Os títulos verdes podem financiar a agricultura brasileira?

This briefing by the Climate Bonds Initiative and SITAWI examines the potential for green bonds to finance sustainable agriculture in Brazil. While Brazil is a global agricultural powerhouse with established government credit programs, green bond issuance in the land-use sector has been dominated by the forestry industry. The document identifies barriers for small producers and suggests that securitization of agricultural receivables (CRAs) and bank-led green bonds could expand financing for eco-efficiency, soil health, and sustainable crop production.

• Brazil's agricultural sector is a major economic driver, with agribusiness contributing 23.5% to the national GDP in 2017. In that same year, agribusiness exports reached US$96 billion, representing 44.1% of the country's total exports.
• Brazil's Nationally Determined Contributions (NDCs) under the Paris Agreement focus heavily on agriculture, forestry, and land use. Specific targets for 2030 include restoring 12 million hectares of forest, restoring 15 million hectares of degraded pastures, and converting 5 million hectares into integrated crop-livestock-forestry (ILPF) systems.
• Government-subsidized rural credit, primarily through the National Rural Credit System (SNCR) and the Plano Safra, is the main funding source, but it is underutilized for sustainable projects. Between 2010 and 2015, the Low Carbon Agriculture (ABC) program saw an average disbursement of only 42.8% of available funds.
• Small rural producers face significant barriers to accessing formal credit, including lack of interest from financial institutions, difficulties in preparing documentation (such as undefined land property rights), and long wait times for disbursement that can exceed one year.
• Green bonds in Brazil are heavily concentrated in the forestry sector. Sustainable land use accounts for 38% of the volume of Brazilian green bonds, and within that subset, the forestry subsector represents 68%. Major issuers include Suzano, Fibria, and Klabin.
• There is significant potential to expand green financing through the securitization of agricultural receivables, specifically using the Certificado de Recebíveis do Agronegócio (CRA) and Letra de Crédito do Agronegócio (LCA). CRAs reached a balance of R$31.6 billion in September 2018, while LCAs reached R$154.3 billion.
• The document identifies several categories of agricultural activities eligible for green bond financing, including eco-efficiency (biogas, energy efficiency), soil health (biofertilizers, no-till farming), sustainable sugarcane production (co-generation with bagasse), and protected agriculture (hydroponics, precision irrigation).

APA

Climate Bonds Initiative (2018). Os títulos verdes podem financiar a agricultura brasileira? https://www.climatebonds.net/files/documents/publications/43cad84e-09f5-4a7e-8c5e-061019442fd8.pdf

Chicago

Climate Bonds Initiative. Os títulos verdes podem financiar a agricultura brasileira? 2018. https://www.climatebonds.net/files/documents/publications/43cad84e-09f5-4a7e-8c5e-061019442fd8.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Os títulos verdes podem financiar a agricultura brasileira? |date=November 2018 |url=https://www.climatebonds.net/files/documents/publications/43cad84e-09f5-4a7e-8c5e-061019442fd8.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2018ttulos, author = {{Climate Bonds Initiative}}, title = {{Os títulos verdes podem financiar a agricultura brasileira?}}, institution = {Climate Bonds Initiative}, year = {2018}, month = nov, url = {https://www.climatebonds.net/files/documents/publications/43cad84e-09f5-4a7e-8c5e-061019442fd8.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }