[1] BVRio was created in 2011[2][3] by social entrepreneurs Pedro Moura Costa and Mauricio Moura Costa in partnership with the Rio de Janeiro State Government and the Municipality of Rio de Janeiro.
More recently, it has established collaboration agreements with the Brazilian Amazonian states of Pará, Amazonas, and Acre.
After consultation with these stakeholders, it became clear that BVRio should aim at operating at both the rural and urban environments, as well as at the industrial sector: At the end of its first year, BVRio launched a trading platform to support the market of Forest Reserve Credits for compliance with the Brazilian Forest Law.
With relation to the reverse logistics system, the FRC Market already counts with the participation of more than 7,000 waste collectors, represented through 150 cooperatives distributed throughout the country.
The sale of Reverse Logistics credits greatly increased the income of these waste collectors (estimated at ca.