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The Brazilian Development Bank (BNDES), one of the largest development banks in the world provided in 2015 85 percent of the eleven billion US dollars for climate-related initiatives implemented by Brazil. Because of their dedication to the subject, the BNDES not only contributed directly to climate financing but introduced private players to the issue of “climate financing”. Despite this relatively positive starting point, private financing still rests on shaky foundations due to the economic crisis.

Wind turbines on the beach of Canoa Quebrada.© silkfactory, iStockPhoto
Wind turbines on the beach of Canoa Quebrada. Source: © silkfactory, iStockPhoto

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