to a standard regulators have accepted for legal compliance use.
Sold to buyers meeting an obligation in law or treaty, who cannot simply stop buying.

What the loss of confidence did to supply

Forest credits issued each year on the Verra registry, in millions of tonnes. Down almost ninety per cent from the 2021 peak. Buyers stepped back, prices fell, new projects stopped. The pipeline has not refilled.

149.9

2021

73.1

2022

56.0

2023

22.9

2024

19.8

2025

Forestry and land-use credits issued by year. Source: Verra registry, figures taken directly from the registry. 2026 excluded as the year is incomplete.

The opportunity

Two compliance markets. One bottleneck. Supply well short of demand.

Both need the same thing before a credit counts: the host government has to authorise it and adjust its national accounts. And for CORSIA's first phase, forest credits had to sit inside a jurisdictional programme — standalone project REDD+ was excluded. Governments are moving, but reaching a signature takes standing and years in the country.

146–236m

Credits airlines need for the current CORSIA phase

The airline industry's own trade body projects demand of roughly 146 to 236 million units for the first compliance period.

Source: IATA projection, reported Feb 2026

One

Article 6 transfers fully completed, to date

Over ninety bilateral agreements have been signed — Japan, Switzerland, Singapore and South Korea have all built the machinery to buy. As of April 2025, one transfer had completed end to end. The demand side is built; almost nothing has moved through it.

Source: Columbia University Center on Global Energy Policy, Apr 2025

Singapore is already contracting nature-based Article 6 credits — and one of the four projects it bought is in Paraguay.

Its carbon tax is S$45 a tonne, heading for S$50–80 by 2030, and companies may settle up to five per cent of the bill with Article 6 credits. In September 2025 it contracted 2.175 million tonnes from four projects in Ghana, Peru and Paraguay for about S$76 million — roughly S$35 a tonne. A buyer with a budget, a price path, and a preference for this asset.

Sources: Singapore National Climate Change Secretariat and Ministry of Trade and Industry, Sep 2025; NCCS carbon tax and International Carbon Credit framework

C6 Captured as the solution

The winners will not be whoever controls the most trees.

They will be whoever a government will sign an exclusive agreement with, and who can then turn it into a sale. Two different skill sets; few organisations hold both. C6 pairs decades of senior relationships inside Latin American governments with ClearBlue Markets on pricing, buyers and market position.

Strategic partnership

Two hard problems. We solve one, ClearBlue solves the other.

ClearBlue Markets is our partner on everything between a signed agreement and a sale.

C6 Captured holds

The agreements with national and state governments
Exclusive rights to commercialise the credits those programmes generate
In-country entities, and the relationships behind them
Decades of senior operating history across Brazil, Paraguay and Mexico

ClearBlue Markets brings

Project design documents, methodology work and support through independent verification
Support on the host-country authorisation that makes a credit count
Pricing and market intelligence across both compliance and voluntary markets
Vantage, their AI-enabled platform for price forecasting and managing position
Offtake structuring, and negotiation with traders, airlines and sovereign buyers

Since 2000Active in carbon markets, through the CDM, the EU ETS and today's voluntary market

450+Offset projects developed, across more than 20 countries

66Methodologies authored

$3bn+Carbon products traded, including over $1bn in allowances and offsets

World map of ClearBlue Markets nature-based project experience, spanning the Americas, Africa and Asia

Where ClearBlue has worked on nature-based projects — afforestation and reforestation, improved forest management, blue carbon, REDD+ and agricultural land management — as project developer and as adviser on investment due diligence and pre-feasibility.

Environmental Finance Environmental Market Rankings Winner 2017–2026, and Voluntary Carbon Market Rankings Winner 2022–2025

ClearBlue has been voted a winner in the Environmental Finance market rankings every year since 2017, and in the voluntary carbon rankings since 2022 — a poll of market participants rather than a self-nominated prize.

C6 brings the government agreements, the commercialisation rights and the presence on the ground. ClearBlue brings the development expertise and the market. Few forest carbon programmes have both halves covered by people who have done it before.

The division matters in practice. A jurisdictional programme can be technically sound and still fail to sell, because compliance buyers purchase against a deadline and a rulebook rather than a story. ClearBlue sits on the buy side of that market every day, which is what turns a registered programme into a contracted one — and it means C6 is not dependent on hiring a market capability it does not yet have.

Volumes and crediting

What the programmes produce, and when crediting can start.

1–2 Mt

Expected annual production across the portfolio, tCO₂e

An indicative range rather than a forecast. It reflects the areas under agreement today; each programme extends beyond that footprint, so volumes rise as more of it is brought in, subject to financing and the pace of registration. Net of the deductions ART TREES applies before issuance.

Up to 4 years

Of performance creditable retroactively

Under ART TREES an initial crediting period may begin up to four calendar years before the concept note is submitted, so verified performance already achieved can be credited. Guyana’s first issuance covered 2016–2020.

Source: ART TREES standard, section 2.3

Programme scale is not comparable per hectare. A state-wide programme is credited across a whole territory, much of it under low deforestation pressure. A project area is chosen because pressure there is high.

Before issuance, ART TREES deducts for leakage, statistical uncertainty and a reversal buffer — roughly sixty per cent in total. Any volume worth discussing is the net of those deductions, not the gross modelled reduction.

Source: ART TREES standard

tCO₂e = tonnes of carbon dioxide equivalent. Volume estimate supplied by C6 Captured, preliminary and unverified.

Milestones

What has actually happened, and when.

A dated record rather than a commentary blog. Each entry corresponds to a step completing on one of the programmes above.

Mmm 2026 M007

C6 takes M007 forward to registration

Carrying the programme from its published TREES Concept through registration and independent verification, targeted for 2027.

September 2022 M007

TREES Concept for M007 published on the ART Registry

ART approved the concept for a state-wide jurisdictional REDD+ programme, designed with The Nature Conservancy. Approval is the first step toward registration.

Mmm 2026 BR0167

Nesting framework raised with a state government

How BR0167 is accounted for inside the state’s own jurisdictional programme.

Mmm 2025 Company

Partnership with ClearBlue Markets established

Adds pricing, offtake structuring and buyer relationships to programme development.

Mmm 2025 PG

C6 Paraguay S.A. incorporated

Mmm 2024 Company

Silvio Teixeira appointed Chief Executive

Who is doing this

The people, and where they learned it.

This is a business of government access and market access. What matters is who can get a minister to sign and who can then find the buyer — in-country, in language, over years.

Silvio Teixeira

CEO & Co-founding Director

Thirty-five years across Brazilian banking and agriculture, including nineteen years as a Cargill director and a decade as managing partner and chief executive of Brookfield Brasil's timber platform.

Brookfield BrasilCargillRabobankCambridge Judge

Stephen Shefsky

Co-founding Director

Thirty years building resource companies, twenty-seven of them in Brazil, across oil and gas, minerals and technology. Chief executive of James Bay Resources and of the private merchant bank Cancap Investments.

James Bay ResourcesCancap Investments27 yrs in Brazil

Ricardo Batistela

Chief Financial Officer

Thirty-six years at Cargill in Brazil, from accounting trainee to accounting and finance leader for its agricultural supply chain platform. Sat on the leadership team of the grain and oilseeds business, which for a time covered the Paraguay and Bolivia operations.

Cargill Agrícola36 yrsFEA-USPExecutive MBA

Juan Carlos López Moreira

President, C6 Paraguay S.A.

Board and executive roles across major Paraguayan business groups since 1999, following leadership positions at Coca-Cola Paraguay, and senior government service from 2013 to 2018.

Coca-Cola ParaguayParaguay RefrescosGovernment, 2013–18

Miguelángel Báez Pirovano

Director of Operations, C6 Paraguay S.A.

Commercial operations leadership across Paraguay, Uruguay and Bolivia since 1994 in fuels, LPG, retail and B2B markets, built at DHL, Shell and Petrobras. MBA in business administration.

ShellPetrobrasDHLMBA

Michael Berends

CEO, ClearBlue Markets

Co-founder of ClearBlue Markets, with a decades-long career in carbon and energy markets across North America and Europe, in trading, origination, procurement and sales at Barclays Capital, Vattenfall Energy Trading and ICL. Leads the C6 relationship directly.

Barclays CapitalVattenfallICL

ClearBlue partner team

Michael’s colleagues at ClearBlue Markets, working directly on the C6 programmes.

Marcela Vera Escobar

Project Manager

Fifteen years in climate policy, forestry and nature-based solutions. Set the deforestation baseline in Honduras for the Rainforest Alliance.

Rainforest AllianceConservation International

Denitza González Quiñonez

Business Development Manager

Carbon markets and green taxonomies across Latin America. Formerly chief operating officer of MEXICO2 at the Mexican Stock Exchange.

MEXICO2CONAFOR

Wilson Cabanzo Rojas

Offset NBS Analyst

Forestry engineering and GIS. Built the spatial analysis and deforestation modelling for Colombia’s National REDD+ Strategy.

UPRAUNODC

Partners

Technology and measurement partners.

IBM

Two IBM systems. The Environmental Intelligence Suite fuses satellite imagery, lidar and ground survey into high-resolution biomass maps, and flags fire, flooding and forest clearing as they happen. IBM Blockchain keeps an unalterable record of the data behind every issuance.

Canopy

Satellite monitoring and forest measurement across programme territories. A Brazilian firm founded in 2016, now monitoring more than eleven million hectares in four countries, with deforestation alerts that are visually validated and hold up under cloud cover.

Ludovino Lopes

Legal counsel on carbon markets. A São Paulo firm working on the legal structuring of REDD+ programmes and environmental assets, with experience advising subnational governments and multilateral institutions on carbon credit frameworks.

Contact

Get in touch.

We are selective about who we talk to and what we share, and detail on jurisdictions, counterparties and volumes is available under NDA.

Which jurisdictions each programme covers
The agreements, and what exclusivity covers
Expected volumes and timing to first issuance
Offtake strategy and buyer pipeline
Programme documents and the safeguards approach

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We reply to every request within two business days. Materials covering government agreements or counterparties are shared under NDA.

Airlines and governments are now legally required to buy carbon credits. Eligible supply is a fraction of what they need.