For 15 days, more than 35,000 representatives of governments, the civil society and the private sector gathered at the UNFCCC COP27

FUNBIO, a founding member of RedLAC, was present at the conference, and participated in debates and announced support for new projects that will contribute to curbing global warming and biodiversity conservation.

“For the first time at a UNFCCC COP we see climate and biodiversity issues being discussed together. These are intrinsic agendas and, at last, there was a clear joint approach to these matters”, says Rosa Lemos de Sá, CEO of FUNBIO.

Together with BNDES, the Brazilian National Bank of Development, and Petrobras, FUNBIO announced the first call for proposals for Floresta Viva. Over the next seven years, Floresta Viva, a BNDES initiative, will allocate more than R$ 500 million (almost USD 100 million) to the recovery of the country’s native vegetation. “Mangroves of Brazil”, the first call for proposals, has Petrobras as partner, and will allocate R$ 44 million (USD 9 million) to the restoration of mangroves. In 2022, FUNBIO was selected as financial manager for Floresta Viva.

Also at COP27, the Gordon and Betty Moore Foundation announced support for a new initiative by the Eastern Amazon Fund (FAO) aimed primarily at quilombola communities in Pará.

The Foundation will commit over USD 3 million to the project. The announcement was celebrated at the event “FAO: innovation and opportunities for climate finance in Pará”, at the hub of the Consórcio Amazônia Legal (The Legal Amazon Consortium), which brought together the nine governments of the Legal Amazon.

FAO is a private fund with a public purpose, created by the government of Pará, the second largest state in Brazil.  With 1,25 million square kilometers, Pará´s territory is larger than Portugal, Spain, UK and Germany combined. FAO´s priorities include fight against illegal deforestation and reduction of greenhouse gas emissions. FUNBIO is FAO´s financial manager.

By invitation of Enduring Earth, FUNBIO presented ARPA’s pioneering PFP in a women-led conversation mediated by Zdenka Piskulich, managing director of Enduring Earth and a former RedLAC leader in Costa Rica. ARPA celebrated 20 years in 2022 and is now an example of long-term financing. It contributes to the effective protection of more than 120 conservation units in the Brazilian Amazon biome and has prevented the emission of tons of carbon in the last decades.