The International Monetary Fund revised up its 2020 economic outlook for Brazil, but warned that risks remain “exceptionally high and multifaceted” and government debt is on course to end the year around 100% of gross domestic product. The IMF now expects Latin America’s largest economy to shrink by 5.8% this year, much less than the 9.1% contraction it had previously estimated, and predicts a “partial” recovery and 2.8% growth next year.
Brazil was ranked for the first time among the ten countries that generated the most jobs in the photovoltaic solar energy sector in 2019. According to Absolar, the country reached last year the mark of 60 thousand workers hired in all links of the value chain of the photovoltaic sector.
Source: Agencia Estado
The government wants to include the privatisation and concessions program in the list of efforts to protect the environment. According to the government, building infrastructure through concessions and privatisation represents a favourable strategy for the environment, at a time when investors are tightening the siege on environmental policies and increasingly seeking ESG portfolios.
São Paulo retail had a significant increase in sales at the beginning of the second semester, according to FecomercioSP’s survey. According to the research, the sector has invoiced R$66.3 billion ($12 bn) in July, a growth of 6.8% in relation to the same period last year.
Banks in developing countries are seeking a new type of security as a way to enter the growing market of socially responsible debt. So-called sustainability bonds may be suitable for emerging market banks because they bypass the challenges found in green bonds. Issuers of the new types of bonds promise to pay a fine if they fail to meet the ESG targets.
Source: Money Times
Celesc will invest R$ 86,75 ($16mm) million in the electricity grid of the Alto Vale region (SC), benefiting 44 municipalities. Among the actions, the company highlights the expansion of substations (SEs) and the installation of automatic reconnectors. Of the resources, R$ 34.7 ($6.4 mm) million are destined to the network that serves the rural properties of that area.
Source: Energia Hoje