Brazil is intensifying efforts to accelerate its energy transition and attract international investment in eco-friendly projects. Lacking sufficient government funds for subsidies, Brazil is focusing on private sector and foreign investment to support these initiatives.
As part of this, Brazil has launched the "Brazil Climate and Ecological Transformation Investment Platform" (BIP) with international partners, including Bloomberg Philanthropies and the Glasgow Financial Alliance for Net Zero. The platform will direct funding toward energy transition and nature conservation projects, such as reforestation, waste management, and high-emission sectors like steel and cement.
BIP has initially selected six projects, worth a combined $10.8 billion, including a green diesel plant in Bahia, green hydrogen production in Ceara, and a reforestation initiative for the Atlantic Forest in Sao Paulo.
In addition, Brazil recently introduced the Eco Invest program, developed in partnership with the World Bank and Inter-American Development Bank, offering currency hedging to reduce exchange rate risks for renewable energy projects.
Brazil also proposed a global wealth tax at the G20 and plans to establish a "Tropical Forests Forever Facility," aiming to secure $125 billion to protect 1 billion hectares of tropical forests.
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