CAR a CAR: As Instituições Financeiras e o Crédito para Propriedades com Desmatamento

The report finds that 36% of subsidized rural credit in Brazil between 2020 and 2024 was directed to properties that deforested after 2009. Public banks and credit cooperatives are the primary providers of this credit, with some institutions showing high levels of exposure to deforesting properties. The authors argue for a complete dissociation of subsidized credit from any form of deforestation to meet Brazil's 2030 climate goals.

• Between 2020 and 2024, 36% of the volume of subsidized rural credit contracted was allocated to properties that recorded deforestation after 2009, totaling R$ 205.6 billion out of R$ 567.7 billion for properties with an associated CAR.
• Public banks and credit cooperatives are the dominant sources of subsidized credit for deforesting properties, accounting for 91% of the volume (R$ 43.4 billion) of such credit between August 2023 and July 2024.
• Specific financial institutions showed high proportions of subsidized rural credit associated with deforestation in 2024: Banco da Amazônia (70.8%), Rabobank (63%), Banco do Nordeste (51.9%), Caixa Econômica (49%), Banrisul (48%), Itaú (48%), Banco do Brasil (36%), and Santander (36%).
• Deforestation occurs both before and after the granting of credit; for credit granted in 2020, 20% of properties deforested only before, 12% both before and after, and 3% only after the operation.
• The volume of subsidized resources destined for properties with deforestation grew by 56% between 2020 and 2024, increasing from R$ 30.6 billion to R$ 47.6 billion.
• Current rural credit regulations primarily rely on environmental embargoes to restrict credit, but this mechanism captures only a small portion of deforestation, with less than 5% of new deforestation areas being embargoed in recent years.

APA

Souza, P., Stussi, M., Mourão, J., & Oliveira, W. (2024). CAR a CAR: As Instituições Financeiras e o Crédito para Propriedades com Desmatamento. Climate Policy Initiative. https://www.climatepolicyinitiative.org/wp-content/uploads/2024/12/CAR-a-CAR-As-Instituicoes-Financeiras-e-o-Credito-para-Propriedades-com-Desmatamento.pdf

Chicago

Souza, Priscila, Mariana Stussi, João Mourão, and Wagner Oliveira. CAR a CAR: As Instituições Financeiras e o Crédito para Propriedades com Desmatamento. Climate Policy Initiative, 2024. https://www.climatepolicyinitiative.org/wp-content/uploads/2024/12/CAR-a-CAR-As-Instituicoes-Financeiras-e-o-Credito-para-Propriedades-com-Desmatamento.pdf.

Wikipedia

{{cite report |last1=Souza |first1=Priscila |last2=Stussi |first2=Mariana |last3=Mourão |first3=João |last4=Oliveira |first4=Wagner |title=CAR a CAR: As Instituições Financeiras e o Crédito para Propriedades com Desmatamento |publisher=Climate Policy Initiative |date=December 2024 |url=https://www.climatepolicyinitiative.org/wp-content/uploads/2024/12/CAR-a-CAR-As-Instituicoes-Financeiras-e-o-Credito-para-Propriedades-com-Desmatamento.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{souza2024car, author = {Souza, Priscila and Stussi, Mariana and Mourão, João and Oliveira, Wagner}, title = {{CAR a CAR: As Instituições Financeiras e o Crédito para Propriedades com Desmatamento}}, institution = {Climate Policy Initiative}, year = {2024}, month = dec, url = {https://www.climatepolicyinitiative.org/wp-content/uploads/2024/12/CAR-a-CAR-As-Instituicoes-Financeiras-e-o-Credito-para-Propriedades-com-Desmatamento.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }