By Tiago da Silva Conceição (CFC-GS/UFPA)
Banco do Brasil, a public financial institution founded in 1808, plays a central role in the national financial system, offering a wide range of services. However, this study focuses on its leading role in climate finance in Brazil, particularly in supporting sustainable initiatives and promoting a low-carbon economy. According to Lima (2025), “climate finance is one of the main instruments for enabling the transition to a low-carbon economy resilient to the impacts of the climate crisis.” Thus, we will present the institution’s main initiatives.
Foremost among these is Banco do Brasil’s leading role in structuring and granting rural credit geared toward sustainability, as one of the main operators of government programs aimed at the transition to a low-carbon economy. In this context, its role in financing sustainable agricultural practices—such as the restoration of degraded areas, the promotion of integrated crop-livestock-forestry (ILPF), and the adoption of low-emission technologies—highlights its strategic function in implementing international commitments undertaken by Brazil, notably under the Paris Agreement. Such initiatives are linked, for example, to the ABC+ Plan (Low-Carbon Agriculture), consolidating the bank as a driver for the internalization of climate guidelines in the productive sector
Furthermore, Banco do Brasil plays a significant role in financing family farming and historically marginalized segments through credit lines such as PRONAF, which, although not exclusively climate-focused, have significant potential to promote socio-environmental resilience and adaptation to climate change. However, critical literature points to structural barriers in access to these instruments for traditional populations, such as quilombola, indigenous, and riverine communities, due to bureaucratic hurdles, documentation requirements, and information asymmetries. This scenario reveals a tension between the formal universalization of credit policies and their effective reach in local communities.
Another key area concerns the bank’s role in intermediating and allocating resources from both national and international climate and environmental funds. In this regard, Banco do Brasil contributes to the implementation of initiatives such as the Amazon Fund and financial mechanisms associated with the REDD+ (Reducing Emissions from Deforestation and Forest Degradation) agenda, enabling investments in conservation, sustainable management, and the bioeconomy. This function reinforces its role as a link between global climate finance flows and their materialization in local projects.
At the same time, Banco do Brasil is making progress in incorporating innovative financial instruments aligned with the ESG (Environmental, Social, and Governance) agenda, such as the issuance of green bonds and the development of financial products focused on sustainability. These mechanisms expand the bank’s capacity to raise funds in the international market and contribute to the diversification of climate finance sources in the country, while simultaneously embedding the bank in global dynamics of the financialization of nature and the climate.
Thus, Banco do Brasil emerges as a strategic actor in the field of climate finance in Brazil, operating at the intersection of the state, the market, and society. Its actions have significant potential to drive the ecological transition and promote climate justice; however, the effectiveness of this role depends on addressing structural inequalities, strengthening socio-environmental governance mechanisms, and building financing models that recognize and value the knowledge and ways of life of traditional communities.
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REFERENCES
LIMA, Andressa. Financiamento climático no Brasil (2014–2023): evolução, destino dos recursos e instrumentos financeiros. Centro de Financiamento Climático para o Sul Global, 2 set. 2025. Disponível em: https://cfc-gs.com.br/pt/financiamento-climatico-no-brasil-2014-2023-evolucao-destino-dos-recursos-e-instrumentos-financeiros/. Acesso em: 30 abr. 2026.
BANCO DO BRASIL. Relatório de Sustentabilidade 2023. Brasília: Banco do Brasil, 2023. Disponível em: https://www.bb.com.br. Acesso em: 30 abr. 2026.
BRASIL. Ministério da Agricultura e Pecuária. Plano ABC+ 2020-2030: Agricultura de Baixa Emissão de Carbono. Brasília, 2021.
Banco Central do Brasil. Relatório de Riscos e Oportunidades Sociais, Ambientais e Climáticas (RIS). Brasília: BCB, 2023. Disponível em: https://www.bcb.gov.br. Acesso em: 30 abr. 2026.
