How Trafigura leverages BeZero’s ratings to engage with its customers

As carbon markets mature, buyers, financiers, and governments are increasingly seeking to assess project integrity, risk, and underlying quality. This has led to more sophisticated and bespoke diligence processes, often driven by internal mandates and evolving procurement standards. While this reflects a positive shift toward ensuring “A-rated” quality outcomes, it has also introduced significant inefficiencies in how projects are assessed and brought to market.

For a diversified portfolio such as Trafigura’s nature based removals portfolio - spanning over 600,000 hectares of diversified nature-based removal project types, this challenge is particularly acute. The heterogeneity of projects means that counterparties frequently require detailed, project-by-project due diligence, especially for pre-issuance credits. These processes are often time-consuming, costly, and duplicative, creating friction in transactions and slowing capital deployment.

At the same time, many of these projects are structured to deliver shared value back to local communities, governments, and operational partners. This adds further complexity to the assessment process, requiring stakeholders to evaluate not only carbon outcomes, but also social and ecological integrity. In the absence of a standardised benchmark, the market has relied heavily on fragmented, resource-intensive diligence approaches that can constrain scalability and limit liquidity.

This pre-issuance validation provides confidence to counterparties and supports early engagement with buyers.

Across Trafigura’s carbon portfolio, ratings enhance comparability and enable more efficient capital allocation. By clearly differentiating quality, they improve pricing transparency, support liquidity, and help scale the market.

For Brújula Verde and other projects in the Trafigura portfolio, ratings are enhancing market liquidity and shortening the sales cycle, allowing more targeted interaction with suitable buyers, whilst providing third-party justification for pricing through independent validation of project quality and benchmarks.