Mark S. Langevin, senior advisor at Horizon Engage: “The announced sustainable bond tender mirrors last month’s rollout of the New Growth Acceleration Program (Novo PAC), but with a greater focus on achieving the United Nations’ Sustainable Development Goals in Brazil. President Lula has reasserted Brazil’s standing in global environmental governance by rapidly curbing deforestation, rebooting the Amazon and Climate Funds, and securing the right to host the United Nations Climate Conference in 2025 (COP30). Also, the timing of the bond offer dovetails with the finance ministry’s so-called ecological transition program, which aims to wrap new spending programs around a broader low-carbon development push, including the Amazon Fund’s recent disbursement of $120 million for Amazon cities to curb deforestation and fight forest fires. The finance ministry hopes the proposed tender will bring in $2 billion to spend on solar and wind power, biofuel and sustainable aviation fuel production and co-generation, green hydrogen, electrification of public transport, energy efficiency programs and sustainable extractive activities in the Amazon. Ministry officials have confirmed that…”