Brazilian Federal Government, BNDES and partners launch platform with development and climate objectives
The Federal Government of Brazil, through the Ministries of Finance, Environment and Climate Change, Mines and Energy and Development, Industry, Trade and Services, together with the National Bank for Economic and Social Development (BNDES), Bloomberg Philanthropies, the Glasgow Finance Alliance for Net Zero (GFANZ) and the Green Climate Fund (GCF) announced the launch of the “Green and Climate Transformation Investment Platform” (BIP), an initiative to advance Brazil’s ambitious climate and development goals.
The BIP Platform will work with existing public funds and programs, such as “Restore Amazon”, as well as partner initiatives, including the “Brazilian Nature Investment Lab”. BIP will also seek partnerships with multilateral development banks (MDBs) and environmental and climate funds to finance emerging technologies and develop innovative financial schemes.
BIP will initially focus on three sectors: i) Nature-based solutions and bioeconomy; (ii) Industry and Mobility, catalyzing decarbonization efforts in sectors such as steel, aluminium and cement, electric urban mobility and green fertilizers; (iii) Energy, supporting efforts to enable off-grid solar, smart grids, offshore wind energy industries, sustainable fuels, agricultural bio-inputs, low-carbon hydrogen, energy efficiency and critical minerals.