National or foreign investors now have a platform at their disposal to choose investments in environmental and social projects they want to finance. The Ministers of Finance, Fernando Haddad, and Minister of Environment and Climate Change, Marina Silva, launched this Wednesday (23), in Washington, the Investment Platform in Climate and Ecological Transformation, which was named BIP.
The tool will list projects validated by the National Bank for Economic and Social Development (BNDES), which will receive a green seal. This certification, informed BNDES and the Ministry of Finance, ensures that the projects are aligned with the Ecological Transformation Plan.
“The platform is the culmination of a year and a half of initiatives by the Ministry of Finance that allowed for a new horizon for Brazil’s climate agenda. This is the conclusion of a process of structuring regulatory and financial frameworks for green financing and which will begin a new wave of investments”, declared Haddad.
According to Marina Silva, the selected projects will not only follow the Ecological Transformation Plan, which aims to neutralize greenhouse gas emissions by 2050, but also the Climate Plan, with strategies to combat climate change by 2035. “The platform is one of the results of the Task Force for global mobilization against climate change, an innovation brought by the Brazilian presidency of the G20”, said the minister.
Haddad commented that the main merit of the tool is to bring together investors, public and private financiers and global financial institutions. “The platform combines financing and projects. We are making a match [combinação] between these two ends, with resources, including external ones, to transform the green economy”, declared the minister.
Social and environmental entrepreneurs interested in including a sustainable development project on the platform should contact [email protected]. BNDES will analyze the project and may include it in the BIP.
Created after a year and a half of development, the platform is a joint initiative of the Ministries of Finance, Environment and Climate Change, Mines and Energy and Development, Industry, Commerce and Services and BNDES. The tool was developed with support from Bloomberg Philanthropies; the Glasgow Financial Alliance for Net Zero (Gfanz), a British entity with financial institutions from 50 countries committed to the energy transition; and the Green Climate Fund (GCF).
G20 and IMF
The climate financing instrument was launched at a parallel event to the 4th meeting of Finance Ministers and Central Bank Presidents of the G20, a group of the 19 largest economies on the planet, plus the European Union and the African Union. In addition to the G20 meeting, Haddad and the president of the Central Bank, Roberto Campos Neto, are participating this week in the autumn meeting (in the northern hemisphere) of the International Monetary Fund (IMF) and the World Bank.
This afternoon, Haddad chaired the discussion table on global sovereign debt and participated in IMF and World Bank events. In the evening, the minister will attend the dinner for Finance Ministers and Presidents of the G20 Central Banks, at the IMF headquarters.
