The Brazil Green Finance Initiative (BGFI), launched in 2017, held a new meeting by the end of August 2023 in order to gather investors and discuss the developments on sustainable finance in the country and share their views on the market demands and priorities.

Participants included representatives from Climate Bonds Initiative (CBI), Zurich-Santander Seguros e Previdencia S.A, Siemens Participações, Zurich Insurance Company Ltd, Itaú Asset Management, Natixis CIB and Sail Ventures, among others.

Latest CBI’s report on “Latin America and the Caribbean (LAC) Sustainable Debt State of the Market 2022” had recorded that green, social, sustainability, sustainability-linked, and transition (GSS+) debt originating from LAC region totalized 40.8 billion dollars during year 2022, with Brazil accounting for 18% of that amount and being the third largest sustainable debt market in LAC region behind Mexico and Chile.