Bradesco, Itaú Unibanco and Santander launch the Amazon advisory board

The three major private banks in Brazil, Itaú Unibanco, Bradesco and Santander announced the establishment of the Amazon advisory board and have already selected its seven members. According to a statement, sustainability experts from the three financial institutions have already formed a working group, which has met regularly to propose concrete initiatives and actions for the Amazon region.

Source: UOL Economia

Environmental and civil society present proposals for sustainable tax reform in Brazil

The Environmentalist Parliamentary Front promoted the presentation of nine proposals for the “Sustainable Tax Reform”. The proposals aim to respond to two challenges for the development of Brazil: on one hand, to simplify rules, reduce the tax burden and eliminate harmful subsidies; on the other hand, to favour the development of a green economy that puts the country at the forefront of the XXI century development paradigm.

Source: Money Times

Projects for sanitation of concessions and partnerships totalize $11.2 bn

The approval of the new sanitation framework should strengthen the entry of private investments in the sector. The government is studying concessions and Public-Private Partnerships (PPPs) projects that amount to R$ 62 billion ($11.2 bn). Of that amount, R$ 55 billion ($10 bn) are in BNDES and another R$ 7 billion ($1.3 bn) with Caixa. The largest of the projects being structured at BNDES, of R$ 33.5 billion ($6 bn) is in Rio de Janeiro.

Source: Valor Investe

CNPE reduces Renovabio decarbonisation targets in Brazil

The National Energy Policy Council approved a resolution to reduce the annual compulsory goals for the reduction of greenhouse emissions for the commercialisation of fuels under the RenovaBio program. The Ministry of Mines and Energy did not report the amount, but in the proposal presented on July, provided for the emission of 14 million decarbonisation credits, known as CBios.

Source: Canal Energia

Government transfers $114 mm from Lava Jato to defense in the Amazon

Information shows how the R$630 million ($114 mm) that, by decision of the Federal Supreme Court (STF), should be used to finance inspection and combat forest fires in the Amazon. The government’s decision to centralize all surveillance of the Amazon in the armed forces is already reflected in the volume of financial resources, R$ 530 million ($96 mm), equivalent to 84%, was allocated to the Ministry of Defense.

Source: Ambiente Brasil

IDB approves $1 bn to support emergency programs in Brazil

The Inter-American Development Bank (IDB) approved a $1 bn loan to Brazil that will help the federal government pay for emergency programs designed to contain the effects of the covid-19 pandemic. Of the total, $400 mm will contribute to the emergency relief and the Bolsa Família is expected to receive $200 mm from the credit operation.

Source: Isto É

Brazilian government will sell 100% of its participation in Vale

The federal government will reduce its participation in Vale mining company by 100%, highlighting that it is not an objective of public authorities to be shareholders of companies. The government still had a participation in Vale and is reducing its participation until it sells 100%. The government will substantially reduce its portfolio of companies and its hedge fund.

Source: UOL Economia