Climate Fund (BNDES)

governmentBrazil

The Climate Fund (BNDES) is a government-backed program under the Brazilian Development Bank (BNDES) that manages reimbursable funds from the National Fund on Climate Change. It provides financing for projects, machinery, equipment, and technological development aimed at reducing greenhouse gas emissions and adapting to climate change. The program operates through ten sub-programs, including Urban Mobility, and selects external fund managers—such as Flying Rivers Capital—to deploy capital into climate-focused investments. BNDES has committed approximately $850 million to seven climate funds through this initiative.

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