The English organization Climate Arc carried out its first work in Brazil with the support of iCS, in an event that brought together banks, investment funds and others to expand the theme of financing

Climate Arc organized the first workshop of the “Conversation Tour” in São Paulo, Brazil, to discuss opportunities with civil society to expand and engage climate finance. iCS was one of the organizers of the event, which attracted more than 60 market leaders, including representatives from banks, investment funds, researchers and academia. The institution published the following about the meeting: “There is real impetus and energy for climate financing in Brazil – as well as an understanding that we need to act quickly. There is also an appreciation in the community that collaborative action is fundamental in order to take advantage of the opportunities.”

Climate Arc, in partnership with iCS, also commissioned a broad study for Nint with the intention of analyzing climate finance in Brazil. In its diagnosis, Nint explains that Brazil needs to invest tens of billions of Reais to comply with its climate commitments by 2030, with a significant challenge involved: the owners of the money are not concerned about the subject.

The largest institutional investors in the country, including private pension funds, insurance companies, foundations, family offices and private pension companies, have not yet committed to decarbonization in their portfolios. Gustavo Pinheiro, the Low Carbon Economy coordinator of iCS, explains that, at the very least, there is a significant opportunity to bring in capital by engaging with these asset owners.

Sustainable Inclusive Solutions (SIS) was another organization with work requested by the English entity, identifying several weaknesses in the environmental practices in the grant of credit and in the transparency of banks with respect to the subject. Read a report by Capital Reset.

Credit: Climate Arc and iCS teams. From left to right: Felix Preston, Meryam Omi, Kaye Bettney, Carine Lacerda, Beate Van Loo-Born, Gustavo Tosello Pinheiro, Hannah Messenger, Bernardo Piquet, Stephanie Akinyelure / Climate Arc – Disclosure