Brazil is in a very positive moment in terms of green finance. The assessment is made by Itaú’s Sustainability and ESG Strategy superintendent, Fabio Luiz Guido. During a panel at Casa CASE, in Belém, Guido highlighted three initiatives in this area.
One of them is the Ecoinvest program, which officially launched its fourth auction this afternoon in the blue zone of the 30th United Nations Conference on Climate Change (COP30). The Itaú executive highlighted the importance of blended finance operations in Brazil as a lever for projects and businesses focused on socio-environmental sustainability and climate.
“With the Ecoinvest auctions, it was possible to drastically reduce the cost of financing, the cost of capital”, highlighted the Itaú superintendent on the CASE panel, which is the Climate Action Solutions & Engagement initiative promoted by Bradesco, Itaú, Itaúsa, Marcopolo, Natura, Nestlé and Vale.
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Guido also mentioned the Brazilian Sustainable Taxonomy (TSB). “It is very important to create a sustainability standard and then be able to compare projects,” he said. Based on a common standard, he pointed out that it also becomes possible to think about an appropriate tax treatment.
The Itaú executive also mentioned the creation of the regulated carbon market at the end of last year. “The market still needs to be structured”, he pointed out. “But when that happens, this market will generate additional cash flow for projects and companies,” he stated.
