Brazil to receive $250M in external funds to decarbonize industry
Brazil will receive $250 million from the Climate Investment Funds (CIF) for its Industry Decarbonization Program. Developed by three ministries, the program was selected from among 26 countries.
The Brazilian project was presented by the ministries of Development, Industry, Trade and Services; Finance; and Mines and Energy. It outlines a strategy to accelerate the transition of emission-intensive industrial sectors—such as cement, steel, aluminum, chemicals, and fertilizers. The plan also calls for the development of low-carbon technologies, with a focus on innovation, promotion of the circular economy, and creation of green jobs.
The proposals from the 26 countries were reviewed by the CIF Trust Fund Committee, based on a technical assessment conducted by an independent group of experts.
The Brazilian project, which received the highest score among the competitors, is part of the National Strategy for Industrial Decarbonization—one of the pillars of the New Industry Brazil (NIB) Program, launched in early 2024.
In the coming months, Brazil will present its investment plan to the committee for approval, detailing priority projects, financial instruments, and strategies for mobilizing private capital.
The Climate Investment Funds are a global initiative that mobilizes financial resources to help developing countries adopt innovative solutions to climate change. They aim to promote clean technologies, expand energy access, strengthen climate resilience, and support sustainable forest management, contributing to sustainable development and the reduction of greenhouse gas emissions.
