Cassa Depositi e Prestiti signed a Letter of Intent with the Brazilian Ministry of the Environment and Climate Change and the leading European development banks to support Brazil’s National Climate Fund for climate mitigation and adaptation projects
CDP also signed an MoU with Banco Nacional de Desenvolvimento Econômico e Social to promote green initiatives, accelerate the transition to a low-emission economy and support the international expansion of Italian companies
During the summit, CDP took part in numerous multilateral initiatives, from the launch of the new Climate State of Ambition promoted by IDFC to the Joint Statement on climate by EDFI
Up to one billion euros to support the ecological transition in Brazil. This is the objective of the Letter of Intent signed by Cassa Depositi e Prestiti together with the Brazilian Ministry of the Environment and Climate Change, Banco Nacional de Desenvolvimento Econômico e Social (BNDES), and the European development banks KfW and AFD. Signed at COP30 in Belém – the global climate summit now in its 30th edition – the agreement provides for the creation of a Joint Initiative to finance Brazil’s National Climate Change Fund (FNMC), aimed at emission reduction initiatives and adaptation to the effects of climate change. Thanks to the support of CDP and the other European institutions, the Fund will be able to strengthen its operational and financial capacity, accelerating the achievement of the country’s climate targets. This is an innovative mechanism that consolidates cooperation between Europe and Brazil and is part of CDP’s strategy to promote sustainable investments.
During the conference, CDP – as a member of the International Development Finance Club (IDFC), the network bringing together 27 public development banks worldwide – signed on to the Climate State of Ambition. This document strengthens the commitment of the institutions to support a fair, ambitious climate transition through more direct financing for mitigation projects, innovative blended finance instruments and the large-scale mobilisation of private capital.
At the same time, CDP signed the joint statement of the European Development Finance Institutions (EDFI), which marks a step forward towards more sustainable investment strategies.
The commitment envisages collectively increasing the share of climate financing to more than 40% of total new annual commitments over the next five years, to strengthen support for environmental projects, integrate biodiversity protection and support the most vulnerable economies. The statement also aims to harmonise methods and promote common standards for measuring the impact of initiatives.
Also during the conference, CDP and Banco Nacional de Desenvolvimento Econômico e Social (BNDES) signed a Memorandum of Understanding launching strategic cooperation to develop and finance green projects in Brazil. The agreement aims to foster the transition to a low-emissions, climate-resilient economy while supporting the international expansion of Italian companies. Among the priorities are renewable energies, sustainable infrastructure, agribusiness and natural resource management, with the aim of generating concrete impacts on development and strengthening the ties between Italy and Brazil.
COP30 also provided the opportunity to launch the D20-LTIC Sustainable Food Systems Coalition, a platform promoting coordination between financial institutions for sustainable food systems, in line with G20 priorities and CDP’s strategy.
Finally, CDP organised more than ten bilateral meetings with international counterparts, including several South American banks such as Development Bank of Latin America and the Caribbean (CAF), Banco Nacional de Desenvolvimento Econômico e Social (BNDES), FONPLATA and the Latin American Association of Development Financing Institutions (ALIDE).