Sustainable Finance for Biodiversity in Brazil and Colombia (SF4B)

To integrate the biodiversity perspective into the development of sustainable finance taxonomies, which define sustainable investments, it is important to promote the understanding of how taxonomies work and their potential to mobilize capital. This research and capacity building project focused on empowering relevant policymakers and financial market actors in the use and application of sustainable finance taxonomies in Brazil and Colombia, considering biodiversity and ecosystems. Additionally, it raised interest in the application of such taxonomies among companies from biodiversity-relevant sectors via practical examples. Through the knowledge exchange between the target region and the EU, international cooperation was strengthened to harmonize sustainable finance practices and promote a post-COVID-19 recovery in harmony with nature and the achievement of international biodiversity goals.

Project data

Countries
Brazil, Colombia
IKI funding
703,501.29 €
Duration
09/2021 till 03/2024
Status
completed
Implementing organisation
Frankfurt School of Finance & Management gGmbH
Implementing Partner
  • Fondo Acción
  • Fundação Getulio Vargas (FGV)
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State of implementation/results

  • Inventory of existing frameworks for sustainable financing in Brazil, Colombia and the EU. Context Colombia: Publication of draft national taxonomy in October 2021, commenting by the project through public consultations.
  • In 2020, the Brazilian Banking Federation (FEBRABAN) updated its 2014 Green Taxonomy methodology developed with project partner Fundação Getúlio Vargas to measure financial flows in green economy sectors. Currently, reporting is no longer a voluntary obligation of financial institutions, but a process that retrieves data from the Central Bank's Credit Information System.
  • Synergies for dialogue with the Brazilian government with GIZ's FiBras IKI project, which aims to expand green/sustainable finance. (www.giz.de/…).
  • National stakeholder dialogues and trainings in 2022.
  • Brazil:
    • Realization of multiple engagement meetings with relevant stakeholders interested in a potential regulation of a Brazilian taxonomy (highlighting the most recent ones, with the Brazilian Central Bank (BC), Securities and Exchange Commission (CVM) and the executive office of the federal government (Casa Civil); Realization of interviews with socio-environmental organisations related to indigenous communities; Realization of seven online training session on Taxonomies provided in partnership with Greenomy;
    • FGV organized in person workshops on the state of the art of taxonomies and biodiversity, with Greenomy support. Each of one those were dedicated to a different public that hold interest in a potential regulation of a taxonomy for Brazil: Financial institutions, Companies and regulators (NGOs and government).
  • Colombia:
    • Online sessions were held as part of the training programme developed with the Universidad Autonoma de Bucaramanga, with hundreds of participants each. These sessions can be seen in the YouTube channel as reported below. Massive Open Online Courses (MOOCs, free online courses) were realized.
    • Workshops with private financial sector and government (mainly the Green Taxonomy Table) were held to present relevant information on: blended finance for biodiversity, Nature-based solutions (NBs) for the financial sector, and NbS from the perspective of the Colombian Green Taxonomy.
  • Publications:
    • Rutas hacia las finanzas para la biodiversidad (Sp, En, Pt) www.fs-unep-centre.org/…;
    • National Overview of Biodiversity Finance – Current Status and Challenges in Colombia (publication also in Spanish and Portuguese) fondoaccion.org/…;
    • Stocktaking Report: Biodiversity financing context in Brazil (publication also in Spanish and Portuguese) eaesp.fgv.br/…
  • Online seminars
  • Video classes:

Latest Update:
07/2024

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