Conrado Krivochein, Carmem Feijó, and Fernanda Feil wrote a new op-ed (in Portuguese) about the challenge of financing a sustainable green transition as the main subject to be discussed in COP 30 at Belém, Pará, Brazil, in November 2025. In their view, given that the green transition involves more uncertain returns, public investment should take the initial lead, creating the conditions for private investment to expand in subsequent stages. In this sense, it is crucial to reclaim the distinction between current budgets and capital budgets. At COP 30, more than climate targets, what will be at stake is the narrative of how and who will finance the transformation—that is, whether through the power of markets or through coordinated government action. Brazil, with its environmental wealth and capacity for innovation, is perfectly positioned to lead this process.
Access the article here (in Portuguese only)