BNDES is accepted by the UN climate fund

The institution will receive funding resources from the United Nations for low carbon emission projects in developing countries

© Ubirajara Machado Amazon Forest (Photo: Ubirajara Machado/Federal Government)

The BNDES (Brazilian Development Bank) is now part of the UN Climate Fund. The institution was accepted at the end of last week, by the GCF (Green Climate Fund), that funds projects to tackle climate change in developing countries. Approval means Brazil will have access to resources for low carbon emission projects, through the bank.

In a discussion prior to the bank’s accreditation, the GCF said that the Brazilian institution must create gender policies that are in line with the Climate Fund’s guidelines. This was the only condition given for its participation. 

However, on the eve of the meeting to define its accreditation, Conectas sent a letter, along with other organisations, calling for the Climate Fund to consider the fragility of Brazilian institutions linked to the preservation of the environment, in the current government scenario, with the aim of also including other requirements for the bank’s accreditation.

In the document, the organisations ask the Fund to ensure that local systems and institutions are suitably equipped to deliver the expected results of sustainability, with the development of monitoring and transparency policies, commitment to guaranteeing human rights and the rights of traditional peoples, among other measures. The requests were not converted into conditions for the institution’s approval.

Amazon Fund

This decision took place at the same time as the possibility of abolishing the Amazon Fund was being discussed. This is the principal instrument for the preservation of the world’s largest tropical forest. The biggest backers of the Fund, Norway and Germany, have already admitted that the initiative may become extinct because of disagreements between donors and federal government, that has dissolved the committees in charge of managing the Fund: Cofa (The Amazon Fund Guidance Committee) and the technical committee. The Amazon Fund budgets are generated by the BNDES. 

In the letter sent to the GCF, the organisations mention the Amazon Fund as good management practice on socioenvironmental policies, highlighting aspects related to transparency and the participation of civil society.