About Brazil Green Finance Programme

As an opportunity identified through bilateral cooperation between the Brazilian and British governments, the Brazil Green Finance Programme seeks to encourage sustainable investments in infrastructure to support Brazil’s economic development. Programme activities will not only contribute to Brazil’s transition to a more inclusive and low carbon economy but also support and develop initiatives to reduce gender inequalities.

EY was selected by the UK Government to lead the consortium of organisations to deliver the objectives of the programme. EY is supported by The Carbon Trust, SITAWI and IMC Worldwide, as well as a number of local, international, public and private sector organisations. Find out more about each company below:

UN Sustainable Development Goals

The Sustainable Development Goals (SDGs) were signed in 2015 by the United Nations, succeeding and updating the Millennium Development Goals (MDGs). As part of the 2030 agenda, the SDGs comprise the strategy of 17 objectives and 169 goals by 2030. The SDGs call for global action in areas such as: health, education, reducing inequality, climate action and sustainable infrastructure.

Four years since its adoption, the 2019 report points to progress in some areas, but warns "that the global reaction has not been ambitious enough, leaving the most vulnerable people and countries suffering the most". Therefore, it is urgent that the work to achieve these goals continues.

The Brazil Green Finance Programme supports the implementation of the Sustainable Development Goals (SDGs) and during its implementation will contribute to the delivery of the seven objectives highlighted below:

The Programme will be carried out through the activities detailed below and divided into two workstreams:

Low Carbon Financial Instruments in Brazilian Banks

Gender and Social Inclusion – Badesul, Itaú, C6 and Cielo: Identify financial institutions to carry out collaborative work so that they become a reference in the Brazilian financial market in the Gender and Inclusion agenda. This will be possible through the assessment of the G&I context, definition of an action plan, capacity building, monitoring and technical support.

Solar PV Financial Model: Support the Government of the State of Minas Gerais, municipalities in Minas Gerais and BDMG in the development of a replicable financial model for photovoltaic solar energy projects in public schools.

Sustainable Recovery Taxonomy: Promote a methodology for Development Financial Institutions (IFDs) and Commercial Banks to integrate social and environmental criteria into stimulus measures for economic recovery in light of the COVID-19 crisis.

Sustainable Finance Dissemination: Conduct training sessions for key groups of institutions to disseminate information about the sustainable market.

Financial Instruments: Development/improvement of more attractive financial instruments with a focus on sustainable projects for partner institutions.

Strategic Roadmap and Climate Action Plan Towards Net Zero – BNDES

Gender and Social Inclusion: Support BNDES in developing the gender equality and social inclusion agenda so that it can act as a reference and inspire other financial institutions, demonstrating the advantages of adhering to the agenda.

ESG Management: Collaborate to advance the integration of good ESG practices into the organizational and governance structures within BNDES.

ESG Manuals for Infrastructure Projects: Prepare a manual with the objective to provide guidelines for the incorporation of ESG criteria, based on international standards, during the project design process.

Sustainable Finance Framework: Develop a framework for credit operations linked to ESG performance targets, multi-sector, containing cross-cutting indicators and targets and sectorial cuts (defined with BNDES), to support in the development of products and/or programs that may fall into this category.

Blended Finance: Leverage BNDES' catalytic role on investments in infrastructure and sustainable productive activities through recommendations for the development of new opportunities for the use of its non-reimbursable resources to scale up private investments for projects through Blended Finance modalities.

BNDES portfolio assessment in relation to 2-degree world: Analyse the BNDES investment portfolio to identify the main asset classes, relevance, sectoral GHG contributions and exposure to climate risk.

Climate Risk Assessment: Incorporate climate-focused international evaluation tools and metrics in the risk screening of BNDES projects.

Sustainable Journey: Support BNDES in the development of a diagnosis of the bank's actions and commitments in Sustainability/Climate and support for the definition of "statement" to be launched at COP26, as well as the respective implementation roadmap.

Dissemination of Good Practices and Lessons Learned with other Development Banks.