Net zero push: Brazil to chase global investors for hundreds of billions of dollars

The relatively new government in Brazil is preparing to launch an ambitious net zero investment plan worth hundreds of billions of dollars that should lure global investors to South America's largest economy.

The climate strategy will include over 100 projects covering six policy areas, ranging from carbon emissions to net zero infrastructure and biodiversity.

The Brazilian government is reportedly finalising plans to actively reach out to major asset owners and other investors around the world, to get them to sign up to one of the projects as the aim is to make investors pay for "a substantial portion of the funding".

The investor-focused program, which will reportedly be made public later this year, includes the establishment of a regulated carbon market and an action plan to attrac investors to pump fresh equity into green tech and renewables.

Pro-net zero wind

The plans reflect the pro-climate course of the new government of Brazilian President Luiz Inacio Lula da Silva, who returned to power in January of this year.

His administration has started to halt deforestation projects in the Amazon in recent months. In fact, during the first six months of this year, the destruction of Amazon rainforest dropped by more than a third, according to the World Bank.

The World Bank estimates the current commercial value of the Amazon rainforest to be around $317 billion a year.

The Brazilian government has hinted that the world's largest forest could serve as a base for carbon storage projects that should enable Brazil to profit from the fast-growing global carbon credit trade.

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