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Brazil plans greenhouse gas reduction fund
15/02/2012
A new source of funding for projects focused on greenhouse gas reduction and tackling climate change has been announced in Brazil.
Izabella Teixeira, the minister of the environment, and Brazilian National Development Bank president Luciano Coutinho confirmed that the country will be providing a new credit line to support such projects.
Dubbed the National Climate Change Fund, the new finance is designed to encourage investment from private, municipal and state sources in a bid to prepare Brazil for competition in a low-carbon economy.
Minister Teixeira stated at the launch event: “The Climate Fund is one of the main instruments in Brazil's climate change policy. By 2014 it has the potential to provide up to R$1 billion in financing to support Brazil's national commitment to reducing greenhouse gas emissions.”
Included in the potential projects due to receive funding are efforts to combat desertification. This incorporates programmes that restore biomes and develop sustainable production activities involving timber planting in the northeastern region of Brazil.
Efforts to develop more energy efficient machinery and equipment will also be up for funding, as will renewable energy projects, such as wind power, biomass, ocean and solar radiation schemes.
Izabella Teixeira, the minister of the environment, and Brazilian National Development Bank president Luciano Coutinho confirmed that the country will be providing a new credit line to support such projects.
Dubbed the National Climate Change Fund, the new finance is designed to encourage investment from private, municipal and state sources in a bid to prepare Brazil for competition in a low-carbon economy.
Minister Teixeira stated at the launch event: “The Climate Fund is one of the main instruments in Brazil's climate change policy. By 2014 it has the potential to provide up to R$1 billion in financing to support Brazil's national commitment to reducing greenhouse gas emissions.”
Included in the potential projects due to receive funding are efforts to combat desertification. This incorporates programmes that restore biomes and develop sustainable production activities involving timber planting in the northeastern region of Brazil.
Efforts to develop more energy efficient machinery and equipment will also be up for funding, as will renewable energy projects, such as wind power, biomass, ocean and solar radiation schemes.
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