Brazil Establishes Restoration and Bioeconomy Finance Coalition

On November 17, 2024, leaders of Brazil's public and private sector launched the Restoration and Bioeconomy Finance Coalition (BRB Finance Coalition) on the sidelines of the G20 Summit with the aim of accelerating conservation and restoration of Brazil's forests. Its founding members include Banco do Brasil, Banco Nacional de Desenvolvimento Económico e Social (BNDES), Banco Português de Investimento (BPI), the World Bank Group and the World Economic Forum, with a total investment of at least USD 10 billion by 2030.

The BRB Finance Coalition will support Brazil's goal of restoring 12 million hectares of forests by 2030 through investments in low-emission agriculture, forestry projects, land-use actions, and other bioeconomic activities. In addition, it will invest USD 500 million to generate benefits for indigenous peoples and local communities, with the Amazon region being a focus. The coalition will work together in 2025 to drive concrete results in support of these goals, and will announce real progress at the 30th Conference of the Parties (COP30) to the United Nations Framework Convention on Climate Change (UNFCCC) in Belém, Brazil.

The BRB Coalition highlights the importance of forest restoration in Brazil's policy agenda. As a business- and impact-oriented tool, it is committed to unlocking the potential of sustainable investments to promote economic growth while protecting the environment, combining environmental protection with economic innovation. As the coalition moves forward, it will seek to provide concrete solutions to combat climate change while contributing to the promotion of a thriving bioeconomy. For companies going to Brazil, it is suggested to further explore opportunities in the field of sustainable development and to further increase their presence in local communities by participating in the programs operated by BRB Coalition and other entities.

Picture Source: Unsplash