Brazil presents new investment initiative to tackle climate change

Brazilian Finance Minister Fernando Haddad took part in the launch of Brazil's new Climate and Ecological Transformation Investment Platform, which was named BIP, on Wednesday. The news was announced by Agencia CMA, a partner of TV BRICS.

This platform was created to advance Brazil's ambitious climate and development goals through collaboration with various partners, including the National Bank for Economic and Social Development (BNDES), the Green Climate Fund.

The project's main objective is to expand and optimise the sources of investment needed to support Brazil's Environmental Transformation Plan in key sectors of the economy. The BIP also aims to serve as an example for other countries wishing to integrate their environmental and climate goals into specific investment programmes.

Haddad emphasised in his speech that the ecological transition requires coordination and communication at a global level.

"We have to redesign global finance around sustainable finance and promote the ecological transformation more quickly," he emphasised.

The senior official stressed the importance of involving young people in the dialogue on climate change, believing that they should be the main implementers of this transformation.

The BIP platform is a significant step for Brazil in its quest for sustainable development and the fight against climate challenges.

Photo: Diogo Zacarias / MF