On March 2018, the project ‘Green Finance and the Transformation of Rural Property in Brazil: Building New Theoretical and Empirical Knowledge‘ was launched as a two-years partnership between representatives of the the University of Bristol and the Federal University of São Paulo (UNIFESP), developed with the support of the British Academy and of the Newton Fund – by the Newton Advanced Fellowship 2017 RD3 scheme.
After the commitment of both public and private actors on Paris Agreement on Climate Change, Brazil seeks recognition as an attractive destination for green capitals . On the one hand, international development banks, private banks and governments have increasingly recognized green financial instruments as a strategic alternative to public funding for achieving sustainable development. On the other, the impact of this new financial logic on local communities and property transformations has been denounced by activist groups and social movements. In both cases, green bonds and their mechanisms and effects have been significantly understudied.
In this context, the research group, coordinate by Dr. Iagê Zendron Miola (UNIFESP) and Dr. Tomaso Ferrando (University of Bristol), intends to set the basis for the elaboration of a theoretical and practical understanding of what may be local implications of the expansion of green finance, especially green bonds, in Brazil.
Therefore, the research team went to Bristol and London in July 2018 for a training program with professors and specialists in the area of finance and development.
In particular, the training was attended by four Brazilian academics who had the opportunity to engage with a academics from the University of Bristol, University of Warwick, Exeter, Glasgow and City University of London, lawyers, NGOs working on carbon credits and accounting, representatives of the financial world, certifying organizations and other stakeholders who are working in the area of Green Bonds and Green Finance.
The skills and knowledge gathered during the training represent the departing point for local trainings that will take place in Brazil, whose aim is to favour knowledge transfer, identify case studies, foster stakeholders’ engagement and contribute to the dissemination of high-level academic research. The goal is to produce solid and relevant research that will help Brazilian academics, policymakers, and civil society members to strengthen their understanding of the market for green bonds, and in particular of its regulatory framework, opportunities, risks and impacts on property regimes and, more generally, sustainable economic development and welfare.
This research project takes part in the project Properties in Transformation and seeks to contribute to the reflexions around property. The ongoing financialization of nature and land fits in the context of a global redefinition of property and construction of a new political economy that combines notions of green, development, financial return and environmental, social and governance standards.