Banco do Brasil's Green Ambitions: Aims for Sustainable Growth by 2030

Brazil’s Banco do Brasil seeks to increase its green loan target beyond 500 billion reais by 2030 to finance sustainable efforts. This comes amid a global funding push to combat climate change. Currently, the bank supports eco-friendly agriculture, land restoration, and carbon offset projects, emphasizing ESG investment resilience.

Banco do Brasil, a state-run financial powerhouse, is poised to elevate its sustainability lending target beyond the current 500 billion reais by 2030. Executives revealed this move as developing nations increasingly rely on financial avenues to bridge the gap in climate change funding.

With a current sustainable lending portfolio of 360 billion reais, the bank focuses heavily on agricultural projects that mitigate carbon emissions. Francisco Lassalvia, vice president of wholesale banking, highlighted an ambition to hit 100 billion dollars in sustainable lending, sourced from foreign and development banks by 2030.

Vice President Jose Ricardo Sasseron expressed confidence in the unwavering support for ESG investments, even amid political shifts such as Trump's re-election. Meanwhile, discussions at forums like the G20 further bolster financial support for sustainability, with Banco do Brasil already backing substantial land restoration and carbon offset efforts.

(With inputs from agencies.)