Análise das emissões de títulos verdes no setor de energia no Brasil

Abstract

This work performs an analysis of the role of the Brazilian energy sector in the domestic market of Green Bonds, based on a survey and consolidation of available data - issue date, value, term, interest rate (spread), type of financial product (debentures, agribusiness receivables certificates, real estate receivables certificates, receivables investment fund, financial bills and promissory notes) and allocation of resources – by renowned financial institutions, such as: ANBIMA, B3, FEBRABAN, CBI, CEBDS, VÓRTX Distribuidora de Títulos e Valores Mobiliários Ltda., Oliveira Trust Distribuidora de Títulos e Valores Mobiliários S.A., True Securitizadora S.A., Pentágono S/A DTVM, Simplific Pavarini DTVM LTDA. and SITAWI, for example. Bearing in mind the need for a better understanding of the context in which green bonds are inserted, this research was introduced from an analysis of the global climate crisis, which becomes necessary not only an immediate transformation with the increase and acceleration of mitigation and climate adaptation measures, but also the development of credit strategies through the transformation of the financial system, in order to guide the flow of capital in prioritizing sustainability projects. Faced with the Brazilian political and economic scenario, a deficit of public investment was verified in opposition to the greater demand in infrastructure and the expansion of the commitments assumed in the Determined National Contribution (NDC) in more ambitious goals. It was found that, even though there are still operational and specific challenges in its implementation, the national green bond market is driven by the energy sector – leader in raising the necessary resources to be invested in projects or assets that provide environmental benefits to the environment, such as wind farms, solar plants, biofuel production, among others.