Participations and investments
BNDES's capital market initiatives can play a catalytic role in mobilizing private resources for sustainable investments, through financial alternatives such as direct equity participations, co-investments, and structured funds focused on bioeconomy, restoration, and sustainable use of native forests. By acting as an anchor investor and structuring agent, the Bank contributes to reducing risks, improving governance, and attracting institutional capital for theses related to the green economy, encouraging low-carbon production chains, biodiversity-based innovation, and business models that reconcile income generation, environmental conservation, and intelligent exploitation of forest assets, expanding the scale and impact of solutions aligned with sustainable development.
In this context, the green agenda was defined as a priority guideline in BNDES's strategy for operating in variable income, both in direct investments and through investment funds. A concrete example of this is the Climate Call, which aims to boost decarbonization projects and the sustainable use of natural resources, through the structuring of investment funds specifically focused on achieving this sustainability agenda. Through this initiative, BNDESPAR commits to investing up to R$ 1 billion in funds aimed at implementing large-scale forest restoration and conservation projects in priority biomes, inaugurating a model that combines bioeconomy and green infrastructure in long-term financial instruments.
In addition to the Climate Call, in November 2025 the Bank approved an investment of BRL 300 million in the BTG Pactual reforestation fund, managed by its subsidiary Timberland Investment Group, one of the largest and oldest organizations managing investments in forest assets in the world. Of the total area to be restored, 50% will be done through planting and conserving native forests.