Shares of Diginex Inc (NASDAQ:DGNX) climbed 31.9% in premarket trading on Friday after the ESG-focused technology company announced a framework agreement with the Brazilian state of Mato Grosso aimed at advancing large-scale sustainability projects.
Under the agreement, Diginex will form a joint venture alongside BGlobal and the government of Mato Grosso to build a digital infrastructure platform designed to support decarbonization reporting, harmonize sustainability data, and roll out a “Digital Green Passport” system. The initial rollout will concentrate on the beef industry, with scope to extend the platform to additional sectors over time.
Mato Grosso represents a sizable opportunity for Diginex, as it is one of Brazil’s most important agricultural regions. The state spans more than 900,000 square kilometers, with roughly 60% of its land area preserved, and plays a key role in global food production and climate-related outcomes.
The framework agreement is intended to enhance existing sustainability initiatives, including the state’s “Passaporte Verde” program, by providing digital tools to improve disclosure, traceability and reporting across agricultural supply chains.
Brazil’s decarbonization market was valued at around $43.1 billion in 2024 and is expected to grow to $76.8 billion by 2030, implying a compound annual growth rate of 10.1%. Over the same period, Brazil’s sustainability management software market is forecast to expand from $141.4 million to $341.4 million.
“The Framework Agreement reflects our ambition to support real-world sustainability at scale. Mato Grosso is a globally significant region for agriculture, natural capital, and climate, and we see a strong opportunity for robust data and ESG infrastructure to play a constructive role,” said Miles Pelham, Chairman of Diginex.