Papel dos bancos de desenvolvimento no financiamento do desenvolvimento sustentável no Brasil

Abstract

This paper aims to analyze the issues surrounding sustainable development financing, with a focus on the role and contribution of development banks. To achieve this, the article aims to make two contributions: on the one hand, to develop a heterodox theoretical framework, including elements of the post-Keynesian, neo-Schumpeterian, and Hirschmanian approaches, that contributes for the analysis of sustainable development financing; on the other hand, to examine the experience of some development banks in Brazil – BNDES, BDMG, and BNB – in providing financial support to sustainable programs and projects. The paper argues that the private financial system alone cannot mobilize resources sufficiently and under suitable conditions to support the green transition. Therefore, the involvement of the State, as a planner, and particularly development banks, as the financial arm of public policies focused on socio-environmental and economic sustainability, is deemed necessary.