Led by: Instituto Talanoa |
Sector: Finance |
“Brazil's climate policies suffer from underfunding due to a lack of efficient capital attraction strategies. This deficit obstructs both public and private endeavours aimed at expediting decarbonisation across crucial economic sectors. The establishment of a Paris-aligned green finance strategy in Brazil is pivotal, poised to unleash transformative green investments."
- Natalie Unterstell, President, Instituto Talanoa
This project aims to create Brazil's first-ever Green Finance Governance Framework. This framework will serve as a foundational step towards guiding sustainable investment practices across the country. Additionally, it seeks to enable the Federal Government to strategically allocate funds for the implementation of its Nationally Determined Contributions (NDCs), with a clear focus on achieving targets set for 2030 while mainstreaming Gender Equality and Social Inclusion (GESI) in its approach. This strategy will be informed by the best available climate scenarios, ensuring that investments are both impactful and aligned with global climate goals.
The project seeks to fill significant gaps in Brazil's national climate policy, which currently features limited financial instruments and lacks a focused strategy on financing the most efficient and cost-effective mitigation options. Brazil has not established a strategy for accessing international funding sources, such as the Green Climate Fund. In the context of the ongoing revision of the National Climate Policy and sectoral plans, this initiative aims to enhance the federal government's capacity to develop and implement a science-based climate finance strategy.
Moreover, the project plans to propose an updated Brazil Country Programme for the Green Climate Fund. This proposal is designed to facilitate strategic and effective access for Brazilian financial institutions to international sources of finance, enhancing the country's capacity to meet its climate objectives. One of the expected outcomes is to provide a detailed compilation of green finance data, sources, mechanisms, and partners. This resource will support the implementation of the new National Climate Plan, offering a clear and accessible guide to green finance options available for supporting Brazil's transition to a more sustainable and low-carbon economy.
“Our experience has been that the main obstacles to climate action lie not in a lack of analysis or available resources, but in the silo-based nature of institutions and decision-makers. With this project, we will therefore work to align politics and policy to leverage strategic outcomes such as climate financing governance and actionable strategies.”
- Natalie Unterstell, President, Instituto Talanoa
UK PACT (Partnering for Accelerated Climate Transitions) is a unique capacity-building programme. Jointly governed and funded by the UK Government’s Foreign, Commonwealth and Development Office (FCDO) and the Department for Energy Security and Net Zero (DESNZ) through the UK's International Climate Finance, it works in partnership with countries with high emissions reduction potential to support them to implement and increase their ambitions for tackling climate change.
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