IDB And Brazilian Banks Announce Development Of Amazon Rainforest ETF
By Reuters
July 26, 2024 at 10:00:00 AM
FILE PHOTO: Ilan Goldfajn, President of the Inter-American Development Bank speaks at the EU-LAC 2023 Business Round Table at the European Commission headquarters on the day of the EU-CELAC summit, in Brussels, Belgium July 17, 2023. REUTERS/Yves Herman/File Photo
RIO DE JANEIRO (Reuters) - The Inter-American Development Bank and Brazilian public banks BNDES, Banco do Brasil and Caixa Economica Federal announced on Thursday they will jointly develop an exchange-traded fund (ETF) focused on sustainable investments in the Amazon rainforest.
The proposal, first reported by Reuters on Wednesday, aims to launch the ETF in capital markets before the COP30 climate conference in the Brazilian city of Belem next year, said IDB President Ilan Goldfajn, speaking on the sidelines of a gathering of G20 finance leaders in Rio de Janeiro.
(Reporting by Marcela Ayres; Editing by Brad Haynes)
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