Bancos de desenvolvimento e financiamento do desenvolvimento sustentável : o caso do BNDES no período 2015-2021

Abstract

National Development Banks (NDBs) constitute significant agents of public policy, with their role as a source of development financing reevaluated in the post-2008 Great Recession era. In the case of Brazil, BNDES, being one of the largest NDBs globally, had its prominence in the Brazilian economy challenged due to the ongoing debate about the presence of the State in economic activity. This current article aims to assess the performance of NDBs in sustainable development financing, specifically focusing on the Brazilian case. BNDES, one of the key national agents in promoting sustainable development financing, acted counter-cyclically in a fundamental way during the severe crisis that began in 2014, embodying its Environmental Responsibility Policy. The Climate Fund, with investments concentrated in infrastructure and electric power, reveals the bank's importance in achieving Sustainable Development Goals in the country.