Brazil’s BNDES has special lines of financing for the construction of new buildings or the renovation of existing buildings, targeting development that is environmentally sustainable and efficient.

In addition, based on the Equator Principles, the Federation of Banks in 2009, executed the so-called Green Protocol with the Ministry of Environment, which included environmental efficiency as a criterion for banks to observe when financing projects. Most recently, Resolution No. 4.327/2014 issued by the Central Bank of Brazil obliged all banks operating in the country to create and implement a Policy of Social Environmental Responsibility. This is likely to have an impact on financing decisions.

Additionally, Banco Itaú BBA recently created green real estate credit, which can be offered by banks or financial institutions, and can be used to finance projects for the construction of new buildings, renovation of existing buildings or the purchase of properties already built that meet sustainability criteria. In this sense, Itaú works with the green entrepreneur plan, which offers differentiated financing conditions for commercial or residential projects certified with Excellence in Design for Greater Efficiencies (EDGE) from the International Finance Corporation (IFC) of the World Bank Group.