Evaluating only GreenPlace’s profile at its peak — without knowing the outcome — the model ranked Regulation as the #1 likely cause. Documented cause: Contagion.
Key Events Timeline
FOUNDING
GreenPlace founded in São Paulo to connect Brazilian forest preservation projects with corporate carbon credit buyers.
FUNDING
Raised R$45M; onboarded 11 corporate partners including major Brazilian banks and consumer goods companies.
FRAUD EXPOSURE
Brazilian Senate inquiry exposed falsified deforestation baselines in multiple Amazon REDD+ projects listed on platform.
SHUTDOWN
CVM regulatory investigation launched; all corporate partners suspended; GreenPlace dissolved and returned remaining investor capital.
Full Analysis
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Documented cause
GreenPlace raised R$45M to build Brazil's first voluntary carbon credit marketplace, connecting Amazon preservation projects with corporate buyers. The platform was severely disrupted when a 2022 Brazilian Senate inquiry revealed that several major Amazonian REDD+ projects selling credits through the platform had falsified deforestation baseline data. The scandal triggered a regulator inquiry by Brazil's CVM and caused all 11 corporate partners to suspend purchases. The company dissolved in Q4 2023.
Lesson
“Regional carbon marketplaces need rigorous third-party MRV before onboarding local projects to avoid concentrated fraud risk.”