Lab stimulates the Green Bond market in Brazil

The global green bond market saw $81 billion issued in 2016. To accompany this trend, the Brazilian Development Association (ABDE), together with the Securities and Exchange Commission (CVM) and the Inter-American Development Bank, launched the Financial Innovation Lab on August 3. The aim of the Lab is to bring together different stakeholders in an intersectoral discussion forum to generate knowledge and foster financial tools for sustainable development.

The event took place at the Hotel Prodigy, in Rio de Janeiro, and brought together representatives of development banks, government entities, insurance companies, and investors. As an external consultant, SITAWI provides support to the Working Group on Green Bonds.

Green bonds issued by Brazilian companies total more than US$ 3 billion outstanding. SITAWI has worked in partnership with some actors such as the Climate Bonds Initiative, IDB and CEBDS to disseminate the concept of green bonds in Brazil, acting as an independent reviewer of the credentials of these bonds.

To mark the launch of the Financial Innovation Lab, the working group on green bonds held its first meeting.  During this meeting SITAWI, in conjunction with the Climate Bonds Initiative, presented both the Brazilian and global landscape of green bonds,  as well as key issues for market development in the country, the role of regulators and public officials, and examples of how other countries have fostered their local markets. The working group currently has a schedule of activities slated until May 2018.

Green Finance and and Impact Investing will also have Working Groups to advance the sustainability agenda. The news about the initiative will be announced on the official website of the Lab: