We need to fix climate finance: chat about COP28, Brazil and climate 

A continental country, with a robust economy and political will. Brazil has everything to move forward and take part in the climate debate. In a post-COP28 scenario, we spoke with Fernando Campos, our specialist and manager of the Conservation and Climate Finance area, about Brazil's relevant role in this fight from his perspective and participation in the 2023 conference.

How can Brazil contribute to the international debate on climate change? 

Tackling climate change is the responsibility of different actors in different sectors of the economy. The majority of Brazilian emissions come from land use change, that is, degradation and deforestation of forests and natural ecosystems. Now, the second largest source of emissions is the agricultural sector. In this context, we have a great opportunity before us, as the reduction of greenhouse gas emissions from our two largest sources can be achieved at a relatively lower financial cost when compared to other economic sectors, such as transport or energy.

So are we on the right path? 

Brazil is a continental country, which contains the largest tropical forest in the world and which has already shown that deforestation has decreased in the last year. We need to keep this discourse focused on reducing deforestation and forest degradation in order to move forward. 

How can we advance the climate finance debate? 

Promises of financial resources abound. The first day of COP28 saw the launch of the Loss and Damage Fund [delegations approved a fund of US$ 700 million for nations vulnerable to disasters]. The biggest challenge in financing is getting the money to the end. Because it is at the end where we have organizations that actually work with climate projects, reducing deforestation and implementing more sustainable food systems. 

How do I get the money?

Organizations like Sitawi are essential to unlocking these resources. We are an organization that develops financial solutions to unlock and leverage greater financial flows for organizations that work with climate impact and nature conservation.

What sets Sitawi apart? 

Sitawi has extensive experience in carrying out economic, financial and socio-environmental studies and analyses, aiming to develop practical solutions and impacts on decision-making processes. We are able to simplify access to these resources for impact organizations and translate complex financial and economic terms for cutting-edge organizations. 

End of interview.

Would you like to read our position on financing mechanisms for climate issues? Read the briefing note about Carbon Markets and the Role of Sitawi

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