Tuesday, 10 September 2024.
Last week we were at the event “Brazil at COP 29: from Climate Adaptation to Sustainability Financing” organized by Amcham Brasil, in São Paulo.
Three very timely panels - Priorities for COP29, Climate Finance in Brazil, From Baku to Belém - as well as a “chat” with the governor of Rio Grande do Sul and two very interesting presentations, described below.
(1) Brazil Initiative for the Environment, presented by the CEO of Amcham Brasil Abrao M. Arabe Neto, giving greater visibility to the results of the current 282 environmental preservation projects developed by companies in Brazil, including:
- 10.1 million hectares preserved or restored (area equivalent to South Korea)
- 21,310.8 GWh of clean energy generated or optimized (more than the consumption of the entire Brazilian chemical industry in 2023)
- 29.4 million different types of waste treated: plastic, paper, organic material, metal, glass, contaminants
- 265 million tons of reduced CO2e emissions
(2) Launch of the Sustainable Financing in Brazil study. Some findings:
- While almost 64% of large companies use this type of financing, medium, small, micro and startups do not exceed 29%
- The sector that uses it most is industry, with 45%, followed by commerce and then services
- 86% of companies project an increase in the search for sustainable financing in the next two years
The low level of knowledge about sustainable financing lines in Brazil seemed to be a point of attention:
FINEP Inova Sustentabilidade (20%)
BNDES Finem Meio Ambiente (20%)
Banks in general (14%)
International and multilateral bodies (13%)
Regional development banks (12%)
RenovAgro - Agricultura de Baixo Carbono (7%)
Plano Safra / Pronaf (6%)
Furthermore, the knowledge indicated above is concentrated in large companies.
A few days ago we published about FIESP / SENAI / SEBRAI SP's efforts to support small and medium-sized companies.
Ella De Blois, Regional Director for Latin America at the U.S. International Development Finance Corporation (DFC) also commented on the recent opening of DFC's first office in Latin America, including a new $470 million credit line to help small Brazilian businesses, besides a series of concrete initiatives.
The AMCHAM event also featured a chat with the governor of the state of Rio Grande do Sul - Climate and Local Reality - about all the state's recovery efforts towards climate resilience after the historic floods of 2024.
Click on the image below to access the complete Sustainable Financing in Brazil study portal (in Portuguese), with much more information, upon a brief registration.
