Initiative aims to leverage opportunities for sustainable actions in Belém and the Legal Amazon, as well as unlock resources for this purpose

CEBDS (Brazilian Business Council for Sustainable Development), in partnership with Instituto Igarapé and JGP Gestão de Crédito, signed today, December 4, a cooperation agreement to unlock financial flows for sustainable initiatives that leave a concrete legacy of the Brazilian business sector in Belém and/or in the Legal Amazon, for COP30, the UN Climate Conference, which will take place in the capital of Pará in 2025.

The agreement aims to structure hybrid finance mechanisms to enable these initiatives.

The initiative will have responsibilities distributed among the three partners. CEBDS will coordinate with its associated companies to identify and propose sustainable initiatives in the Belém region and in the Amazon. Igarapé will be responsible for providing support in the design, implementation, monitoring and evaluation of the selected green finance initiatives.

Both CEBDS and Igarapé will also mobilize partners and potential national and international donors, financiers and investors, as well as articulate with public authorities and civil society.

JGP will structure and manage financial mechanisms and accelerate assets for investments in the financial mechanisms developed; coordinate with investors; monitor the impact and manage the theory of change in sustainable finance; and support the development of financial mechanisms linked to the initiative.

The signing of the cooperation agreement took place at the event “Financing ecological transformation in the Amazon: blended finance solutions for practical application in the territory”, today, at COP28, which is being held in Dubai, in the United Arab Emirates.