BRAZIL PARTNERS WITH CLIMATE COALITION TO DRIVE SUSTAINABLE GROWTH

Brazil announced a partnership with the Glasgow Financial Alliance for Net Zero (GFANZ) to enhance financing in clean energy and nature restoration, including reforesting the Amazon rainforest. The National Bank for Economic and Social Development (BNDES) will lead efforts to mobilize public and private financing. While no specific investment commitments were disclosed, BNDES President Aloizio Mercadante stressed the government’s urgency. The move aligns with President Luiz Inácio Lula da Silva’s ambition to play a central role in global climate efforts, including hosting the G20 and COP30. GFANZ co-chair Mark Carney likened the initiative to the Just Energy Transition Partnership’s (JETP) efforts in Vietnam, Indonesia, and South Africa, aiming for broader economic impact beyond energy and addressing stranded assets.
Source: Nova Cana