The World Bank Implementation Status & Results Report Caixa Solid Waste Management and Carbon Finance Project (P124663) Caixa Solid Waste Management and Carbon Finance Project (P124663) LATIN AMERICA AND CARIBBEAN | Brazil | Urban, Resilience and Land Global Practice | Recipient Executed Activities | Investment Project Financing | FY 2012 | Seq No: 9 | ARCHIVED on 21-Dec-2022 | ISR53826 | Implementing Agencies: Caixa Economica Federal, Caixa Economica Federal Key Dates Key Project Dates Bank Approval Date: 05-Dec-2011 Effectiveness Date: 05-Dec-2011 Planned Mid Term Review Date: -- Actual Mid-Term Review Date: Original Closing Date: 30-Jun-2022 Revised Closing Date: 31-May-2023 pdoTable Project Development Objectives Project Development Objective (from Project Appraisal Document) Project will support the creation of a Program within the Caixa Economica Federal do Brazil, through which Caixa will be able to identify, prepare and partially finance emission reduction activities under solid waste management projects and sell the resulting emissions reductions credits. Has the Project Development Objective been changed since Board Approval of the Project Objective? No Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Moderately Satisfactory Moderately Satisfactory Overall Implementation Progress (IP) Moderately Satisfactory Moderately Satisfactory Overall Risk Rating Moderate Moderate Implementation Status and Key Decisions Request for issuance for São Gonçalo for 2020 vintages was submitted on October 17, 2022. Request for issuance for Petrolina for 2020 vintages was submitted on November 4, 2022. Due to the higher ERs than the ex-ante estimate in both São Gonçalo and Petrolina landfills, verifications took longer than expected. Both São Gonçalo and Petrolina have their respective generators installed and are able to generate or are already generating electricity. For São Gonçalo the connection to the grid is pending additional requirements from the distributing compony (ENEL). 12/21/2022 Page 1 of 5 The World Bank Implementation Status & Results Report Caixa Solid Waste Management and Carbon Finance Project (P124663) Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance -- Low Low Macroeconomic -- Moderate Moderate Sector Strategies and Policies -- Moderate Moderate Technical Design of Project or Program -- Moderate Moderate Institutional Capacity for Implementation and -- Substantial Substantial Sustainability Fiduciary -- Moderate Moderate Environment and Social -- Moderate Moderate Stakeholders -- Low Low Other -- Moderate -- Overall -- Moderate Moderate Results PDO Indicators by Objectives / Outcomes Creation of a Program within the Caixa Economica Federal do Brasil IN01215114 ►Program of Activities (PoA) registered by the UNFCCC (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No Yes Yes Yes Date 05-Dec-2011 13-Jun-2022 13-Jun-2022 30-Jun-2022 Target was achieved on October 5, 2012. Comments: Tradable emission reduction credits generated by solid waste management projects IN01215113 ►Emission reductions generated by the Caixa Programme of Activities (PoA) (TF-11236) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 2,500,000.00 2,500,000.00 2,500,000.00 Date 05-Dec-2011 13-Jun-2022 13-Jun-2022 30-Jun-2022 Target was achieved on April 26, 2019 Comments: 12/21/2022 Page 2 of 5 The World Bank Implementation Status & Results Report Caixa Solid Waste Management and Carbon Finance Project (P124663) IN01215115 ►Emission reductions generated by the Itaoca and Candeias Landfill (TF-11237) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 546,581.00 546,581.00 500,000.00 Date 05-Dec-2011 13-Jun-2022 13-Jun-2022 30-Jun-2022 Target was achieved on April 18, 2017. Comments: IN01215171 ►Emission reductions generated by São Gonçalo Landfill (TF-0B0774) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 603,447.00 637,002.00 817,180.00 Date 01-Jun-2020 13-Jun-2022 05-Dec-2022 31-May-2023 ERs are to be verified and certified by the UNFCCC. Comments: IN01215172 ►Emission reductions generated by Caruaru and Petrolina Landfills (TF-0B0773) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 14,667.00 9,707.00 45,000.00 Date 01-Jan-2020 13-Jun-2022 05-Dec-2022 31-May-2023 Total ERs generated at Petrolina in the reporting period are 14,667 as reported in the last ISR. This is much higher than the ex-ante estimation. Unless Petrolina submits a post-registration change to the CPA design, they cannot claim all ERs for certification by the UNFCCC. The actual report for December 5 is the Comments: amount justified to be submitted for certification under the current methodology. The figure will be revised at project closing in the event that a post-registration change to the sub-project design is submitted and approved by the DOE. Intermediate Results Indicators by Components Caixa Programme of Activities (PoA) IN01215173 ►Number of Component Project Activities (CPAs) registered by the UNFCCC (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 3.00 3.00 4.00 Date 05-Dec-2011 13-Jun-2022 05-Dec-2022 31-May-2023 At the time of project restrucring, two additional CPAs were expected to be registered (Caruaru and Petrolina). However, due to the delays, only the Petrolina landfill has been registered, reaching a total of Comments: 3. 12/21/2022 Page 3 of 5 The World Bank Implementation Status & Results Report Caixa Solid Waste Management and Carbon Finance Project (P124663) Performance-Based Conditions Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P124663 TF-11236 Closed USD 21.47 21.05 0.43 21.33 0.00 101% P124663 TF-11237 Closed USD 4.29 3.81 0.49 3.86 0.00 101% P124663 TF-B0773 Effective USD 0.18 0.18 0.00 0.00 0.18 0%% P124663 TF-B0774 Effective USD 1.91 1.91 0.00 0.00 1.91 0%% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P124663 TF-11236 Closed 05-Dec-2011 05-Dec-2011 05-Dec-2011 31-Dec-2019 31-Dec-2019 P124663 TF-11237 Closed 05-Dec-2011 05-Dec-2011 05-Dec-2011 31-Dec-2019 25-Jul-2017 P124663 TF-B0773 Effective 08-Dec-2019 01-Aug-2020 01-Aug-2020 30-Jun-2022 31-May-2023 P124663 TF-B0774 Effective 08-Dec-2019 06-Feb-2020 02-Jun-2022 30-Jun-2022 31-May-2023 Cumulative Disbursements 12/21/2022 Page 4 of 5 The World Bank Implementation Status & Results Report Caixa Solid Waste Management and Carbon Finance Project (P124663) Restructuring History Level 2 Approved on 27-Jun-2022 Related Project(s) There are no related projects. 12/21/2022 Page 5 of 5