Brazil Climate Fund can grow threefold: Bndes

: Emissions
24/05/24

Demand for Brazil's Climate Fund is three times larger than the R10.4bn ($2.02bn) it currently holds, the president of the country's development bank Bndes said on Thursday.

"We have a growing demand [for the fund]", president Aloizio Mercadante said during an event held by Rio de Janeiro state's industries federation. "We will perhaps expand the fund, because demand is already three times greater than what we have."

Mercadante called on industries and entrepreneurs to present "good, bold projects."

The Climate Fund is linked to Brazil's environment ministry and managed by Bndes. It was created in 2009 and uses resources from oil and natural gas exploration to mitigate and combat climate change.

By Lucas Parolin

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24/12/20

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Sao Paulo, 20 December (Argus) — Brazil's Bndes development bank approved R94.8mn ($15.6mn) in financing for transport company MobiBrasil to buy 87 electric buses in Sao Paulo city. The environment ministry's climate fund — created to finance climate change mitigation projects and Bndes — will be responsible for R45mn. A federal fund to provide financial security to the unemployed, dubbed FGTS, will be responsible for the remaining R49.8mn. This is Bndes' first operation using FGTS resources. Earlier this month, Bndes said it will invest R2.5bn to buy 1,300 EV-buses in Sao Paulo city . On 9 December, the city's council postponed the bus fleet transition from diesel-powered to EVs to 2054 from the previous 2038 deadline. By Maria Frazatto Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Australia’s Cleanaway, LMS to produce landfill gas

24/12/20

Australia’s Cleanaway, LMS to produce landfill gas

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Trump backs new deal to avoid shutdown: Update

24/12/19

Trump backs new deal to avoid shutdown: Update

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Power supply crisis to lift Ecuador’s GHG emissions

24/12/19

Power supply crisis to lift Ecuador’s GHG emissions

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Viewpoint: Foundations laid for increased VCM liquidity

24/12/19

Viewpoint: Foundations laid for increased VCM liquidity

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