As stated by the AIIB, the Program supports the Government of Brazil's actions toward achieving the climate goals articulated in the Nationally Determined Contributions (NDCs) through policy and institutional measures required to implement the Ecological Transformation Plan (ETP) in the areas of sustainable finance, energy transition, and green infrastructure and resilience.

While Brazil faces increasing vulnerability to adverse impacts from climate change particularly in the agricultural sector and urban areas, Brazil can further strengthen its capability to rein in Greenhouse Gas (GHG) emissions through strategic policy reforms and innovative financial, economic, and social instruments such as carbon market, blended climate finance, technology development, and community participation in conservation of critical natural assets. Furthermore, these innovative instruments are also aiming at attracting greater private sector investment in sustainable and climate friendly projects and programs.

To support the government's National Determined Contribution (NDC) ambition to move toward net zero in 2050 and resilient development pathway under the ETP platform, AIIB designed the Brazil VERDES Climate Policy-Based Financing (BR-CPBF) Program in close collaboration with the Government of Brazil (GOB) and in coordination with development policy financing programs led by the World Bank (WB) and the Inter-American Development Bank (IDB).

The Program comprises three Pillars and corresponding Policy Actions (PAs) that are closely aligned with the three thematic areas of the ETP:

Pillar 1 - Sustainable Finance:
Directing public, private, national, and international financial resources to sustainable activities, low carbon growth, resilience, ecological transformation, and biome regeneration.

Pillar 2 - Energy Transition:
Promoting technologies in sustainable bioenergy with competitive cost and ensuring sustainable value chains.

Pillar 3 - Green and Resilient Infrastructure:
Enhancing resilience of critical natural assets and infrastructure to mitigate and address potential impacts of climate change, as well as protect and restore critical natural ecosystems.

AIIB Team Leader:

Nat Pinnoi - Senior Investment Officer
Email: nat.pinnoi@aiib.org

Client - Government of Brazil:

Mario Gouvea Almeida - Secretariate of the Treasury, Ministry of Finance, Brazil
Email: mario.g.almeida@tesouro.gov.br

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.aiib.org/en/contact/information-request/index.html

ACCOUNTABILITY MECHANISM OF AIIB

The AIIB has established the Accountability Mechanism for Project-Affected People (PPM). The PPM provides Òan opportunity for an independent and impartial review of submissions from Project-affected people who believe they have been or are likely to be adversely affected by AIIBÕs failure to implement the ESP in situations when their concerns cannot be addressed satisfactorily through Project level GRMs or AIIB Management processes.Ó Two or more project-affected people can file a complaint. Under the current AIIB policy, when the bank co-finances a project with another development bank, it may apply the other bank's standards. You can refer to the Project Summary Information document to find out which standards apply. You can learn more about the PPM and how to file a complaint at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/how-we-assist-you/index.html

The complaint submission form can be accessed in Arabic, Bahasa Indonesia, Bengali, Chinese, English, Tagalog, Hindi, Nepali, Russian, Turkish, or Urdu. The submission form can be found at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/submission/index.html