Abstract

This paper aimed to analyse the role of the BNDES in promoting the ‘green economy’
in Brazil over the past decade. We defend that, as a development bank, BNDES is an essential
player in encouraging investments that are low-emission, environmentally sustainable, and
climate-change resilient. The paper is organized as follows. After the introduction, section 2
delves into the role to be played by development banks in promoting environmentally sustainable,
low GHG emission economies. Section 3 analyses the BNDES’ disbursements in the green
economy between 2010 and 2021. Section 4 highlights the mobilization of BNDES resources for the green economy, including the management of environmental and climate funds, as well
as the issuance of green and sustainable bonds. Finally, concluding remarks are presented.

JEL Classification: E51; G21; Q01.