[{"id":126070,"date":"2026-10-29T17:40:15","date_gmt":"2026-10-29T17:40:15","guid":{"rendered":"https:\/\/www.climatepolicyinitiative.org\/?post_type=cpi_publications&#038;p=126070"},"modified":"2026-10-29T17:40:17","modified_gmt":"2026-10-29T17:40:17","slug":"implementacao-do-codigo-florestal-pelos-estados-10-licoes-aprendidas","status":"publish","type":"cpi_publications","link":"https:\/\/www.climatepolicyinitiative.org\/pt-br\/publication\/implementacao-do-codigo-florestal-pelos-estados-10-licoes-aprendidas\/","title":{"rendered":"Implementa\u00e7\u00e3o do C\u00f3digo Florestal pelos Estados: 10 Li\u00e7\u00f5es Aprendidas"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">O C\u00f3digo Florestal constitui a principal pol\u00edtica p\u00fablica nacional para a prote\u00e7\u00e3o de florestas e demais formas de vegeta\u00e7\u00e3o nativa em im\u00f3veis rurais. Al\u00e9m de estabelecer regras para sua conserva\u00e7\u00e3o e uso, a lei cria instrumentos que permitem identificar a situa\u00e7\u00e3o ambiental dos im\u00f3veis rurais e acompanhar o cumprimento das obriga\u00e7\u00f5es. Essas informa\u00e7\u00f5es ampliam a capacidade de gest\u00e3o ambiental e podem apoiar o planejamento do uso da terra, a formula\u00e7\u00e3o de pol\u00edticas p\u00fablicas e decis\u00f5es relacionadas \u00e0s atividades econ\u00f4micas e ao meio ambiente. Nesse contexto, a lei \u00e9 fundamental para conciliar a produ\u00e7\u00e3o agropecu\u00e1ria com a conserva\u00e7\u00e3o ambiental.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Colocar esse conjunto de regras e mecanismos em funcionamento constitui um enorme esfor\u00e7o de gest\u00e3o, envolvendo milh\u00f5es de im\u00f3veis rurais, m\u00faltiplas bases de dados territoriais, dezenas de \u00f3rg\u00e3os p\u00fablicos e diferentes n\u00edveis de governo.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Embora estabele\u00e7a um marco legal nacional, o C\u00f3digo Florestal \u00e9 implementado de forma descentralizada, e os estados desempenham fun\u00e7\u00f5es centrais nesse processo. Ao longo de mais de uma d\u00e9cada, eles seguiram trajet\u00f3rias distintas, adotando diferentes arranjos institucionais, procedimentos e estrat\u00e9gias para implementar o Cadastro Ambiental Rural (CAR) e o Programa de Regulariza\u00e7\u00e3o Ambiental (PRA).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Desde 2019, pesquisadoras do Climate Policy Initiative\/Pontif\u00edcia Universidade Cat\u00f3lica do Rio de Janeiro (CPI\/PUC-Rio) acompanham a implementa\u00e7\u00e3o do C\u00f3digo Florestal nos estados.<\/strong> A cada ano, o relat\u00f3rio <em>Onde Estamos na Implementa\u00e7\u00e3o do C\u00f3digo Florestal: Radiografia do CAR e do PRA nos Estados Brasileiros<\/em> registra os principais avan\u00e7os, mudan\u00e7as e desafios observados no per\u00edodo. <strong>Esta publica\u00e7\u00e3o prop\u00f5e um olhar diferente: re\u00fane o conhecimento acumulado ao longo desses anos para extrair das trajet\u00f3rias estaduais dez li\u00e7\u00f5es sobre o que favorece, limita ou condiciona o avan\u00e7o da implementa\u00e7\u00e3o e sobre como diferentes estrat\u00e9gias t\u00eam respondido a esses desafios.<\/strong> As li\u00e7\u00f5es foram discutidas e validadas com gestores e t\u00e9cnicos estaduais em <em>webinar<\/em> promovido pelo CPI\/PUC-Rio em setembro de 2026.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Cada li\u00e7\u00e3o parte de um desafio concreto da implementa\u00e7\u00e3o e utiliza experi\u00eancias estaduais para identificar estrat\u00e9gias, condi\u00e7\u00f5es e escolhas que influenciaram os resultados alcan\u00e7ados. Sistematizar esses aprendizados permite que solu\u00e7\u00f5es e experi\u00eancias desenvolvidas por alguns estados sirvam de refer\u00eancia para outros que enfrentam desafios semelhantes e oferece evid\u00eancias para orientar a implementa\u00e7\u00e3o do C\u00f3digo Florestal nos pr\u00f3ximos anos. As li\u00e7\u00f5es identificadas podem, ainda, contribuir para o desenho e a implementa\u00e7\u00e3o de outras pol\u00edticas p\u00fablicas ambientais e de uso da terra em larga escala.<\/p>\n\n\n\n<!-- BLOCO 1: substitui o t\u00edtulo \"10 Li\u00e7\u00f5es Aprendidas\" e os dez par\u00e1grafos seguintes. -->\n<style>\n\/* Os estilos ficam restritos a este bloco; o texto herda a tipografia do site. *\/\n#cpi-cf-lessons {\n  background: #e0e4dd;\n  padding: clamp(1rem, 4vw, 2rem);\n  margin: 2em 0;\n  color: inherit;\n  font-family: inherit;\n  font-size: inherit;\n  line-height: inherit;\n}\n#cpi-cf-lessons > h2.wp-block-heading {\n  color: #b43c36;\n  font-family: \"Whitney A\", \"Whitney B\" !important;\n  font-size: 1.3rem;\n  line-height: 1.6rem;\n  font-weight: 900;\n  text-transform: uppercase;\n  margin-top: 0;\n  margin-bottom: 1em;\n}\n#cpi-cf-lessons > h2.wp-block-heading > strong {\n  font: inherit;\n  color: inherit;\n}\n@media screen and (max-width: 480px) {\n  #cpi-cf-lessons > h2.wp-block-heading {\n    font-size: 1rem;\n    line-height: 1.25rem;\n  }\n}\n#cpi-cf-lessons > ol {\n  list-style: none;\n  padding: 0;\n  margin: 0;\n}\n#cpi-cf-lessons > ol > li {\n  display: grid;\n  grid-template-columns: 1.8em minmax(0, 1fr);\n  gap: .65em;\n  padding: 0;\n  margin: 0 0 1.35em;\n}\n#cpi-cf-lessons > ol > li:last-child { margin-bottom: 0; }\n#cpi-cf-lessons .cpi-cf-number {\n  font-family: inherit;\n  font-size: 1.6em;\n  font-weight: 300;\n  line-height: 1;\n  text-align: right;\n  padding-top: .08em;\n  font-variant-numeric: tabular-nums;\n}\n#cpi-cf-lessons li > p.wp-block-paragraph {\n  margin: 0;\n  padding: 0;\n  font-family: inherit;\n  font-size: inherit;\n  line-height: inherit;\n  color: inherit;\n}\n@media (max-width: 480px) {\n  #cpi-cf-lessons > ol > li { grid-template-columns: 1.5em minmax(0, 1fr); gap: .5em; }\n}\n<\/style>\n<section id=\"cpi-cf-lessons\" aria-labelledby=\"cpi-cf-lessons-title\">\n  <h2 id=\"cpi-cf-lessons-title\" class=\"wp-block-heading\"><strong>10 Li\u00e7\u00f5es Aprendidas<\/strong><\/h2>\n  <ol role=\"list\">\n    <li><span class=\"cpi-cf-number\" aria-hidden=\"true\">1<\/span><p class=\"wp-block-paragraph\"><strong>Investir na qualidade da informa\u00e7\u00e3o no cadastramento acelera a implementa\u00e7\u00e3o.<\/strong><br>Qualificar as informa\u00e7\u00f5es do CAR desde sua inser\u00e7\u00e3o no sistema reduz erros, retrabalho e custos posteriores em tempo, recursos e capacidade t\u00e9cnica.<\/p><\/li>\n    <li><span class=\"cpi-cf-number\" aria-hidden=\"true\">2<\/span><p class=\"wp-block-paragraph\"><strong>Infraestruturas compartilhadas reduzem custos de implementa\u00e7\u00e3o.<\/strong><br>Compartilhar sistemas, ferramentas e outros componentes da infraestrutura evita a duplica\u00e7\u00e3o de investimentos e reduz a necessidade de desenvolver e manter capacidades t\u00e9cnicas semelhantes em cada estado.<\/p><\/li>\n    <li><span class=\"cpi-cf-number\" aria-hidden=\"true\">3<\/span><p class=\"wp-block-paragraph\"><strong>Automa\u00e7\u00e3o \u00e9 necess\u00e1ria, mas insuficiente.<\/strong><br>A automa\u00e7\u00e3o amplia a capacidade de an\u00e1lise do CAR, mas n\u00e3o garante a conclus\u00e3o dos processos e a valida\u00e7\u00e3o dos cadastros. Seus resultados dependem tamb\u00e9m das regras e procedimentos adotados e da capacidade da infraestrutura tecnol\u00f3gica.<\/p><\/li>\n    <li><span class=\"cpi-cf-number\" aria-hidden=\"true\">4<\/span><p class=\"wp-block-paragraph\"><strong>Implementar em escala exige inova\u00e7\u00e3o, combina\u00e7\u00e3o e adapta\u00e7\u00e3o de estrat\u00e9gias.<\/strong><br>Os desafios mudam \u00e0 medida que a implementa\u00e7\u00e3o do C\u00f3digo Florestal avan\u00e7a, e estrat\u00e9gias capazes de produzir resultados em determinado momento podem se tornar insuficientes diante de novos gargalos e demandas. Avan\u00e7ar em escala exige capacidade para criar novas solu\u00e7\u00f5es e modificar ou combinar aquelas j\u00e1 adotadas.<\/p><\/li>\n    <li><span class=\"cpi-cf-number\" aria-hidden=\"true\">5<\/span><p class=\"wp-block-paragraph\"><strong>Implementa\u00e7\u00e3o \u00e9 um fluxo cont\u00ednuo.<\/strong><br>Inscri\u00e7\u00e3o, an\u00e1lise e valida\u00e7\u00e3o do CAR, e ades\u00e3o e monitoramento do PRA s\u00e3o etapas sucessivas e interdependentes. A capacidade estatal precisa ser planejada considerando o fluxo completo da implementa\u00e7\u00e3o e a demanda que o avan\u00e7o de uma etapa produzir\u00e1 sobre as demais.<\/p><\/li>\n    <li><span class=\"cpi-cf-number\" aria-hidden=\"true\">6<\/span><p class=\"wp-block-paragraph\"><strong>N\u00e3o existe bala de prata.<\/strong><br>Dependendo da magnitude e da heterogeneidade da base cadastral, a implementa\u00e7\u00e3o pode exigir a ado\u00e7\u00e3o simult\u00e2nea de diferentes estrat\u00e9gias.<\/p><\/li>\n    <li><span class=\"cpi-cf-number\" aria-hidden=\"true\">7<\/span><p class=\"wp-block-paragraph\"><strong>Estados aprendem com estados.<\/strong><br>Solu\u00e7\u00f5es j\u00e1 desenvolvidas e testadas por um estado podem ser adaptadas a diferentes contextos, permitindo aproveitar experi\u00eancias acumuladas na implementa\u00e7\u00e3o do C\u00f3digo Florestal, em vez de construir novas respostas a partir do zero ou enfrentar isoladamente problemas j\u00e1 conhecidos.<\/p><\/li>\n    <li><span class=\"cpi-cf-number\" aria-hidden=\"true\">8<\/span><p class=\"wp-block-paragraph\"><strong>Seguran\u00e7a jur\u00eddica importa.<\/strong><br>Regras claras, est\u00e1veis e previs\u00edveis s\u00e3o necess\u00e1rias durante todo o processo de implementa\u00e7\u00e3o do C\u00f3digo Florestal para orientar decis\u00f5es de atores p\u00fablicos e privados, criar condi\u00e7\u00f5es para que a pol\u00edtica avance e sustentar os resultados alcan\u00e7ados ao longo do tempo.<\/p><\/li>\n    <li><span class=\"cpi-cf-number\" aria-hidden=\"true\">9<\/span><p class=\"wp-block-paragraph\"><strong>Comunica\u00e7\u00e3o eficaz \u00e9 parte da implementa\u00e7\u00e3o.<\/strong><br>A operacionaliza\u00e7\u00e3o do C\u00f3digo Florestal depende da participa\u00e7\u00e3o de milh\u00f5es de propriet\u00e1rios e possuidores rurais. Alcan\u00e7\u00e1-los, orient\u00e1-los sobre as provid\u00eancias necess\u00e1rias e obter sua resposta \u00e9 essencial para que os cadastros avancem da an\u00e1lise \u00e0 valida\u00e7\u00e3o e \u00e0 regulariza\u00e7\u00e3o ambiental.<\/p><\/li>\n    <li><span class=\"cpi-cf-number\" aria-hidden=\"true\">10<\/span><p class=\"wp-block-paragraph\"><strong>Na Amaz\u00f4nia, a quest\u00e3o fundi\u00e1ria limita a implementa\u00e7\u00e3o.<\/strong><br>Implementar o C\u00f3digo Florestal em escala exige mais do que infraestrutura, tecnologia e melhorias nos procedimentos do CAR e do PRA. Esse resultado depende tamb\u00e9m de maior articula\u00e7\u00e3o entre as pol\u00edticas e os \u00f3rg\u00e3os respons\u00e1veis pelas agendas ambiental e fundi\u00e1ria.<\/p><\/li>\n  <\/ol>\n<\/section>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Implementar o C\u00f3digo Florestal: um Processo em Evolu\u00e7\u00e3o<\/strong><\/h2>\n\n\n\n<!-- BLOCO 2: substitui SOMENTE o primeiro par\u00e1grafo abaixo de\n\"Implementar o C\u00f3digo Florestal: um Processo em Evolu\u00e7\u00e3o\". Mantenha o t\u00edtulo existente. -->\n<style>\n\/* Corrige os estilos de bot\u00e3o do tema sem mudar os estilos do par\u00e1grafo. *\/\n#cpi-cf-intro .cpi-cf-term {\n  display: inline;\n  appearance: none;\n  background: none;\n  border: 0;\n  border-radius: 0;\n  box-shadow: none;\n  padding: 0;\n  margin: 0;\n  max-width: 100%;\n  min-width: 0;\n  min-height: 0;\n  width: auto;\n  height: auto;\n  \/* O tema aplica color: white !important a todos os bot\u00f5es. *\/\n  color: inherit !important;\n  font-family: inherit !important;\n  font-size: inherit;\n  font-weight: inherit !important;\n  font-style: inherit;\n  line-height: inherit;\n  letter-spacing: inherit;\n  text-transform: none;\n  text-align: left;\n  white-space: normal;\n  vertical-align: baseline;\n  text-decoration: underline dotted;\n  text-underline-offset: .18em;\n  cursor: help;\n}\n#cpi-cf-intro .cpi-cf-term::before,\n#cpi-cf-intro .cpi-cf-term::after { content: none; }\n#cpi-cf-intro .cpi-cf-term:focus-visible {\n  outline: 2px solid #b43c36;\n  outline-offset: 3px;\n}\n#cpi-cf-intro .cpi-cf-definition {\n  box-sizing: border-box;\n  position: fixed;\n  width: min(23em, calc(100vw - 32px));\n  max-height: calc(100dvh - 32px);\n  overflow-y: auto;\n  padding: 1em 1.1em;\n  margin: auto;\n  background: #fff;\n  color: inherit;\n  border: 1px solid #dfe0e0;\n  border-left: 3px solid #b43c36;\n  border-radius: 0;\n  box-shadow: 0 5px 24px rgb(0 0 0 \/ 16%);\n  font-family: inherit;\n  font-size: inherit;\n  line-height: inherit;\n  text-align: left;\n}\n#cpi-cf-intro .cpi-cf-definition.cpi-cf-positioned { inset: auto; margin: 0; }\n#cpi-cf-intro .cpi-cf-definition > strong { display: block; margin-bottom: .4em; }\n\/* Navegadores antigos mostram as explica\u00e7\u00f5es abaixo do par\u00e1grafo. *\/\n@supports not selector(:popover-open) {\n  #cpi-cf-intro .cpi-cf-definition { position: static; width: auto; margin: 1em 0; max-height: none; }\n}\n@media print {\n  #cpi-cf-intro .cpi-cf-definition {\n    display: block !important;\n    position: static !important;\n    width: auto;\n    max-height: none;\n    margin: 1em 0;\n    box-shadow: none;\n    overflow: visible;\n  }\n}\n<\/style>\n<div id=\"cpi-cf-intro\">\n  <p class=\"wp-block-paragraph\">O C\u00f3digo Florestal estabelece regras para a conserva\u00e7\u00e3o da vegeta\u00e7\u00e3o nativa nos im\u00f3veis rurais, especialmente em <strong><button type=\"button\" class=\"cpi-cf-term\" popovertarget=\"cpi-cf-app-definition\" aria-describedby=\"cpi-cf-app-definition\">\u00c1reas de Preserva\u00e7\u00e3o Permanente (APPs)<\/button><\/strong> e <strong><button type=\"button\" class=\"cpi-cf-term\" popovertarget=\"cpi-cf-rl-definition\" aria-describedby=\"cpi-cf-rl-definition\">Reserva Legal<\/button><\/strong>. Para implementar essas regras em milh\u00f5es de im\u00f3veis, a lei criou dois instrumentos centrais: o <strong>Cadastro Ambiental Rural (CAR)<\/strong> e o <strong>Programa de Regulariza\u00e7\u00e3o Ambiental (PRA)<\/strong>.<\/p>\n  <div id=\"cpi-cf-app-definition\" class=\"cpi-cf-definition\" popover=\"auto\" role=\"tooltip\">\n    <strong>\u00c1rea de Preserva\u00e7\u00e3o Permanente (APP)<\/strong>\n    \u00c1rea protegida por sua localiza\u00e7\u00e3o e caracter\u00edsticas, vegeta\u00e7\u00e3o desempenha fun\u00e7\u00f5es importantes para a prote\u00e7\u00e3o dos recursos h\u00eddricos, estabilidade do solo, regula\u00e7\u00e3o do clima, entre outras. Inclui, por exemplo, \u00e1reas \u00e0s margens de rios, no entorno de nascentes e em encostas \u00edngremes.\n  <\/div>\n  <div id=\"cpi-cf-rl-definition\" class=\"cpi-cf-definition\" popover=\"auto\" role=\"tooltip\">\n    <strong>Reserva Legal<\/strong>\n    Parcela que deve ser mantida com cobertura de vegeta\u00e7\u00e3o nativa, em percentual que varia de 20% a 80% da \u00e1rea do im\u00f3vel, conforme sua localiza\u00e7\u00e3o. Seu objetivo \u00e9 assegurar a conserva\u00e7\u00e3o dos diferentes biomas brasileiros. Diferente da APP, a Reserva Legal admite o uso econ\u00f4mico sustent\u00e1vel dos recursos naturais.\n  <\/div>\n<\/div>\n<script>\n(() => {\n  const root = document.getElementById('cpi-cf-intro');\n  if (!root || root.dataset.cpiReady || !('showPopover' in HTMLElement.prototype)) return;\n  root.dataset.cpiReady = 'true';\n  root.querySelectorAll('.cpi-cf-term').forEach(button => {\n    const tip = document.getElementById(button.getAttribute('popovertarget'));\n    let pinned = false;\n    let timer;\n    let pointerFocus = false;\n    const isOpen = () => tip.matches(':popover-open');\n    const position = () => {\n      if (!isOpen()) return;\n      tip.classList.add('cpi-cf-positioned');\n      const anchor = button.getBoundingClientRect();\n      const gap = 8;\n      const edge = 16;\n      const width = document.documentElement.clientWidth;\n      const height = window.innerHeight;\n      const box = tip.getBoundingClientRect();\n      const left = Math.max(edge, Math.min(anchor.left, width - box.width - edge));\n      let top = anchor.bottom + gap;\n      if (top + box.height > height - edge) top = anchor.top - gap - box.height;\n      top = Math.max(edge, Math.min(top, height - box.height - edge));\n      tip.style.left = `${left}px`;\n      tip.style.top = `${top}px`;\n    };\n    const show = () => {\n      clearTimeout(timer);\n      if (!isOpen()) tip.showPopover();\n      position();\n    };\n    const hide = () => {\n      clearTimeout(timer);\n      if (isOpen()) tip.hidePopover();\n      pinned = false;\n    };\n    const scheduleHide = () => {\n      clearTimeout(timer);\n      timer = setTimeout(() => {\n        if (!pinned && !button.matches(':focus-visible')) hide();\n      }, 180);\n    };\n    button.addEventListener('pointerenter', event => {\n      if (event.pointerType === 'mouse') show();\n    });\n    button.addEventListener('pointerleave', scheduleHide);\n    tip.addEventListener('pointerenter', () => clearTimeout(timer));\n    tip.addEventListener('pointerleave', scheduleHide);\n    button.addEventListener('pointerdown', () => { pointerFocus = true; });\n    button.addEventListener('focus', () => { if (!pointerFocus) show(); });\n    button.addEventListener('blur', () => { pointerFocus = false; hide(); });\n    button.addEventListener('click', event => {\n      event.preventDefault();\n      pointerFocus = false;\n      if (pinned && isOpen()) hide();\n      else { show(); pinned = true; }\n    });\n    tip.addEventListener('toggle', () => {\n      if (isOpen()) position();\n      else { pinned = false; clearTimeout(timer); }\n    });\n    window.addEventListener('resize', position);\n    window.addEventListener('scroll', position, { passive: true, capture: true });\n  });\n})();\n<\/script>\n\n\n\n<p class=\"wp-block-paragraph\">O CAR \u00e9 um cadastro obrigat\u00f3rio e autodeclarat\u00f3rio que re\u00fane informa\u00e7\u00f5es ambientais georreferenciadas sobre cada im\u00f3vel rural, como per\u00edmetro, APP, Reserva Legal, remanescentes de vegeta\u00e7\u00e3o nativa e \u00e1reas rurais consolidadas. Ele permite identificar eventuais passivos em APP e Reserva Legal, isto \u00e9, \u00e1reas que precisam ser regularizadas para atender \u00e0s exig\u00eancias de conserva\u00e7\u00e3o da vegeta\u00e7\u00e3o nativa previstas na lei. O PRA, por sua vez, estabelece as condi\u00e7\u00f5es e os compromissos para a regulariza\u00e7\u00e3o ambiental do im\u00f3vel, que pode ocorrer por meio de recomposi\u00e7\u00e3o ou regenera\u00e7\u00e3o natural e, nos casos admitidos pela legisla\u00e7\u00e3o, compensa\u00e7\u00e3o.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A implementa\u00e7\u00e3o desses instrumentos percorre um fluxo de quatro etapas principais. Primeiro, \u00e9 obrigat\u00f3ria a <strong>inscri\u00e7\u00e3o no CAR<\/strong> de todos os im\u00f3veis rurais por seus propriet\u00e1rios ou possuidores. Segundo, o \u00f3rg\u00e3o competente realiza a <strong>an\u00e1lise e valida\u00e7\u00e3o<\/strong> <strong>das informa\u00e7\u00f5es declaradas no CAR<\/strong>, verifica sua consist\u00eancia e identifica eventuais passivos ambientais. Quando s\u00e3o necess\u00e1rias corre\u00e7\u00f5es, informa\u00e7\u00f5es adicionais ou outras provid\u00eancias, o propriet\u00e1rio ou possuidor \u00e9 notificado e o cadastro pode passar por novos ciclos de an\u00e1lise at\u00e9 a conclus\u00e3o do processo, com a sua valida\u00e7\u00e3o. Terceiro, propriet\u00e1rios e possuidores podem solicitar a <strong>ades\u00e3o ao PRA<\/strong>, caso identificados passivos ambientais abrangidos pelo programa, para promover sua regulariza\u00e7\u00e3o. Quarto, ocorre a <strong>execu\u00e7\u00e3o e monitoramento dos compromissos de regulariza\u00e7\u00e3o ambiental<\/strong>. O propriet\u00e1rio ou possuidor implementa as medidas previstas no termo de compromisso, enquanto o \u00f3rg\u00e3o competente acompanha seu cumprimento. A regulariza\u00e7\u00e3o se conclui com o cumprimento integral das obriga\u00e7\u00f5es assumidas.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Fazer esse fluxo funcionar em escala exige muito mais do que sistemas para cadastrar e analisar im\u00f3veis. A implementa\u00e7\u00e3o depende de regulamenta\u00e7\u00e3o e de procedimentos administrativos, bases de dados territoriais, infraestrutura tecnol\u00f3gica, equipes e capacidades institucionais, comunica\u00e7\u00e3o com propriet\u00e1rios e possuidores e mecanismos de coordena\u00e7\u00e3o entre diferentes \u00f3rg\u00e3os e n\u00edveis de governo.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Nos primeiros anos, os esfor\u00e7os se concentraram no desenvolvimento do Sistema Nacional de Cadastro Ambiental Rural (Sicar), infraestrutura tecnol\u00f3gica que permite receber, processar e consolidar os cadastros em escala nacional; na constru\u00e7\u00e3o da base cadastral nacional; e na regulamenta\u00e7\u00e3o dos PRA nos estados. Com o avan\u00e7o dessas agendas, o foco deslocou-se para a an\u00e1lise e a valida\u00e7\u00e3o dos cadastros. A amplia\u00e7\u00e3o da capacidade de an\u00e1lise, por sua vez, tornou mais evidente o desafio de concluir os processos, pois muitos cadastros dependem de provid\u00eancias dos pr\u00f3prios propriet\u00e1rios ou possuidores antes que possam ser validados \u2014 como corre\u00e7\u00f5es ou apresenta\u00e7\u00e3o de informa\u00e7\u00f5es adicionais.<a href=\"#_ftn1\" id=\"_ftnref1\"><sup>[1]<\/sup><\/a> Mais recentemente, ganharam relev\u00e2ncia o desafio de promover a ades\u00e3o dos produtores \u00e0 regulariza\u00e7\u00e3o dos passivos em APP e Reserva Legal e a necessidade de integrar bases ambientais e fundi\u00e1rias para qualificar as informa\u00e7\u00f5es utilizadas na an\u00e1lise dos cadastros.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Li\u00e7\u00e3o 1: Investir na Qualidade da Informa\u00e7\u00e3o no Cadastramento Acelera a Implementa\u00e7\u00e3o<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">O car\u00e1ter autodeclarat\u00f3rio do CAR foi fundamental para viabilizar a inscri\u00e7\u00e3o de milh\u00f5es de im\u00f3veis no pa\u00eds. A escala alcan\u00e7ada, contudo, trouxe um desafio para as etapas seguintes: cadastros com erros ou inconsist\u00eancias exigem corre\u00e7\u00f5es, notifica\u00e7\u00f5es e sucessivos ciclos de an\u00e1lise, aumentando o tempo e os recursos necess\u00e1rios para qualificar a base cadastral. Assim, investir na qualidade das informa\u00e7\u00f5es desde a entrada reduz retrabalho, permite construir mais rapidamente uma base confi\u00e1vel e diminui os custos das etapas seguintes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">O Esp\u00edrito Santo oferece o exemplo mais claro dessa din\u00e2mica. Desde 2013, o Instituto de Defesa Agropecu\u00e1ria e Florestal (Idaf\/ES) do estado assumiu diretamente a inscri\u00e7\u00e3o no CAR de propriet\u00e1rios e possuidores de im\u00f3veis com at\u00e9 25 hectares. N\u00e3o se tratou apenas de assist\u00eancia: nesses casos, os t\u00e9cnicos do pr\u00f3prio instituto elaboravam o cadastro, do croqui ao envio ao sistema, sem custo para o produtor. Hoje, dos 126 mil im\u00f3veis inscritos no estado, 48 mil foram cadastrados por meio dessa assist\u00eancia t\u00e9cnica.<a href=\"#_ftn2\" id=\"_ftnref2\"><sup>[2]<\/sup><\/a><sup><\/sup><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Os cadastros elaborados diretamente pelos t\u00e9cnicos do Idaf\/ES apresentam menos erros e inconsist\u00eancias do que aqueles inscritos por propriet\u00e1rios, respons\u00e1veis t\u00e9cnicos ou terceiros. Essa maior qualidade das informa\u00e7\u00f5es est\u00e1 associada ao desempenho do estado na an\u00e1lise dos cadastros. Atualmente, cerca de 60% dos cadastros do Esp\u00edrito Santo est\u00e3o validados, o maior percentual entre os estados brasileiros.<a href=\"#_ftn3\" id=\"_ftnref3\"><sup>[3]<\/sup><\/a><sup><\/sup><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A estrat\u00e9gia foi favorecida pelas caracter\u00edsticas do estado. Al\u00e9m de sua pequena extens\u00e3o territorial, mais de 90% dos im\u00f3veis rurais possuem menos de quatro m\u00f3dulos fiscais, e o Idaf\/ES mant\u00e9m escrit\u00f3rios nos 78 munic\u00edpios. Essa capilaridade permitiu ao \u00f3rg\u00e3o prestar atendimento direto aos pequenos produtores em grande parte do territ\u00f3rio estadual.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A experi\u00eancia capixaba mostra que alcan\u00e7ar escala na inscri\u00e7\u00e3o e assegurar a qualidade das informa\u00e7\u00f5es n\u00e3o s\u00e3o objetivos incompat\u00edveis. <strong>Estrat\u00e9gias de apoio ao cadastramento podem contribuir para qualificar as informa\u00e7\u00f5es desde a entrada, especialmente para p\u00fablicos com menor capacidade t\u00e9cnica, facilitando o trabalho posterior de an\u00e1lise e valida\u00e7\u00e3o.<\/strong> Esse aprendizado ganha especial relev\u00e2ncia para situa\u00e7\u00f5es em que ainda h\u00e1 necessidade de cadastramento, como os lotes individuais de assentados da reforma agr\u00e1ria e as \u00e1reas ocupadas por povos e comunidades tradicionais.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Li\u00e7\u00e3o 2: Infraestruturas Compartilhadas Reduzem Custos de Implementa\u00e7\u00e3o<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">A implementa\u00e7\u00e3o do C\u00f3digo Florestal \u00e9 descentralizada, mas isso n\u00e3o exige que cada estado desenvolva e mantenha individualmente toda a infraestrutura necess\u00e1ria \u00e0 sua execu\u00e7\u00e3o. Parte dessa infraestrutura pode ser desenvolvida e utilizada de forma compartilhada entre os entes respons\u00e1veis pela implementa\u00e7\u00e3o.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Os estados precisam dispor de sistemas de informa\u00e7\u00e3o, bases de refer\u00eancia e ferramentas capazes de apoiar a inscri\u00e7\u00e3o, a an\u00e1lise e a valida\u00e7\u00e3o dos cadastros, a regulariza\u00e7\u00e3o ambiental e o monitoramento. Sistemas pr\u00f3prios podem oferecer maior autonomia e possibilidade de atender \u00e0s peculiaridades dos estados, mas seu desenvolvimento, manuten\u00e7\u00e3o e evolu\u00e7\u00e3o exigem recursos e capacidades permanentes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A evolu\u00e7\u00e3o do Sicar mostra os benef\u00edcios de uma infraestrutura compartilhada. Inicialmente estruturado para viabilizar a inscri\u00e7\u00e3o e a consolida\u00e7\u00e3o dos cadastros em escala nacional, o sistema passou a incorporar novas ferramentas \u00e0 medida que a implementa\u00e7\u00e3o avan\u00e7ou, incluindo solu\u00e7\u00f5es para an\u00e1lise automatizada dos cadastros, regulariza\u00e7\u00e3o ambiental e operacionaliza\u00e7\u00e3o de instrumentos como a Cota de Reserva Ambiental (CRA). A disponibiliza\u00e7\u00e3o dessas ferramentas em \u00e2mbito nacional reduziu a necessidade de os estados desenvolverem e manterem individualmente solu\u00e7\u00f5es equivalentes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">O uso de sistemas e ferramentas comuns tamb\u00e9m facilita a coordena\u00e7\u00e3o entre \u00f3rg\u00e3os e n\u00edveis de governo. Solu\u00e7\u00f5es compartilhadas favorecem maior padroniza\u00e7\u00e3o de informa\u00e7\u00f5es, terminologia e funcionalidades e podem reduzir parte dos desafios de interoperabilidade de uma pol\u00edtica nacional descentralizada.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Acre, Rond\u00f4nia e Bahia mantiveram sistemas estaduais pr\u00f3prios desde os primeiros anos da implementa\u00e7\u00e3o. No Acre e em Rond\u00f4nia, os custos e desafios de adapta\u00e7\u00e3o de suas plataformas \u00e0s novas funcionalidades e exig\u00eancias determinadas por decis\u00f5es na Argui\u00e7\u00e3o de Descumprimento de Preceito Fundamental (ADPF) 743<a href=\"#_ftn4\" id=\"_ftnref4\"><sup>[4]<\/sup><\/a> <sup><\/sup>levaram esses estados a migrar para o Sicar, onde essas solu\u00e7\u00f5es est\u00e3o dispon\u00edveis nacionalmente. Na Bahia, a obsolesc\u00eancia e os custos para melhorias do seu sistema, que dificultavam a integra\u00e7\u00e3o dos dados ao Sicar, contribu\u00edram para a decis\u00e3o de mudar para o sistema federal.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>A principal li\u00e7\u00e3o dessas experi\u00eancias \u00e9 que infraestruturas compartilhadas podem reduzir os custos ao evitar a duplica\u00e7\u00e3o de investimentos e a necessidade de cada estado desenvolver, manter e atualizar individualmente solu\u00e7\u00f5es e capacidades t\u00e9cnicas semelhantes.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Li\u00e7\u00e3o 3: Automa\u00e7\u00e3o \u00e9 Necess\u00e1ria, mas Insuficiente<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Ferramentas de automa\u00e7\u00e3o s\u00e3o essenciais para analisar os cadastros em escala. Ao permitir o processamento simult\u00e2neo de grandes volumes de informa\u00e7\u00f5es, elas ampliam a capacidade dos \u00f3rg\u00e3os muito al\u00e9m do que seria poss\u00edvel apenas com an\u00e1lises manuais ou com a expans\u00e3o das equipes t\u00e9cnicas. O aumento da capacidade de an\u00e1lise, entretanto, n\u00e3o se traduz necessariamente na conclus\u00e3o dos processos e na valida\u00e7\u00e3o dos cadastros.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">No Cear\u00e1, a ado\u00e7\u00e3o da an\u00e1lise dinamizada<a href=\"#_ftn5\" id=\"_ftnref5\"><sup>[5]<\/sup><\/a> produziu um salto na capacidade de processamento das an\u00e1lises: o estado passou de cerca de 51 mil cadastros com an\u00e1lise iniciada no final de 2024<a href=\"#_ftn6\" id=\"_ftnref6\"><sup>[6]<\/sup><\/a> para quase 323 mil registros em setembro de 2026,<a href=\"#_ftn7\" id=\"_ftnref7\"><sup>[7]<\/sup><\/a> cerca de 80% de toda a base cadastral. Entretanto, 203 mil cadastros, quase 63% daqueles com an\u00e1lise iniciada, aguardam resposta dos propriet\u00e1rios ou possuidores \u00e0s notifica\u00e7\u00f5es emitidas pelo \u00f3rg\u00e3o competente. Alagoas apresenta din\u00e2mica semelhante. A ado\u00e7\u00e3o da an\u00e1lise dinamizada tamb\u00e9m permitiu ao estado ampliar a escala das an\u00e1lises, mas dos 121 mil cadastros com an\u00e1lise iniciada (86% da base estadual), 96 mil, quase 80%, aguardam resposta \u00e0s notifica\u00e7\u00f5es e n\u00e3o podem ser validados enquanto as pend\u00eancias n\u00e3o forem atendidas.<a href=\"#_ftn8\" id=\"_ftnref8\"><sup>[8]<\/sup><\/a><sup><\/sup><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">S\u00e3o Paulo mostra como mudan\u00e7as nas regras e procedimentos podem ampliar os resultados produzidos pela automa\u00e7\u00e3o. Um dos primeiros estados a adotar a an\u00e1lise dinamizada em escala, S\u00e3o Paulo j\u00e1 havia iniciado a an\u00e1lise de cerca de 387 mil cadastros por meio dessa ferramenta em 2023, equivalentes a 92% da base estadual, mas apenas 34 mil, ou 8%, foram validados.<a href=\"#_ftn9\" id=\"_ftnref9\"><sup>[9]<\/sup><\/a> A necessidade de retifica\u00e7\u00e3o e de manifesta\u00e7\u00e3o dos propriet\u00e1rios ou possuidores limitava a conclus\u00e3o dos processos. Com a revis\u00e3o da legisla\u00e7\u00e3o e a ado\u00e7\u00e3o da retifica\u00e7\u00e3o autom\u00e1tica com aceite compuls\u00f3rio para im\u00f3veis de at\u00e9 quatro m\u00f3dulos fiscais, o estado reduziu essa depend\u00eancia. Em setembro de 2026, cerca de 200 mil cadastros estavam validados, correspondendo a 45% da base estadual.<a href=\"#_ftn10\" id=\"_ftnref10\"><sup>[10]<\/sup><\/a><sup><\/sup><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Com a ado\u00e7\u00e3o da an\u00e1lise dinamizada, o Piau\u00ed, que tinha cerca de 2% de cadastros com an\u00e1lise iniciada em dezembro de 2025,<a href=\"#_ftn11\" id=\"_ftnref11\"><sup>[11]<\/sup><\/a> saltou para aproximadamente 76% em setembro de 2026.<a href=\"#_ftn12\" id=\"_ftnref12\"><sup>[12]<\/sup><\/a> Para concluir esses processos e validar os cadastros, o Piau\u00ed tamb\u00e9m adotou a retifica\u00e7\u00e3o autom\u00e1tica. Al\u00e9m disso, o estado desenvolveu uma ferramenta tecnol\u00f3gica que executa o aceite no sistema, substituindo a manifesta\u00e7\u00e3o de propriet\u00e1rios e possuidores de im\u00f3veis de at\u00e9 quatro m\u00f3dulos fiscais. Entretanto, o Sicar n\u00e3o suportou o volume de processamento dessa ferramenta em escala e ficou temporariamente indispon\u00edvel.<a href=\"#_ftn13\" id=\"_ftnref13\"><sup>[13]<\/sup><\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Restabelecido o sistema, a capacidade de processamento passou a limitar o ritmo de avan\u00e7o das valida\u00e7\u00f5es e, at\u00e9 setembro de 2026, foi poss\u00edvel validar apenas 20% da base estadual.<a href=\"#_ftn14\" id=\"_ftnref14\"><sup>[14]<\/sup><\/a> A experi\u00eancia do Piau\u00ed revela outro limite da automa\u00e7\u00e3o: a capacidade da infraestrutura tecnol\u00f3gica para processar o volume produzido pelas novas ferramentas.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>A automa\u00e7\u00e3o \u00e9 essencial para enfrentar a escala do C\u00f3digo Florestal, mas seus resultados dependem tamb\u00e9m das regras e procedimentos adotados e da capacidade da infraestrutura tecnol\u00f3gica.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Li\u00e7\u00e3o 4: Implementar em Escala Exige Inova\u00e7\u00e3o, Combina\u00e7\u00e3o e Adapta\u00e7\u00e3o de Estrat\u00e9gias<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">A implementa\u00e7\u00e3o do C\u00f3digo Florestal apresenta desafios que mudam \u00e0 medida que a pol\u00edtica avan\u00e7a. Por isso, as estrat\u00e9gias necess\u00e1rias para enfrent\u00e1-los tamb\u00e9m n\u00e3o devem permanecer iguais ao longo do tempo.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Desde 2019, Mato Grosso vem ampliando a capacidade de an\u00e1lise dos cadastros. Esse ganho de escala foi viabilizado, inicialmente, pela contrata\u00e7\u00e3o de 50 analistas dedicados integralmente ao CAR e pela melhoria da infraestrutura f\u00edsica para o processamento das an\u00e1lises, com recursos oriundos de termos de ajustamento de conduta firmados entre o Minist\u00e9rio P\u00fablico do Estado de Mato Grosso e propriet\u00e1rios rurais autuados por infra\u00e7\u00f5es ambientais.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Com o avan\u00e7o das an\u00e1lises, ganharam relev\u00e2ncia a qualidade dos cadastros e a necessidade de retifica\u00e7\u00e3o ou complementa\u00e7\u00e3o das informa\u00e7\u00f5es pelos produtores e respons\u00e1veis t\u00e9cnicos. O estado investiu inicialmente em mutir\u00f5es e atendimento direto a produtores e respons\u00e1veis t\u00e9cnicos, mas a estrat\u00e9gia n\u00e3o alcan\u00e7ava a escala necess\u00e1ria. A resposta foi o desenvolvimento do CAR Digital, que reconstr\u00f3i os cadastros a partir do cruzamento dos per\u00edmetros dos im\u00f3veis registrados com um conjunto de bases cartogr\u00e1ficas de alta resolu\u00e7\u00e3o e informa\u00e7\u00f5es fundi\u00e1rias e ambientais. O resultado s\u00e3o cadastros mais completos e precisos, que delimitam automaticamente APPs, Reservas Legais, vegeta\u00e7\u00e3o remanescente e \u00e1reas de uso consolidado.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ap\u00f3s a gera\u00e7\u00e3o do novo registro digital, o propriet\u00e1rio ou possuidor devia aceitar o CAR Digital ou justificar a manuten\u00e7\u00e3o do cadastro original, apresentando informa\u00e7\u00f5es complementares ou documentos comprobat\u00f3rios \u2014 uma exig\u00eancia que, na pr\u00e1tica, limitava a conclus\u00e3o dos processos. Em 2025, o estado implementou a vers\u00e3o 2.0 do sistema, eliminando a exig\u00eancia de aceite pr\u00e9vio do produtor. Com isso, o n\u00famero de an\u00e1lises iniciadas dobrou, passando de 45 mil (30% da base) para 92 mil (58% da base), e a propor\u00e7\u00e3o de cadastros validados subiu de 11% para 30% da base estadual.<a href=\"#_ftn15\" id=\"_ftnref15\"><sup>[15]<\/sup><\/a><sup>,<\/sup><a href=\"#_ftn16\" id=\"_ftnref16\"><sup>[16]<\/sup><\/a><sup><\/sup><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Os avan\u00e7os na an\u00e1lise e na valida\u00e7\u00e3o deslocaram o desafio para a regulariza\u00e7\u00e3o ambiental. Mato Grosso passou a integrar a an\u00e1lise do CAR e a ades\u00e3o ao PRA em um \u00fanico fluxo procedimental: quando o im\u00f3vel apresenta passivo ambiental, o produtor tem 90 dias para aderir ao PRA e apresentar o projeto de regulariza\u00e7\u00e3o, sob pena de suspens\u00e3o do CAR, medida com efeitos diretos no acesso a cr\u00e9dito e a outros servi\u00e7os que dependem do cadastro.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A trajet\u00f3ria de Mato Grosso mostra que respostas adequadas a determinado momento podem se tornar insuficientes diante de novos gargalos e demandas. <strong>Implementar o C\u00f3digo Florestal em escala exige capacidade para reconhecer essas mudan\u00e7as e responder a elas, adaptando e combinando estrat\u00e9gias existentes e inovando na constru\u00e7\u00e3o de novas solu\u00e7\u00f5es.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Li\u00e7\u00e3o 5: Implementa\u00e7\u00e3o \u00c9 um Fluxo Cont\u00ednuo<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">A implementa\u00e7\u00e3o do C\u00f3digo Florestal ocorre em etapas sucessivas e interdependentes. Inscri\u00e7\u00e3o, an\u00e1lise e valida\u00e7\u00e3o, regulariza\u00e7\u00e3o e monitoramento s\u00e3o etapas do mesmo processo. Quando os estados concentram esfor\u00e7os em uma fase sem criar as condi\u00e7\u00f5es necess\u00e1rias para operar as seguintes, formam-se estoques de cadastros em diferentes pontos do fluxo: cadastros inscritos aguardam an\u00e1lise e valida\u00e7\u00e3o; cadastros validados aguardam regulariza\u00e7\u00e3o; e compromissos assumidos aguardam execu\u00e7\u00e3o e monitoramento.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Maranh\u00e3o e Roraima avan\u00e7aram na inscri\u00e7\u00e3o dos im\u00f3veis rurais, mas permanecem com capacidade limitada de an\u00e1lise dos cadastros. Em Cear\u00e1 e Alagoas, a automa\u00e7\u00e3o ampliou a capacidade de an\u00e1lise, mas grande parte dos cadastros analisados permanece aguardando resposta \u00e0s notifica\u00e7\u00f5es para que o processo possa ser conclu\u00eddo e o CAR validado. J\u00e1 Esp\u00edrito Santo e Rond\u00f4nia enfrentam o desafio de fazer os im\u00f3veis com passivos identificados avan\u00e7arem para a regulariza\u00e7\u00e3o ambiental.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">S\u00e3o Paulo construiu progressivamente condi\u00e7\u00f5es para que as diferentes etapas da implementa\u00e7\u00e3o funcionem de forma conectada. O fluxo come\u00e7a com a inscri\u00e7\u00e3o no CAR e segue para a an\u00e1lise e a valida\u00e7\u00e3o das informa\u00e7\u00f5es. Nessa etapa, o estado combina ferramenta de an\u00e1lise automatizada e equipe t\u00e9cnica. Para im\u00f3veis de at\u00e9 quatro m\u00f3dulos fiscais, o sistema permite a retifica\u00e7\u00e3o autom\u00e1tica e unilateral das informa\u00e7\u00f5es, sem depender do aceite pr\u00e9vio do propriet\u00e1rio ou possuidor. Os cadastros que n\u00e3o podem ser conclu\u00eddos de forma automatizada seguem para an\u00e1lise pela equipe t\u00e9cnica.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ap\u00f3s a an\u00e1lise do CAR, os passivos s\u00e3o caracterizados diretamente no m\u00f3dulo estadual e o fluxo direciona automaticamente para o m\u00f3dulo de elabora\u00e7\u00e3o do Projeto de Recomposi\u00e7\u00e3o de \u00c1reas Degradadas ou Alteradas (Prada), no qual \u00e9 poss\u00edvel incorporar projetos previamente elaborados ou gerar um novo documento com apoio do WebAmbiente. A minuta segue para an\u00e1lise t\u00e9cnica e, ap\u00f3s aprova\u00e7\u00e3o, para a assinatura eletr\u00f4nica do Termo de Compromisso (TC). A execu\u00e7\u00e3o das obriga\u00e7\u00f5es \u00e9 acompanhada no m\u00f3dulo de monitoramento, formando um fluxo digital integrado da inscri\u00e7\u00e3o no CAR ao monitoramento da regulariza\u00e7\u00e3o ambiental. A exist\u00eancia desse fluxo permite que im\u00f3veis em diferentes situa\u00e7\u00f5es avancem simultaneamente dentro da mesma infraestrutura digital.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Esse planejamento ganha relev\u00e2ncia \u00e0 medida que os estados avan\u00e7am na an\u00e1lise e na valida\u00e7\u00e3o dos cadastros. Um aumento do n\u00famero de cadastros validados amplia a demanda pela regulariza\u00e7\u00e3o ambiental; o avan\u00e7o dos termos de compromisso, por sua vez, gera demanda por monitoramento. <strong>A capacidade estatal, portanto, precisa ser planejada considerando n\u00e3o apenas as necessidades de cada etapa, mas o fluxo completo da implementa\u00e7\u00e3o e a demanda que o avan\u00e7o de uma etapa produzir\u00e1 sobre as demais<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Li\u00e7\u00e3o 6: N\u00e3o Existe Bala de Prata<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Uma \u00fanica estrat\u00e9gia dificilmente responde aos diferentes desafios da implementa\u00e7\u00e3o do C\u00f3digo Florestal. A magnitude e a diversidade da base cadastral e as caracter\u00edsticas territoriais podem aumentar a complexidade da implementa\u00e7\u00e3o e limitar o alcance de uma \u00fanica solu\u00e7\u00e3o, exigindo respostas distintas.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Minas Gerais \u00e9 o estado com o segundo maior n\u00famero de im\u00f3veis inscritos no CAR do pa\u00eds, com mais de um milh\u00e3o de cadastros, e combina diferentes estrat\u00e9gias para enfrentar essa escala e uma diversidade de situa\u00e7\u00f5es. Na an\u00e1lise e valida\u00e7\u00e3o dos cadastros, utiliza simultaneamente empresa terceirizada, an\u00e1lise dinamizada do Sicar e o Selo Verde\u2013CAR 2.0 (UFMG), al\u00e9m da retifica\u00e7\u00e3o e aceite autom\u00e1tico. Na regulariza\u00e7\u00e3o, o estado criou o PRA autodeclarat\u00f3rio como uma alternativa para im\u00f3veis com passivos iniciarem a regulariza\u00e7\u00e3o antes da valida\u00e7\u00e3o do CAR e estruturou o PRA Produzir Sustent\u00e1vel, que organiza uma agenda mais ampla de regulariza\u00e7\u00e3o ambiental, incorporando temas como cadeias produtivas, sementes e capacita\u00e7\u00e3o de produtores.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A diversidade de estrat\u00e9gias envolve tamb\u00e9m diferentes formas de execu\u00e7\u00e3o. Atividades s\u00e3o distribu\u00eddas entre a sede do \u00f3rg\u00e3o ambiental, unidades regionais, empresa contratada, munic\u00edpios e outros parceiros. Para acompanhar essas frentes, o estado estruturou mecanismos de planejamento e monitoramento, com eixos, metas e entregas, sistema interno de acompanhamento das a\u00e7\u00f5es desenvolvidas e <em>workshops<\/em> peri\u00f3dicos.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>A experi\u00eancia de Minas Gerais mostra que bases cadastrais de grande volume e heterog\u00eaneas podem exigir diferentes estrat\u00e9gias operando simultaneamente, com fun\u00e7\u00f5es e alcances distintos. Avan\u00e7ar nesse contexto requer capacidade para manter essas frentes em funcionamento, coorden\u00e1-las, acompanhar seus resultados e avaliar a contribui\u00e7\u00e3o de cada uma.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Li\u00e7\u00e3o 7: Estados Aprendem com Estados<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">A implementa\u00e7\u00e3o do C\u00f3digo Florestal n\u00e3o ocorre de forma isolada nos estados. Solu\u00e7\u00f5es j\u00e1 desenvolvidas e testadas por um estado v\u00eam servindo de refer\u00eancia para outros, que as avaliam e adaptam \u00e0s suas pr\u00f3prias condi\u00e7\u00f5es de implementa\u00e7\u00e3o. <em>Workshops, webinars<\/em>, semin\u00e1rios e outros espa\u00e7os de di\u00e1logo promovidos pelo governo federal e pelos pr\u00f3prios estados contribuem para a circula\u00e7\u00e3o dessas experi\u00eancias.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Recentemente, o Paran\u00e1 seguiu a experi\u00eancia de S\u00e3o Paulo, adotando a an\u00e1lise dinamizada do CAR com retifica\u00e7\u00e3o autom\u00e1tica e aceite t\u00e1cito. Em 2025, o estado alcan\u00e7ou o maior n\u00famero absoluto de cadastros validados do pa\u00eds.<a href=\"#_ftn17\" id=\"_ftnref17\"><sup>[17]<\/sup><\/a> O Paran\u00e1 pretende seguir o modelo paulista tamb\u00e9m na regulariza\u00e7\u00e3o ambiental, com a constru\u00e7\u00e3o de um fluxo digital integrado entre an\u00e1lise do CAR, elabora\u00e7\u00e3o do Prada, assinatura do TC e monitoramento.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A retifica\u00e7\u00e3o unilateral tamb\u00e9m passou a ser adotada por outros estados, entre eles Rio de Janeiro e Minas Gerais. Ao estruturar seus pr\u00f3prios procedimentos, Minas Gerais avaliou as experi\u00eancias j\u00e1 existentes e tomou como refer\u00eancia direta a regulamenta\u00e7\u00e3o do Rio de Janeiro, por consider\u00e1-la mais adequada \u00e0 sua realidade. O Cear\u00e1 est\u00e1 avaliando revisar sua regulamenta\u00e7\u00e3o e pretende se basear nos procedimentos e atos normativos adotados por S\u00e3o Paulo, Paran\u00e1, Minas Gerais e Rio de Janeiro.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A partir de uma visita t\u00e9cnica para conhecer melhor o CAR Digital 2.0, Mato Grosso do Sul definiu uma nova estrat\u00e9gia para avan\u00e7ar nas an\u00e1lises do CAR com base na experi\u00eancia do estado vizinho. O estado estruturou um novo plano operacional do CAR e contratou empresa especializada para desenvolver um sistema baseado no modelo adotado por Mato Grosso. Santa Catarina avalia seguir o mesmo caminho, incorporando o CAR Digital 2.0, al\u00e9m do modelo de apoio ao produtor por meio da extens\u00e3o rural adotado por S\u00e3o Paulo.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>O aprendizado entre estados permite evitar que cada um enfrente sozinho um problema j\u00e1 conhecido e aproveitar conhecimentos acumulados e solu\u00e7\u00f5es j\u00e1 desenvolvidas, adaptando-as a um novo contexto quando necess\u00e1rio.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Li\u00e7\u00e3o 8: Seguran\u00e7a Jur\u00eddica Importa<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">A implementa\u00e7\u00e3o do C\u00f3digo Florestal depende de regras suficientemente claras, est\u00e1veis e previs\u00edveis para orientar as decis\u00f5es do poder p\u00fablico e a atua\u00e7\u00e3o dos atores envolvidos. Controv\u00e9rsias sobre as regras aplic\u00e1veis podem interromper procedimentos, retardar decis\u00f5es e colocar em d\u00favida atos praticados durante a implementa\u00e7\u00e3o.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">O Paran\u00e1 convive h\u00e1 anos com uma controv\u00e9rsia sobre a aplica\u00e7\u00e3o do C\u00f3digo Florestal e da Lei da Mata Atl\u00e2ntica \u00e0s \u00e1reas rurais consolidadas. Decis\u00f5es judiciais sucessivas t\u00eam alternado o regime jur\u00eddico que deve orientar a an\u00e1lise dos cadastros. Em junho de 2025, o Tribunal Regional Federal da 4\u00aa Regi\u00e3o (TRF-4) suspendeu a senten\u00e7a que exigia a aplica\u00e7\u00e3o do regime da Mata Atl\u00e2ntica, permitindo ao estado seguir as an\u00e1lises com base no C\u00f3digo Florestal.<a href=\"#_ftn18\" id=\"_ftnref18\"><sup>[18]<\/sup><\/a> Logo em seguida, o Paran\u00e1 adotou a retifica\u00e7\u00e3o autom\u00e1tica com aceite compuls\u00f3rio e avan\u00e7ou na an\u00e1lise e na valida\u00e7\u00e3o dos cadastros. Como a controv\u00e9rsia ainda n\u00e3o foi definitivamente resolvida, os atos praticados durante esse per\u00edodo permanecem sujeitos aos efeitos de uma eventual revers\u00e3o do entendimento judicial.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">No Rio Grande do Sul, uma controv\u00e9rsia jur\u00eddica tamb\u00e9m condicionou a implementa\u00e7\u00e3o por anos. A indefini\u00e7\u00e3o sobre o tratamento da vegeta\u00e7\u00e3o campestre e do pastoreio no Pampa dificultou o avan\u00e7o do CAR e da regulariza\u00e7\u00e3o ambiental. Em 2025, um acordo homologado judicialmente permitiu a edi\u00e7\u00e3o do Decreto n\u00ba 58.190\/2025, que estabeleceu crit\u00e9rios para a conserva\u00e7\u00e3o, o uso sustent\u00e1vel e a recupera\u00e7\u00e3o do bioma.<a href=\"#_ftn19\" id=\"_ftnref19\"><sup>[19]<\/sup><\/a> O novo marco reduziu a incerteza jur\u00eddica que historicamente dificultava o avan\u00e7o da regulariza\u00e7\u00e3o ambiental, e o estado regulamentou recentemente o PRA.<a href=\"#_ftn20\" id=\"_ftnref20\"><sup>[20]<\/sup><\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A cota de reserva ambiental mostra como a inseguran\u00e7a jur\u00eddica pode impedir a implementa\u00e7\u00e3o de um dos instrumentos mais importantes para facilitar a regulariza\u00e7\u00e3o ambiental de passivos em Reserva Legal e ainda remunerar quem preserva vegeta\u00e7\u00e3o nativa acima da exig\u00eancia legal. No julgamento das a\u00e7\u00f5es sobre a constitucionalidade do C\u00f3digo Florestal, em 2018, o STF adotou entendimentos distintos sobre o crit\u00e9rio territorial aplic\u00e1vel \u00e0 compensa\u00e7\u00e3o de Reserva Legal, acarretando uma incerteza sobre qual crit\u00e9rio deveria orientar a implementa\u00e7\u00e3o da CRA.<a href=\"#_ftn21\" id=\"_ftnref21\"><sup>[21]<\/sup><\/a> A controv\u00e9rsia, resolvida apenas em outubro de 2024, contribuiu para retardar a operacionaliza\u00e7\u00e3o do instrumento. Esse novo cen\u00e1rio possibilitou ao governo federal estruturar a plataforma e os procedimentos de emiss\u00e3o, valida\u00e7\u00e3o e rastreabilidade das cotas, e ao Rio de Janeiro emitir as primeiras CRAs do pa\u00eds.<a href=\"#_ftn22\" id=\"_ftnref22\"><sup>[22]<\/sup><\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>A seguran\u00e7a jur\u00eddica \u00e9 uma condi\u00e7\u00e3o permanente da implementa\u00e7\u00e3o: precisa estar presente em todo o processo para orientar decis\u00f5es, criar condi\u00e7\u00f5es para que a pol\u00edtica avance e sustentar os resultados alcan\u00e7ados ao longo do tempo.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Li\u00e7\u00e3o 9: Comunica\u00e7\u00e3o Eficaz<\/strong> <strong>\u00c9<\/strong> <strong>Parte da Implementa\u00e7\u00e3o<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">A operacionaliza\u00e7\u00e3o do C\u00f3digo Florestal depende n\u00e3o apenas das a\u00e7\u00f5es do poder p\u00fablico, mas tamb\u00e9m da atua\u00e7\u00e3o de milh\u00f5es de propriet\u00e1rios e possuidores rurais. Nesse contexto, os destinat\u00e1rios da pol\u00edtica precisam receber as informa\u00e7\u00f5es, compreender quando e como devem agir e ter condi\u00e7\u00f5es para responder \u00e0s solicita\u00e7\u00f5es.<a href=\"#_ftn23\" id=\"_ftnref23\"><sup>[23]<\/sup><\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Essa participa\u00e7\u00e3o \u00e9 necess\u00e1ria em diferentes etapas da implementa\u00e7\u00e3o: s\u00e3o os propriet\u00e1rios e possuidores que inscrevem os im\u00f3veis no CAR, respondem a notifica\u00e7\u00f5es, retificam informa\u00e7\u00f5es e aderem aos mecanismos de regulariza\u00e7\u00e3o ambiental. Em muitos estados, entre 50% e 80% dos cadastros com an\u00e1lise iniciada permanecem aguardando manifesta\u00e7\u00e3o dos propriet\u00e1rios ou possuidores para que o processo possa avan\u00e7ar.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">S\u00e3o Paulo mostra como esse gargalo pode persistir mesmo depois do avan\u00e7o das solu\u00e7\u00f5es tecnol\u00f3gicas e procedimentais. Ap\u00f3s aplicar a retifica\u00e7\u00e3o autom\u00e1tica e o aceite compuls\u00f3rio aos cadastros em que esse procedimento era poss\u00edvel, os casos restantes passaram a depender da resposta dos produtores para avan\u00e7ar. A comunica\u00e7\u00e3o \u00e9 hoje apontada pelo estado como um dos principais gargalos para dar continuidade a esses processos.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Diante desse problema, os estados passaram a atuar em duas frentes. A primeira busca aumentar a capacidade de alcan\u00e7ar e orientar os produtores, por meio de atendimento direto, parcerias com sindicatos e servi\u00e7os de assist\u00eancia t\u00e9cnica e diversifica\u00e7\u00e3o dos canais de comunica\u00e7\u00e3o e notifica\u00e7\u00e3o \u2014 carta, edital, <em>e-mail<\/em>, <em>WhatsApp<\/em> e r\u00e1dio. A segunda procura induzir a resposta quando a comunica\u00e7\u00e3o, por si s\u00f3, n\u00e3o \u00e9 suficiente. Mato Grosso e Distrito Federal adotaram a suspens\u00e3o do CAR em caso de aus\u00eancia de manifesta\u00e7\u00e3o, enquanto o Acre passou a arquivar cadastros ap\u00f3s duas notifica\u00e7\u00f5es n\u00e3o atendidas.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Apesar da diversidade de estrat\u00e9gias adotadas pelos estados, a comunica\u00e7\u00e3o permanece como um gargalo. <strong>Avan\u00e7ar na implementa\u00e7\u00e3o exige desenvolver novas formas de comunica\u00e7\u00e3o, sensibiliza\u00e7\u00e3o e mobiliza\u00e7\u00e3o dos propriet\u00e1rios e possuidores rurais.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Li\u00e7\u00e3o 10: Na Amaz\u00f4nia, a Quest\u00e3o Fundi\u00e1ria Limita a Implementa\u00e7\u00e3o<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">A an\u00e1lise e a valida\u00e7\u00e3o do CAR exigem informa\u00e7\u00f5es consistentes sobre a localiza\u00e7\u00e3o e os limites do im\u00f3vel e sua rela\u00e7\u00e3o com outras \u00e1reas privadas e terras p\u00fablicas. Quando s\u00e3o identificadas sobreposi\u00e7\u00f5es ou conflitos cuja resolu\u00e7\u00e3o ultrapassa a compet\u00eancia do \u00f3rg\u00e3o gestor do CAR, o avan\u00e7o do processo passa a depender tamb\u00e9m de informa\u00e7\u00f5es e da atua\u00e7\u00e3o dos \u00f3rg\u00e3os respons\u00e1veis pela gest\u00e3o fundi\u00e1ria e territorial.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Na Amaz\u00f4nia Legal, a governan\u00e7a territorial e fundi\u00e1ria assume uma relev\u00e2ncia particular. Em oito dos nove estados da regi\u00e3o, mais da metade dos registros do CAR apresenta sobreposi\u00e7\u00f5es relevantes entre seus per\u00edmetros.<a href=\"#_ftn24\" id=\"_ftnref24\"><sup>[24]<\/sup><\/a> A esse problema se somam cadastros incidentes sobre terras p\u00fablicas, incluindo Terras Ind\u00edgenas e Unidades de Conserva\u00e7\u00e3o. Quando essas situa\u00e7\u00f5es n\u00e3o podem ser resolvidas a partir das informa\u00e7\u00f5es dispon\u00edveis no CAR, os cadastros permanecem pendentes e n\u00e3o podem ser validados. Seu avan\u00e7o passa a depender de informa\u00e7\u00f5es fundi\u00e1rias e, em muitos casos, da atua\u00e7\u00e3o de outros \u00f3rg\u00e3os.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">O Par\u00e1 vem enfrentando esse problema por meio da articula\u00e7\u00e3o entre as agendas ambiental e fundi\u00e1ria. Em parceria com o Instituto Nacional de Coloniza\u00e7\u00e3o e Reforma Agr\u00e1ria (Incra), o estado validou cerca de 2 mil CARs de assentamentos e avan\u00e7a na integra\u00e7\u00e3o entre seu sistema estadual e o Sistema de Gest\u00e3o Ambiental em Assentamentos da Reforma Agr\u00e1ria (Sigara). A coopera\u00e7\u00e3o com o Instituto de Terras do Par\u00e1 (Iterpa) permite ainda que a inscri\u00e7\u00e3o no CAR seja entregue junto com o t\u00edtulo fundi\u00e1rio, utilizando as informa\u00e7\u00f5es produzidas durante a titula\u00e7\u00e3o para a elabora\u00e7\u00e3o do cadastro.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">O problema tamb\u00e9m passou a ser enfrentado em \u00e2mbito federal. Em 2026, no \u00e2mbito da ADPF 743, o STF determinou que a Uni\u00e3o passe a atuar sobre determinados CARs incidentes em Terras Ind\u00edgenas homologadas e Unidades de Conserva\u00e7\u00e3o federais, incluindo a notifica\u00e7\u00e3o dos titulares dos cadastros e a decis\u00e3o sobre a manuten\u00e7\u00e3o ou suspens\u00e3o dos registros. A decis\u00e3o responde \u00e0 necessidade de atua\u00e7\u00e3o federal sobre essas sobreposi\u00e7\u00f5es, embora o arranjo institucional e operacional para sua implementa\u00e7\u00e3o ainda n\u00e3o esteja definido.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Na Amaz\u00f4nia, avan\u00e7ar na implementa\u00e7\u00e3o do C\u00f3digo Florestal em escala exige mais do que infraestrutura, tecnologia e melhorias nos procedimentos do CAR e do PRA. Esse resultado depende tamb\u00e9m de maior articula\u00e7\u00e3o entre as pol\u00edticas e os \u00f3rg\u00e3os respons\u00e1veis pelas agendas ambiental e fundi\u00e1ria.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>O Que as Dez Li\u00e7\u00f5es em Conjunto Ensinam<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">As experi\u00eancias estaduais ao longo de mais de uma d\u00e9cada mostram que \u00e0 medida que a pol\u00edtica avan\u00e7a, os gargalos se deslocam, novos desafios surgem e as capacidades, estrat\u00e9gias e solu\u00e7\u00f5es necessariamente tamb\u00e9m precisam evoluir.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A constru\u00e7\u00e3o da base cadastral exigiu determinadas capacidades; a an\u00e1lise em escala trouxe novas demandas tecnol\u00f3gicas e informacionais; o avan\u00e7o da valida\u00e7\u00e3o tornou mais relevantes a comunica\u00e7\u00e3o e os procedimentos de retifica\u00e7\u00e3o; e a regulariza\u00e7\u00e3o ambiental e as quest\u00f5es fundi\u00e1rias ampliam a necessidade de articula\u00e7\u00e3o com outros \u00f3rg\u00e3os, pol\u00edticas e instrumentos. O avan\u00e7o da implementa\u00e7\u00e3o, portanto, n\u00e3o elimina os desafios, mas modifica sua natureza e as capacidades necess\u00e1rias para enfrent\u00e1-los.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Essa trajet\u00f3ria evidencia que a coordena\u00e7\u00e3o \u00e9 uma dimens\u00e3o transversal da implementa\u00e7\u00e3o. Ela \u00e9 necess\u00e1ria entre as etapas sucessivas do processo; entre o poder p\u00fablico e os propriet\u00e1rios e possuidores rurais; e entre diferentes \u00f3rg\u00e3os e estruturas administrativas estaduais e n\u00edveis de governo respons\u00e1veis por sistemas, bases de dados, regulariza\u00e7\u00e3o ambiental e outras pol\u00edticas que condicionam a implementa\u00e7\u00e3o.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As experi\u00eancias estaduais tamb\u00e9m mostram que nem todos os desafios s\u00e3o comuns a todos os contextos. Alguns aparecem de forma recorrente entre os estados, enquanto outros decorrem de caracter\u00edsticas espec\u00edficas de determinadas regi\u00f5es ou bases cadastrais. Da mesma forma, estrat\u00e9gias que respondem bem a determinado contexto n\u00e3o necessariamente produzem os mesmos resultados em outros. Distinguir o que pode ser generalizado do que depende de particularidades locais \u00e9, portanto, parte do aprendizado acumulado ao longo da implementa\u00e7\u00e3o.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Sistematizar essas li\u00e7\u00f5es permite que estrat\u00e9gias j\u00e1 adotadas, seus resultados e seus limites informem novas decis\u00f5es e que o aprendizado acumulado contribua para orientar os pr\u00f3ximos passos da implementa\u00e7\u00e3o do C\u00f3digo Florestal.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"wp-block-paragraph\"><em>As autoras gostariam de agradecer aos representantes estaduais que participaram do webinar organizado pelo CPI\/PUC-Rio em setembro de 2026. Tamb\u00e9m gostariam de agradecer Camila Calado e Giovanna de Miranda pela edi\u00e7\u00e3o e revis\u00e3o do texto e a Meyrele Nascimento pelo trabalho de formata\u00e7\u00e3o e design gr\u00e1fico.<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#_ftnref1\" id=\"_ftn1\">[1]<\/a> CPI\/PUC-Rio. <em>Monitor da Implementa\u00e7\u00e3o do C\u00f3digo Florestal<\/em>. Data de acesso: 16 de outubro de 2026. <a href=\"http:\/\/bit.ly\/MonitordeImplementacaoCF\" target=\"_blank\" rel=\"noreferrer noopener\"><u>bit.ly\/MonitordeImplementacaoCF<\/u><\/a><a href=\"https:\/\/bit.ly\/4y7SKVZ\">.<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#_ftnref2\" id=\"_ftn2\">[2]<\/a> Informa\u00e7\u00e3o fornecida pelo Idaf\/ES em setembro de 2026.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#_ftnref3\" id=\"_ftn3\">[3]<\/a> Lopes, Cristina L., Nina Didonet e Joana Chiavari. <em>Onde Estamos na Implementa\u00e7\u00e3o do C\u00f3digo Florestal? Radiografia do CAR e do PRA nos Estados Brasileiros \u2013 Edi\u00e7\u00e3o 2025<\/em>. Rio de Janeiro: Climate Policy Initiative, 2025. <a href=\"https:\/\/bit.ly\/4rKYjrJ\" target=\"_blank\" rel=\"noreferrer noopener\"><u>bit.ly\/4rKYjrJ.<\/u><\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#_ftnref4\" id=\"_ftn4\">[4]<\/a> A ADPF n\u00ba 743 foi proposta em 2020 com foco em pol\u00edticas de preven\u00e7\u00e3o e combate ao desmatamento e aos inc\u00eandios florestais na Amaz\u00f4nia e no Pantanal. A a\u00e7\u00e3o questiona a atua\u00e7\u00e3o do poder p\u00fablico na prote\u00e7\u00e3o do meio ambiente e na implementa\u00e7\u00e3o de instrumentos previstos na legisla\u00e7\u00e3o ambiental brasileira. Decis\u00f5es do Supremo Tribunal Federal (STF) no \u00e2mbito dessa a\u00e7\u00e3o passaram a incidir diretamente sobre a implementa\u00e7\u00e3o do CAR, como parte de um conjunto de medidas estruturais voltadas ao fortalecimento da capacidade estatal de preven\u00e7\u00e3o, monitoramento e controle do desmatamento.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#_ftnref5\" id=\"_ftn5\">[5]<\/a> A an\u00e1lise dinamizada \u00e9 uma ferramenta do Sicar, desenvolvida pelo Servi\u00e7o Florestal Brasileiro (SFB), que verifica automaticamente os dados e informa\u00e7\u00f5es declarados no CAR, comparando-os com imagens de sat\u00e9lite e bases geoespaciais de refer\u00eancia. Em caso de diverg\u00eancia, a ferramenta prop\u00f5e a retifica\u00e7\u00e3o dinamizada, por meio da qual \u00e9 poss\u00edvel fazer a corre\u00e7\u00e3o autom\u00e1tica das inconsist\u00eancias, tendo os propriet\u00e1rios ou possuidores a possibilidade de aceitar ou n\u00e3o as sugest\u00f5es de retifica\u00e7\u00e3o disponibilizadas pelo sistema.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#_ftnref6\" id=\"_ftn6\">[6]<\/a> Lopes, Cristina L., et al. <em>Onde Estamos na Implementa\u00e7\u00e3o do C\u00f3digo Florestal? Radiografia do CAR e do PRA nos Estados Brasileiros \u2014 Edi\u00e7\u00e3o 2024<\/em>. Rio de Janeiro: Climate Policy Initiative, 2024. <a href=\"https:\/\/bit.ly\/4rzmrxk\" target=\"_blank\" rel=\"noreferrer noopener\"><u>bit.ly\/4rzmrxk.<\/u><\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#_ftnref7\" id=\"_ftn7\">[7]<\/a> Servi\u00e7o Florestal Brasileiro (SFB). <em>Painel da Regulariza\u00e7\u00e3o Ambiental<\/em>. 2026. Data de acesso: 14 de outubro de 2026. <a href=\"https:\/\/bit.ly\/4mJTs60\" target=\"_blank\" rel=\"noreferrer noopener\"><u>bit.ly\/4mJTs60.<\/u><\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#_ftnref8\" id=\"_ftn8\">[8]<\/a> Servi\u00e7o Florestal Brasileiro (SFB). <em>Painel da Regulariza\u00e7\u00e3o Ambiental<\/em>. 2026. Data de acesso: 14 de outubro de 2026. <a href=\"https:\/\/bit.ly\/4mJTs60\" target=\"_blank\" rel=\"noreferrer noopener\"><u>bit.ly\/4mJTs60.<\/u><\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#_ftnref9\" id=\"_ftn9\">[9]<\/a> Lopes, Cristina L., Maria Eduarda Segovia e Joana Chiavari. <em>Onde Estamos na Implementa\u00e7\u00e3o do C\u00f3digo Florestal? Radiografia do CAR e do PRA nos Estados Brasileiros \u2014 Edi\u00e7\u00e3o 2023<\/em>. Rio de Janeiro: Climate Policy Initiative, 2023. <a href=\"https:\/\/bit.ly\/4iYGEut\" target=\"_blank\" rel=\"noreferrer noopener\"><u>bit.ly\/4iYGEut.<\/u><\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#_ftnref10\" id=\"_ftn10\">[10]<\/a> Secretaria de Agricultura e Abastecimento do Estado de S\u00e3o Paulo (SAA\/SP). <em>Painel da Regulariza\u00e7\u00e3o Ambiental de S\u00e3o Paulo<\/em>. 2026. Data de acesso: 16 de outubro de 2026. <a href=\"http:\/\/bit.ly\/478DVHL\" target=\"_blank\" rel=\"noreferrer noopener\"><u>bit.ly\/478DVHL<\/u><\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#_ftnref11\" id=\"_ftn11\">[11]<\/a> Lopes, Cristina L., Nina Didonet e Joana Chiavari. <em>Onde Estamos na Implementa\u00e7\u00e3o do C\u00f3digo Florestal? Radiografia do CAR e do PRA nos Estados Brasileiros \u2013 Edi\u00e7\u00e3o 2025<\/em>. Rio de Janeiro: Climate Policy Initiative, 2025. <a href=\"http:\/\/bit.ly\/4rKYjrJ\" target=\"_blank\" rel=\"noreferrer noopener\"><u>bit.ly\/4rKYjrJ<\/u><\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#_ftnref12\" id=\"_ftn12\">[12]<\/a> Servi\u00e7o Florestal Brasileiro (SFB). <em>Painel da Regulariza\u00e7\u00e3o Ambiental<\/em>. 2026. Data de acesso: 16 de outubro de 2026. <a href=\"http:\/\/bit.ly\/4mJTs60\" target=\"_blank\" rel=\"noreferrer noopener\"><u>bit.ly\/4mJTs60<\/u><\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#_ftnref13\" id=\"_ftn13\">[13]<\/a> Informa\u00e7\u00f5es fornecidas pela Semarh\/PI ao CPI\/PUC-Rio em setembro de 2026.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#_ftnref14\" id=\"_ftn14\">[14]<\/a> Servi\u00e7o Florestal Brasileiro (SFB). <em>Painel da Regulariza\u00e7\u00e3o Ambiental<\/em>. 2026. Data de acesso: 16 de outubro de 2026. <a href=\"http:\/\/bit.ly\/4mJTs60\" target=\"_blank\" rel=\"noreferrer noopener\"><u>bit.ly\/4mJTs60<\/u><\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#_ftnref15\" id=\"_ftn15\">[15]<\/a> Lopes, Cristina L., Nina Didonet e Joana Chiavari. <em>Onde Estamos na Implementa\u00e7\u00e3o do C\u00f3digo Florestal? Radiografia do CAR e do PRA nos Estados Brasileiros \u2013 Edi\u00e7\u00e3o 2025<\/em>. Rio de Janeiro: Climate Policy Initiative, 2025. <a href=\"http:\/\/bit.ly\/4rKYjrJ\" target=\"_blank\" rel=\"noreferrer noopener\"><u>bit.ly\/4rKYjrJ<\/u><\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#_ftnref16\" id=\"_ftn16\">[16]<\/a> Dados fornecidos pela Secretaria de Estado de Meio Ambiente de Mato Grosso (Sema\/MT) ao CPI\/PUC-Rio em outubro de 2026.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#_ftnref17\" id=\"_ftn17\">[17]<\/a> Lopes, Cristina L., Nina Didonet e Joana Chiavari. <em>Onde Estamos na Implementa\u00e7\u00e3o do C\u00f3digo Florestal? Radiografia do CAR e do PRA nos Estados Brasileiros \u2013 Edi\u00e7\u00e3o 2025<\/em>. Rio de Janeiro: Climate Policy Initiative, 2025. <a href=\"http:\/\/bit.ly\/4rKYjrJ\" target=\"_blank\" rel=\"noreferrer noopener\"><u>bit.ly\/4rKYjrJ<\/u><\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#_ftnref18\" id=\"_ftn18\">[18]<\/a> Lopes, Cristina L., Nina Didonet e Joana Chiavari. <em>Controv\u00e9rsia entre Lei da Mata Atl\u00e2ntica e C\u00f3digo Florestal: TRF-4 Privilegia Estabilidade no Campo<\/em>. Rio de Janeiro: Climate Policy Initiative, 2026. <a href=\"http:\/\/bit.ly\/Nota-TRF-4\" target=\"_blank\" rel=\"noreferrer noopener\"><u>bit.ly\/Nota-TRF-4<\/u><\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#_ftnref19\" id=\"_ftn19\">[19]<\/a> Lopes, Cristina L., Nina Didonet e Joana Chiavari. <em>Onde Estamos na Implementa\u00e7\u00e3o do C\u00f3digo Florestal? Radiografia do CAR e do PRA nos Estados Brasileiros \u2013 Edi\u00e7\u00e3o 2025<\/em>. Rio de Janeiro: Climate Policy Initiative, 2025. <a href=\"http:\/\/bit.ly\/4rKYjrJ\" target=\"_blank\" rel=\"noreferrer noopener\"><u>bit.ly\/4rKYjrJ<\/u><\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#_ftnref20\" id=\"_ftn20\">[20]<\/a> Rio Grande do Sul, Decreto Estadual n\u00ba 58.804, de 27 de maio de 2026 \u2014 Disp\u00f5e sobre a regulariza\u00e7\u00e3o ambiental de im\u00f3veis rurais, e implanta o Programa de Regulariza\u00e7\u00e3o Ambiental do Estado do Rio Grande do Sul (PRA\/RS).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#_ftnref21\" id=\"_ftn21\">[21]<\/a> Lopes, Cristina L., Maria Eduarda Segovia e Joana Chiavari. <em>Julgamento no STF Impacta o C\u00f3digo Florestal: O Crit\u00e9rio de Identidade Ecol\u00f3gica Pode Ser Estendido para Todas as Formas de Compensa\u00e7\u00e3o de Reserva Legal<\/em>. Rio de Janeiro: Climate Policy Initiative, 2023. <a href=\"http:\/\/bit.ly\/3VxWhiD\" target=\"_blank\" rel=\"noreferrer noopener\"><u>bit.ly\/3VxWhiD<\/u><\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#_ftnref22\" id=\"_ftn22\">[22]<\/a> Lopes, Cristina L., Nina Didonet e Joana Chiavari. <em>Onde Estamos na Implementa\u00e7\u00e3o do C\u00f3digo Florestal? Radiografia do CAR e do PRA nos Estados Brasileiros \u2013 Edi\u00e7\u00e3o 2025<\/em>. Rio de Janeiro: Climate Policy Initiative, 2025. <a href=\"http:\/\/bit.ly\/4rKYjrJ\" target=\"_blank\" rel=\"noreferrer noopener\"><u>bit.ly\/4rKYjrJ<\/u><\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#_ftnref23\" id=\"_ftn23\">[23]<\/a> Moynihan, Donald P.; Herd, Pamela; Harvey, Hope. \u201dAdministrative Burden: Learning, Psychological, and Compliance Costs in Citizen-State Interactions\u201d. <em>Journal of Public Administration Research and Theory<\/em> 25, n\u00ba 1 (2015): 43-69. <a href=\"http:\/\/bit.ly\/4dGjQvU\" target=\"_blank\" rel=\"noreferrer noopener\"><u>bit.ly\/4dGjQvU<\/u><\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"#_ftnref24\" id=\"_ftn24\">[24]<\/a> Instituto para Governan\u00e7a Territorial e Pol\u00edticas P\u00fablicas (IGPP). <em>Lei de Prote\u00e7\u00e3o da Vegeta\u00e7\u00e3o Nativa: modelagem espacial de alta resolu\u00e7\u00e3o &#8211; Nota t\u00e9cnica e metodol\u00f3gica atualiza\u00e7\u00e3o 2025<\/em>. 2025. <a href=\"http:\/\/bit.ly\/3TWqA2b\" target=\"_blank\" rel=\"noreferrer noopener\"><u>bit.ly\/3TWqA2b<\/u><\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Esta publica\u00e7\u00e3o re\u00fane o conhecimento acumulado desde 2019 para extrair das trajet\u00f3rias estaduais dez li\u00e7\u00f5es sobre o que favorece, limita ou condiciona o avan\u00e7o da implementa\u00e7\u00e3odo c\u00f3digo florestal. <\/p>\n","protected":false},"author":233,"featured_media":126071,"template":"","format":"standard","meta":{"_acf_changed":false},"programs":[1241],"regions":[1377],"topics":[1246,1267],"collaborations":[],"class_list":["post-126070","cpi_publications","type-cpi_publications","status-publish","format-standard","has-post-thumbnail","hentry","programs-brazil-policy-center","regions-brasil","topics-codigo-florestal","topics-direito-e-governanca-do-clima"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - 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Asia \u2013 Panra Fund"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Overview<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>The Panra Fund<\/strong>, developed by <strong>Adaptation Asia<\/strong>, is a USD 50 million private debt vehicle deploying commercial and concessional capital, alongside grants, to unlock adaptation investment and strengthen smallholder resilience across Southeast Asia.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Innovation<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">In the Philippines, climate shocks can reduce agribusiness revenues by 40-60%, yet traditional loans maintain fixed repayment schedules, increasing defaults and causing lenders to withdraw credit precisely when businesses and farmers need capital to invest in resilience. Adaptation investment is further constrained by limited track records and difficulties measuring and monetizing resilience outcomes.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Adaptation Asia \u2013 Panra Fund provides a financial solution suited to the climate volatility, cash-flow patterns, and perceived risks of smallholder-focused agribusinesses. It combines flexible revenue-based financing with verified Resilience Assets (RAs) in a single vehicle. Repayments adjust to agribusiness revenues and seasonal cash flows, reducing the mismatch between debt obligations and climate-driven income volatility.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">At the same time, remote sensing and digital MRV convert measurable improvements in soil health, biodiversity, and other ecosystem outcomes into monetizable RAs, creating an additional revenue stream that primarily benefits farmers. This combination simultaneously de-risks lending, rewards regenerative practices, and makes adaptation outcomes measurable and investable.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Impact<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Panra aims to support more than 1.8 million farmers, 60% of them women, across 5 million hectares in adopting climate-resilient practices over the next decade.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Implementation begins with a USD 1\u20132 million pilot in the Philippines to validate revenue-based financing and Resilience Assets before mobilizing the full fund and scaling regionally. Panra targets agribusinesses across the Philippines, Indonesia, Vietnam, Laos, Thailand, and Cambodia.&nbsp;<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><strong>&nbsp;<\/strong>\u201cFrom enhancing our financial model, progressing our impact and risk framework, and connecting us with a wide group of partners and investors, the Lab has been an indispensable partner on our journey. We are now starting due diligence on our pilots over the coming months, focusing on implementation on the ground and working closely with agribusinesses and farmers in Southeast Asia.\u201d&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Ben Warren, CEO Adaptation Asia<\/strong><\/p>\n<\/blockquote>\n\n\n\n<h3 class=\"wp-block-heading\">Design<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Panra is designed as a debt fund, combining senior commercial capital, junior concessional capital, and a technical assistance facility to de-risk investment in climate-resilient agribusinesses. Its investment strategy targets growth-stage, smallholder-focused agribusinesses across Southeast Asia, deploying USD 1\u20135 million per investment, with an average ticket size of USD 2.5 million.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Financing primarily uses revenue-based loans, complemented by term loans, to fund working capital, capital expenditure, trade finance, and growth initiatives. Repayments are aligned with agribusiness revenues and seasonal cash flows, while embedded Resilience Assets monetize verified ecosystem outcomes and generate additional benefits for farmers.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"509\" src=\"https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/Panra-instrument-mechanics-01-1024x509.png\" alt=\"\" class=\"wp-image-126121\" srcset=\"https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/Panra-instrument-mechanics-01-1024x509.png 1024w, https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/Panra-instrument-mechanics-01-300x149.png 300w, https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/Panra-instrument-mechanics-01-1536x763.png 1536w, https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/Panra-instrument-mechanics-01-2048x1017.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Pipeline<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Beyond the pilot in the Philippines, Panra has screened more than 30 agribusinesses across Southeast Asia, representing over USD 60 million in identified capital demand. Its pipeline targets growth-stage agribusinesses in high-value value chains, including cacao, rice, coffee, and bananas. The strategy prioritizes financially viable enterprises with measurable resilience impacts, strong farmer reach, and potential for replication and scale.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A USD 50 million private debt vehicle that aims to unlock climate adaptation investment across Southeast Asia by financing agriculture-focused SMEs while supporting the climate resilience of smallholder farmers. <\/p>\n","protected":false},"author":185,"featured_media":126391,"template":"","format":"standard","meta":{"_acf_changed":false},"programs":[395],"regions":[1508],"topics":[842],"collaborations":[],"class_list":["post-126387","cpi_publications","type-cpi_publications","status-publish","format-standard","has-post-thumbnail","hentry","programs-global-innovation-lab-for-climate-finance","regions-philippines","topics-financial-innovation"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Adaptation Asia \u2013 Panra Fund - CPI<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.climatepolicyinitiative.org\/publication\/adaptation-asia-panra-fund\/\" \/>\n<meta property=\"og:locale\" content=\"pt_BR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Adaptation Asia \u2013 Panra Fund - CPI\" \/>\n<meta property=\"og:description\" content=\"A USD 50 million private debt vehicle that aims to unlock climate adaptation investment across Southeast Asia by financing agriculture-focused SMEs while supporting the climate resilience of smallholder farmers.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.climatepolicyinitiative.org\/publication\/adaptation-asia-panra-fund\/\" \/>\n<meta property=\"og:site_name\" content=\"CPI\" \/>\n<meta property=\"article:publisher\" 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Andes Fund"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Overview<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The Amazon Andes Fund, developed by IMPAQTO Capital, is a USD 30M private debt and equity vehicle deploying flexible capital (working capital, equipment financing and equity) to increase local value capture.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Innovation<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Forest-compatible value chains have demonstrated commercial potential, but financial flows remain concentrated in established volume agriculture and other extractive sectors. Across Amazonia, soy and cattle attract over USD 30 billion in annual financing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That\u2019s 100 times more than the approximately USD 300 million attracted by biodiversity-based products. Moreover, 30% of greenfield investment in Peru, Colombia, and Ecuador between 2020 and mid-2025 went to mining. The gap is particularly acute outside Brazil, which captured 85% of greenfield investment across the Amazon, leaving the Andean Amazon\u2019s lessdeveloped investment ecosystem unable to consistently originate and scale opportunities.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Amazon Andes Fund addresses this mismatch between available capital and enterprise needs by deploying debt and strategic equity aligned with business maturity and cash flow profiles across the value chain, taking a blended approach to managing risk in earlier-stage and geographically dispersed businesses. By helping downstream enterprises grow and secure higher-value markets, the fund aims to support more reliable purchasing, stronger producer relationships and better income opportunities close to origin. A regional team with networks across producers, processors and enabling businesses supports origination and execution, connecting investment decisions to commercial opportunities and financing needs along the chain.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Impact<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The Amazon Andes Fund aims to make forest-positive economic systems more economically viable and competitive than extractive alternatives across the Andean Amazon, improving livelihoods and economic resilience while reducing pressure on forests and regenerating degraded ecosystems.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This translates into three outcomes: strengthened and consolidated sustainable Andean Amazon value chains, improved livelihoods and economic resilience, and reduced pressure on forests, alongside a crosscutting outcome of increased local value capture across sustainable value chains.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">\u201cThe Andean Amazon doesn\u2019t lack good businesses, it lacks capital designed for how its forest economy actually works. The Lab gave us the rigor to move from seeing that gap to designing an instrument that closes it, with every structural choice tested against one question: does this keep forest standing and carbon in the ground?\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Rick Kellett, Fund Principal<\/strong><\/p>\n<\/blockquote>\n\n\n\n<h3 class=\"wp-block-heading\">Design<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Amazon Andes Fund deploys flexible capital tailored to each company\u2019s business model and financing needs. The Fund provides debt for working capital and CAPEX, particularly to expand processing capacity, strengthen teams, and grow commercial operations. Early financing needs range from approximately USD 1M to USD 1.5M, with initial debt tickets ranging from USD 500,000 to USD 900,000, and equity and quasi-equity tickets from USD 250,000 to USD 500,000. Debt features a 1-year tenor for working capital and a 5-year tenor with a 6-month grace period for equipment finance, while equity investments target a 7 to 10-year holding period. The Fund targets growth-stage companies across midstream and downstream, forest-compatible value chains in the Andean Amazon sourcing from local producers. These include consolidated chains such as cacao and coffee, and emerging chains such as a\u00e7a\u00ed and Brazil nut, with strong value-add potential.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"458\" src=\"https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/IMPAQTO-instrument-mechanics-01-1024x458.png\" alt=\"\" class=\"wp-image-126127\" srcset=\"https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/IMPAQTO-instrument-mechanics-01-1024x458.png 1024w, https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/IMPAQTO-instrument-mechanics-01-300x134.png 300w, https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/IMPAQTO-instrument-mechanics-01-1536x688.png 1536w, https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/IMPAQTO-instrument-mechanics-01-2048x917.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Pipeline<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">A Phase Zero study mapped 101 enterprises across Ecuador, Colombia, Peru and Bolivia, establishing an initial cacao pipeline while identifying adjacent opportunities in coffee, Brazil nuts, guayusa and other products. Enterprises range from small, founder-funded businesses to established companies with external equity and international sales channels. AAF will deploy debt and strategic equity according to business maturity and cash flow needs, targeting processing, branding and market access opportunities that capture greater value downstream and strengthen sourcing relationships with producers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A USD 30 million private debt and equity vehicle deploying flexible capital to develop regenerative value chains that reduce deforestation and strengthen forest livelihoods in the Andean Amazon. <\/p>\n","protected":false},"author":185,"featured_media":126381,"template":"","format":"standard","meta":{"_acf_changed":false},"programs":[395],"regions":[1811],"topics":[],"collaborations":[],"class_list":["post-126377","cpi_publications","type-cpi_publications","status-publish","format-standard","has-post-thumbnail","hentry","programs-global-innovation-lab-for-climate-finance","regions-latin-america-and-the-caribbean"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin 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American Climate Resilient Coffee Facility (LATTE)"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Overview<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Latin American Climate Resilience Coffee Facility (LATTE) developed by IDH Investment is a USD 30M senior debt (~70%) and junior first-loss (~30%) vehicle deploying junior debt and guarantees to scale resiliency financing for smallholder coffee farmers across Colombia.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Innovation<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Up to 88% of coffee-growing areas in Latin America could become unsuitable by 2050 as rising temperatures and erratic rainfall reduce yields and push cultivation higher, threatening millions of smallholder families. Climate finance flows to smallholder agrifood systems remain far below what is needed, making up less than 1% of global climate finance. In Colombia alone, approximately 563,000 Arabica smallholders require this support, but high upfront costs and the absence of land titles or credit histories make adaptation finance a particular challenge for conventional lenders. This represents a ~USD 914M financing opportunity across target smallholder farms and high-priority adaptation practices, within a broader ~USD 2.5B resilience financing opportunity across all farms and practices.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">LATTE addresses this through a systemic approach that coordinates capital, farmer incentives, and technical assistance across the value chain, aligning coffee brands, traders, and financial intermediaries around a shared, replicable model. It leverages IDH\u2019s positioning in the coffee sector, de-risking capital for local financial intermediaries so they can extend affordably priced credit to smallholders, while brand-funded incentive payments strengthen farmer cash flow.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Impact<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">LATTE aims to build a climate-resilient, low-carbon, and financially inclusive coffee sector in Latin America, delivering resilient farmer livelihoods and a secure, loweremission coffee supply. Over a five-year deployment, LATTE projects reaching 16,000 farmers with financing and technical assistance, bringing 22,400 hectares under climate-smart agriculture practices, deploying USD 28M in loan capital, avoiding or sequestering 187,000 tCO2e, and improving average yields by 17% versus baseline.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">These outcomes are expected to build a track record of improved farmer lending performance, encouraging corporates to sustain and expand incentive payments while helping establish coffee lending as a viable asset class.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">\u201cThe Lab has been instrumental in accelerating the development of LATTE\u2019s financial mechanism and providing the technical rigor needed to transform an innovative model into an investor-ready blended finance proposition, with a clearly defined investment structure, risk-sharing approach, and pathway to mobilizing private capital.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Evgenia Sokolova, Program Director, IDH Invest.<\/strong><\/p>\n<\/blockquote>\n\n\n\n<h3 class=\"wp-block-heading\">Investment Strategy<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">LATTE pre-designs specialized transition loans for financial intermediaries, including agri-fintechs, MFIs, and banks, to extend to smallholder coffee farmers, backed by LATTE\u2019s de-risking capital. LATTE provides junior\/subordinated debt and guarantees: envisioned junior debt amounts are USD 1-5M, and guarantees will make up less than 35% of the total loan book with an 8% annual fee. Financial intermediaries are selected based on geographic overlap with target brand supply sheds. The specialized transition loans finance short-term interventions such as low-carbon fertilizer and shade crop integration, medium-term interventions such as biochar, and long-term interventions such as agroforestry and farm renovation with resistant varieties.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"624\" src=\"https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/LATTE-instrument-mechanics-01-1024x624.png\" alt=\"\" class=\"wp-image-126133\" srcset=\"https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/LATTE-instrument-mechanics-01-1024x624.png 1024w, https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/LATTE-instrument-mechanics-01-300x183.png 300w, https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/LATTE-instrument-mechanics-01-1536x937.png 1536w, https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/LATTE-instrument-mechanics-01-2048x1249.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Pipeline<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">More than 10 financial intermediaries have been identified and screened across Colombia\u2019s rural lending base, sourced through IDH\u2019s reVive Hub; six were interviewed in depth, with one already in an active pilot. Together, the interviewed intermediaries manage on the order of USD 40M+ in agricultural lending today. An illustrative LATTE pipeline of approximately USD 12M to 20M is already in active conversation or in pilot phase, reaching roughly 5,000 to 9,000 coffee farmers. Examples include Confiamos (MFI, Nari\u00f1o, active pilot), Agricapital (Fintech, national, advanced conversations), and Crezcamos (MFI, multi-region, preliminary conversations).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A USD 30 million financing facility that coordinates debt and guarantees to expand climate resilience financing for smallholder coffee farmers in Colombia, aligning stakeholders across the coffee value chain to mobilize investment in farm-level adaptation.  <\/p>\n","protected":false},"author":185,"featured_media":126366,"template":"","format":"standard","meta":{"_acf_changed":false},"programs":[395],"regions":[1811],"topics":[],"collaborations":[],"class_list":["post-126365","cpi_publications","type-cpi_publications","status-publish","format-standard","has-post-thumbnail","hentry","programs-global-innovation-lab-for-climate-finance","regions-latin-america-and-the-caribbean"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 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Guarantee Group Flagship Report 2026: From Recommendations to Implementation"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\"><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Mobilizing private capital for climate and development is increasingly important for emerging markets and developing economies (EMDEs), where investment needs are growing while public budgets and fiscal space remain constrained. Climate and sustainable development investment needs are growing as the impacts and economic costs of climate change intensify. At the same time, geopolitical uncertainty, macroeconomic pressures, and shifting policy environments are making investment decisions more complex, particularly in EMDEs, where investment is most needed. By transferring defined risks, guarantees enable viable investments to access finance on suitable terms. &nbsp;<\/p>\n\n\n\n<p class=\"has-vivid-red-color has-text-color has-link-color wp-elements-1 wp-block-paragraph\"><br><strong>Green guarantees are key to mobilizing climate finance at scale<\/strong> &nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">While public budgets and fiscal space remain constrained, climate and sustainable development investment needs are rising. Mobilizing private capital is therefore critical to meeting investment needs in EMDEs. Guarantees have strong mobilization potential, with increasing pertinence for climate finance in an era of decreased ODA and constrained public budgets. The OECD\u2019s <a href=\"https:\/\/www.oecd.org\/en\/publications\/private-finance-mobilisation-report-2026_a871a032-en\/full-report\/the-private-finance-mobilisation-ecosystem-actors-and-leveraging-mechanisms_05b079fd.html\" target=\"_blank\" rel=\"noopener\">Private Finance Mobilisation Report 2026<\/a> identifies guarantees as the primary leveraging mechanism between 2021 and 2024, crowding in an annual average of USD 22.4 billion, or almost 30% of total private finance mobilized.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Innovation is also accelerating across the guarantee ecosystem. Multilateral development banks, development finance institutions, export credit agencies, and specialized providers are developing new products and delivery models across project and sovereign financing. National and regional institutions are also expanding, while local currency, portfolio and multi-guarantor structures are being tested.<br><\/p>\n\n\n\n<p class=\"has-vivid-red-color has-text-color has-link-color wp-elements-2 wp-block-paragraph\"><strong>Tracking progress toward a stronger green guarantee ecosystem<\/strong>&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Building on the Green Guarantee Group\u2019s (GGG) inaugural 2025 report, the 2026 edition examines how the market is evolving and what is needed to move guarantees from growing availability to deployment at scale.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This report measures progress against these four priorities for scaling climate-aligned guarantees in EMDEs:<\/p>\n\n\n\n<ul class=\"wp-block-list priorities-list has-custom-css wp-custom-css-13a04e3c\">\n<li>Clarifying the supervisory treatment of guarantees<\/li>\n\n\n\n<li>Expanding local-currency finance and managing FX risk<\/li>\n\n\n\n<li>Improving data transparency and knowledge sharing<\/li>\n\n\n\n<li>Strengthening national and regional guarantee capacity<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Alongside this assessment, the report combines guarantee market trend tracking, an assessment of progress on the GGG\u2019s recommendations, and the GGG\u2019s strategy and priority actions for the years ahead.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"has-vivid-red-color has-text-color has-link-color wp-elements-3 wp-block-paragraph\"><strong>Trends in the green guarantee marketplace<\/strong>&nbsp;<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-4 wp-block-paragraph\">Although the guarantee market is expanding across sectors and geographies, limited data makes it difficult to consistently trace the full chain from product availability and deployment to private capital mobilization, performance, and development impact.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The report examines where progress is being made and where barriers to greater deployment remain. Key findings highlight the need for greater regulatory clarity, stronger domestic financial markets and FX risk-management mechanisms, broader national and regional guarantee capacity, improved data transparency, and technical assistance for local institutions and supervisors.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Together, these findings reinforce the need to translate innovation into broader <s><\/s>implementation, impact, and scale. Further progress will depend not only on developing new instruments, but on addressing the regulatory, market, data, and institutional constraints that determine whether guarantees can be effectively deployed and replicated in markets where they provide genuine additionality.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">These findings point to an important shift for the guarantee ecosystem: from expanding instrument availability to ensuring effective deployment at scale and directing it toward markets where risk mitigation can generate the greatest additional investment and impact.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"has-vivid-red-color has-text-color has-link-color wp-elements-5 wp-block-paragraph\"><strong>Moving from availability to impact: Next phase for the guarantees market<\/strong>&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Scaling green guarantees will require more than creating new instruments. The next phase is about ensuring that existing and new guarantees can be deployed effectively, supported by the regulatory, institutional, financial, and technical conditions needed to mobilize private capital at scale.&nbsp;<br><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Explore the <strong>GGG 2026 Flagship Report<\/strong> or download the <strong>Executive Summary<\/strong> for insights on how the market is evolving, how far the GGG\u2019s recommendations have advanced, and the priority actions for the years ahead.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span class=\"button\"><a href=\"https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/GGG-Flagship-Report-2026.pdf\" data-type=\"link\" data-id=\"https:\/\/greenguaranteegroup.org\/reports\/green-guarantee-group-flagship-report-2026-from-recommendations-to-implementation\" target=\"_blank\" rel=\"noreferrer noopener\">Download Full Report<\/a><\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span class=\"button\"><a href=\"https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/GGG-Flagship-Report-ES.pdf\" data-type=\"link\" data-id=\"https:\/\/cpisf.sharepoint.com\/sites\/IFAReformWorkstream\/Shared%20Documents\/Forms\/AllItems.aspx?id=%2Fsites%2FIFAReformWorkstream%2FShared%20Documents%2Fp%5FGreen%20Guarantees%20Group%2F2026%2FFlagship%20report%20%2D%20Stocktake%20and%20Trend%20Tracker%2FLayout%2FExecutive%20Summary%2FGGG%20Flagship%20Report%20ES%2Epdf&amp;parent=%2Fsites%2FIFAReformWorkstream%2FShared%20Documents%2Fp%5FGreen%20Guarantees%20Group%2F2026%2FFlagship%20report%20%2D%20Stocktake%20and%20Trend%20Tracker%2FLayout%2FExecutive%20Summary\" target=\"_blank\" rel=\"noreferrer noopener\">Download Executive Summary <\/a><\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Green guarantees are one of the most effective tools for unlocking private capital.  Despite the growing availability of guarantees between 2012 and 2024, a crucial gap remains. The GGG 2026 flagship report examines the evolving guarantee landscape &#038; trends across 4 priorities.<\/p>\n","protected":false},"author":214,"featured_media":126301,"template":"","format":"standard","meta":{"_acf_changed":false},"programs":[1933],"regions":[518,1833],"topics":[871,1894,623,842,1903],"collaborations":[1912],"class_list":["post-125254","cpi_publications","type-cpi_publications","status-publish","format-standard","has-post-thumbnail","hentry","programs-green-guarantee-group","regions-developing-economies","regions-emerging-markets-and-developing-economies-emdes","topics-blended-finance","topics-climate-finance","topics-development-finance","topics-financial-innovation","topics-green-finance","collaborations-green-guarantee-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Green Guarantee Group Flagship Report 2026: From Recommendations to Implementation - CPI<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.climatepolicyinitiative.org\/publication\/green-guarantee-group-report-2026-from-recommendations-to-implementation\/\" \/>\n<meta property=\"og:locale\" content=\"pt_BR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Green Guarantee Group Flagship Report 2026: From Recommendations to Implementation - CPI\" \/>\n<meta property=\"og:description\" content=\"Green guarantees are one of the most effective tools for unlocking private capital. 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Biodiversity and Climate Fund"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Overview<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>The Mitsiry Biodiversity and Climate Fund<\/strong> is a USD 50 million blended fund developed by Miarakap and Kinom\u00e9 that deploys debt and equity alongside a USD 5 million technical assistance facility to enterprises that restore ecosystems and create jobs across Madagascar and Mozambique.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Innovation<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Extreme poverty drives nature degradation across the Southwest Indian Ocean. Households that depend on natural resources are pushed into destructive practices, and climate risks are worsening that pressure. Nature-positive enterprises offer a way out, but they cannot raise the transformative capital to grow. Commercial banks lend short and against collateral these companies rarely hold, while the patient capital they need falls between seed investors and DFIs in terms of return, ticket size, and tenor.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Mitsiry fills this gap as the first blended fund in the region to deploy both debt and equity into nature-positive SMEs. The Fund draws on a range of tailor-made instruments, from senior debt to growth equity, and selects the structure each company can best service. Ticket sizes are matched to three distinct capital gaps, running from high-growth companies too small for DFIs to market leaders looking for their first institutional investor. A technical assistance facility runs alongside every investment. It prepares companies before capital is deployed, then supports impact monitoring and scale-up once they are in the portfolio.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Impact<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Mitsiry is on track to close its first blended facility in 2026, with plans to deploy capital initially in Madagascar before expanding to Mozambique. The model can then be further replicated at a larger scale across the region and into new sectors and investment sizes.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Over a ten-year period, SMEs invested in by the Fund are projected to sustainably manage 30,000 hectares of natural ecosystems, avoid or sequester 5M tCO\u2082e, and create 10,000 jobs, roughly half of them held by women. The impact model also estimates that the Fund will help improve the livelihoods of&nbsp; 400,000 people.&nbsp;<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">\u201cThe Lab rigor gave some of our investors the confidence they needed at a decisive stage of our fundraising. Our immediate focus is to reach first close and then to launch our USD 5 million Technical Assistance Facility so that 10 to 13 SMEs get support on environmental and social standards, impact and operations alongside our investment.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Koloina Ramaromandray, Fund Director, Miarakap<\/strong><\/p>\n<\/blockquote>\n\n\n\n<h3 class=\"wp-block-heading\">Design<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Mitsiry\u2019s flexible capital structure comprises senior (60%) and junior (40%) tranches, alongside a USD 5M TA Facility. The blended fund is capitalized with equity, which is then used to finance target SMEs. The TA Facility is capitalized with grants that support SMEs in strengthening their impact and financial outcomes.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Fund deploys a mix of senior debt, revenue-based and participative loans, mezzanine debt, and growth equity with ticket sizes between USD 1M and 5M. The investment strategy focuses on four verticals where poverty, biodiversity loss, and climate risk converge: agriculture (~50%), ecotourism (~20%), renewable energy (~20%), and other NbS (~10%), segmenting the market into three SME tiers: high-growth, established, and mature.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"553\" src=\"https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/Mitsiry-instrument-mechanics-01-1024x553.png\" alt=\"\" class=\"wp-image-126136\" srcset=\"https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/Mitsiry-instrument-mechanics-01-1024x553.png 1024w, https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/Mitsiry-instrument-mechanics-01-300x162.png 300w, https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/Mitsiry-instrument-mechanics-01-1536x829.png 1536w, https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/Mitsiry-instrument-mechanics-01.png 1838w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Pipeline<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Mitsiry has identified 70 SMEs in Madagascar, 17 of which represent an investment pipeline of USD 55M to 87M and are already in active conversations or due diligence. Six are at an advanced stage.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The vehicle will deploy USD 50M into 10 to 13 SMEs, beginning in Madagascar and extending to Mozambique through partnerships with local actors to build the pipeline there. Illustrative advanced-stage deals include leading companies in spices processing, seaweed cultivation and export, renewable energy, and ecotourism.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A USD 50 million fund deploying debt and equity alongside a USD 5 million technical assistance facility to enterprises that restore ecosystems and create jobs across Madagascar and Mozambique. <\/p>\n","protected":false},"author":185,"featured_media":126244,"template":"","format":"standard","meta":{"_acf_changed":false},"programs":[395],"regions":[5],"topics":[842],"collaborations":[],"class_list":["post-126236","cpi_publications","type-cpi_publications","status-publish","format-standard","has-post-thumbnail","hentry","programs-global-innovation-lab-for-climate-finance","regions-africa","topics-financial-innovation"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Mitsiry 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Resilience through Climate Credit and Insurance for SMEs (BRACCE)"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Overview<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Brazil Resilience through Climate Credit and Insurance for SMEs (BRACCE), developed by Stone and Zurich, is a credit enhancement vehicle that bundles SME credit with embedded flood and heavy-rainfall business interruption insurance. It will launch as a USD 20M demonstration fund, with the potential to scale to USD 100M+ as the model proves itself.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Innovation<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Climate-vulnerable urban SMEs in Brazil face limited access to affordable credit and insufficient protection against climate-related losses, especially floods and heavy rainfall. Traditional lending and underwriting systems fail to account for climate hazards, leaving lenders and SMEs unprotected against business interruptions. SMEs rarely buy climate insurance on their own, and post-disaster financial recovery is slow and fragmented.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">BRACCE solves these challenges with a unique, integrated credit-insurance model for urban SMEs, combining a primary parametric trigger (under evaluation by Zurich) with indemnity recourse. Instead of relying on individual SMEs to purchase insurance voluntarily, BRACCE embeds insurance directly into the credit structure at the fund level, eliminating affordability burdens.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It integrates Stone\u2019s payment terminal data and credit history with Zurich\u2019s insurance capabilities and AdaptaBrasil municipal-level flood risk data to screen and price flood and heavy-rainfall risk at onboarding. When a covered event occurs, Zurich pays Stone directly under the policy, and Stone forgives the loan installments due during the interruption, capped at three installments per event, turning unhedged climate shocks into a shared, underwritten risk.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Impact<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">At the USD 20M demonstration phase, BRACCE models financing ~4,120 SMEs and supporting ~8,240 formal jobs, roughly 206 SMEs and 412 jobs per USD 1M invested. Scaling to USD 100M+ expands reach to ~20,600 SMEs and ~41,200 jobs, all with embedded flood cover.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The implementation pathway progressively moves from a demonstration supported by concessional capital toward a fully commercial model. Each USD 1 of impact mezzanine capital mobilizes 2.3x in commercial and first-loss capital during the demonstration phase, with USD 6M unlocking USD 14M. At scale, this increases to 4x, with USD 20M unlocking USD 80M. The concessional layer can then step away entirely, demonstrating the potential for embedded climate insurance to strengthen SME resilience at scale.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">\u201cThe Lab was crucial in broadening the range of variables and perspectives considered, enriching the project and developing the financial model that makes the instrument economically viable. Following endorsement, our immediate next steps will be to identify potential investors and partners to make the pilot possible.\u201d<\/p>\n<\/blockquote>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><strong>Carolina da Costa, Chief Impact Officer, Stone<\/strong><\/p>\n<\/blockquote>\n\n\n\n<h3 class=\"wp-block-heading\">Design<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">BRACCE is structured under Brazilian law as a receivables fund (Fundo de Investimento em Direitos Credit\u00f3rios \u2013 FIDC). Capital from credit investors is deployed to SMEs in the form of loans originated through Stone\u2019s existing client and payment-terminal channels, with the resulting receivables assigned to the fund. Part of the credit spread earned on the loan payments is automatically directed to pay Zurich insurance premiums, embedding business interruption and climate insurance coverage directly into the credit product.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The investment strategy executes across three phases (Demonstration, Scaling, and Commercial), scaling total fund capacity from USD 20M to USD 100M+. Lead partner Stone Co. provides a 10% first-loss equity position across all phases to de-risk senior\/mezzanine investors. In comparison, the concessional share falls from 30% to 20%, then to zero as commercial investor participation grows. Base-case demonstration-phase IRRs are 18.2% (Senior), 16.5% (Mezzanine) and 14.7% (Junior). Educational support is delivered to SMEs via an app.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"338\" src=\"https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/BRACCE-instrument-mechanics-01-1024x338.png\" alt=\"\" class=\"wp-image-126124\" srcset=\"https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/BRACCE-instrument-mechanics-01-1024x338.png 1024w, https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/BRACCE-instrument-mechanics-01-300x99.png 300w, https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/BRACCE-instrument-mechanics-01-1536x507.png 1536w, https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/BRACCE-instrument-mechanics-01-2048x676.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Pipeline<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">BRACCE originates from Stone\u2019s existing SME base of 4.7M clients and a USD 560M credit portfolio, with USD 24M (4.3%) exposed to very high vulnerability to floods and heavy rainfall. The demonstration phase draws on that book, blended with medium-vulnerability areas, to keep the pool insurable, and scaling applies the same mix across Stone\u2019s national footprint.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Eligibility is screened against Stone\u2019s E&amp;S procedures, DFI exclusion lists, and municipal-level flood risk before onboarding. Around 75% of active credit clients are in Retail Trade and Food &amp; Beverage, whose shared profile of fixed premises, daily cash flow, and local customers allows flood loss to be priced once rather than on a borrower-by-borrower basis. Capital revolves every six months, in alignment with underlying asset tenors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A private debt vehicle (FIDC), with the potential to scale to USD 100M+, that bundles credit with flood and heavy-rainfall business interruption insurance for SMEs in Brazil.  <\/p>\n","protected":false},"author":185,"featured_media":126223,"template":"","format":"standard","meta":{"_acf_changed":false},"programs":[395],"regions":[353],"topics":[842],"collaborations":[],"class_list":["post-126221","cpi_publications","type-cpi_publications","status-publish","format-standard","has-post-thumbnail","hentry","programs-global-innovation-lab-for-climate-finance","regions-brazil","topics-financial-innovation"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Brazil Resilience through Climate Credit and Insurance for SMEs (BRACCE) - CPI<\/title>\n<meta name=\"robots\" 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Climate-linked Agri Lending Ecosystem (SCALE)"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Overview<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Secured Climate-linked Agri Lending Ecosystem (SCALE)<\/strong>, developed by IFPRI and Dvara E-Registry, is a USD 90 million credit facility that uses existing agricultural lending channels to reward farmers for verified adoption of climate-smart practices, combining credit, insurance support, and performance-linked principal repayment to reduce the risks and financial barriers to adoption.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Innovation<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">India\u2019s smallholder farmers face a self-reinforcing investment barrier: those most exposed to climate risk often lack the collateral, formal credit history, risk mitigation mechanism, and technical support needed to finance climate-smart agriculture (CSA). Lenders perceive these farmers as high risk, while farmers cannot invest in practices that could reduce yield volatility and improve resilience because they lack affordable capital. Existing solutions tend to address credit, insurance, or advisory needs separately, leaving key risks unresolved.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">SCALE addresses these barriers by integrating credit, risk transfer, CSA advisory, and technology-enabled monitoring in one solution. Satellite-derived farm activity, yield, and cash-flow data provide alternative indicators of creditworthiness for farmers with limited credit histories, while AI and smartphone imagery lower monitoring and loss-verification costs. This integrated approach is designed to expand finance to underserved farmers while making CSA lending more commercially viable and scalable.&nbsp;<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">\u201cThe Lab process and our amazing Lab analysts pushed us to carefully assess climate additionality, model our expected impacts, understand the level of concessional versus commercial capital required, and develop a concise pitch for investors. Our immediate next step is to start A\/B testing of various incentives to encourage adoption of climate smart agriculture (CSA) in the context of smallholder lending, demonstrating the risk-reducing effects of CSA for lenders and insurers and verifying that our CSA practices and technologies work for both women and men.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Berber Kramer, Senior Research Fellow, International Food Policy Research Institute (IFPRI)<\/strong><\/p>\n<\/blockquote>\n\n\n\n<h3 class=\"wp-block-heading\">Impact<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The vehicle aims to expand access to finance for up to 120,000 smallholder and marginal farmers, with all loans featuring women borrowers, supporting greater social and financial inclusion and increased adoption of climate-smart agriculture. It is designed to improve climate resilience and foster more stable livelihoods, while reducing annual agricultural emissions by over 32,500 tCO2e and saving an estimated 75,000 ML of water every year. &nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It will initially pilot with around 20,000 farmers in the states of Maharashtra and Odisha, focusing on crops including rice, soybean, Bengal gram, and cotton. Following the pilot, the vehicle plans to scale into Rajasthan and Madhya Pradesh, expanding to tenant cultivators and other farmers underserved by formal credit.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Design<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The vehicle combines a credit facility with farm-level indemnity linked insurance to finance CSA adoption. Commercial capital primarily funds the lending pool, while grant funding supports insurance affordability, incentives for verified CSA adoption, and targeted advisory services.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Loans finance eligible CSA inputs and practices, while insurance protects farmers against verified climate-related losses, reducing risk. The investment strategy uses grants during the pilot to demonstrate uptake and absorb transition costs, with approximately 94% of capital coming from commercial lenders.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As the vehicle scales and operating efficiencies, farmer uptake, and data quality improve, grant support is expected to decline, enabling a transition toward fully commercial funding.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"641\" src=\"https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/India-SCALE-instrument-mechanics-01-1024x641.png\" alt=\"\" class=\"wp-image-126130\" srcset=\"https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/India-SCALE-instrument-mechanics-01-1024x641.png 1024w, https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/India-SCALE-instrument-mechanics-01-300x188.png 300w, https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/India-SCALE-instrument-mechanics-01-1536x961.png 1536w, https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/India-SCALE-instrument-mechanics-01-2048x1281.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Pipeline<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The vehicle will deploy capital through a phased approach, beginning with the pilot before scaling to additional farmers and geographies. Loans of approximately USD 700 per farmer will finance eligible CSA practices and inputs, including alternate wetting and drying, direct-seeded rice, drip irrigation, bio-inputs, and stress-tolerant crop varieties.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The pilot will leverage Dvara E-Registry\u2019s existing farmer networks and lending partnerships with MFI, banks, and other NBFCs. Following the impact validation on repayment, CSA adoption, insurance performance, and technology accuracy, deployment will expand to additional geographies.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Dvara E-Registry is expected to initiate lending through its own books once the NBFC license is secured, allowing for increased control over lending terms and use of proceeds for CSA adoption against differential interest rate offerings.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A USD 90 million credit facility that uses existing agricultural lending channels to reward farmers for verified adoption of climate-smart practices in India. 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Industrial Decarbonization Accelerator (VIDA)"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Overview<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">VIDA, created by Allotrope, is a USD 24.5M private debt fund designed to provide financing to mid-sized project developers bringing renewable energy solutions intoVietnam\u2019s industrial parks prior to the final investment decision (FID).<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Innovation<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u200b\u200b\u200bShifting policy and market factors in Vietnam signal new opportunities for accelerating clean energy investment. The introduction\u200b\u200b of the Direct Power Purchase Agreement (DPPA) framework in Vietnam allows for\u200b off-site renewable \u200belectricity \u200b\u200bprocurement\u200b and\u200b \u200bdemand \u200bis \u200bgrowing\u200b \u200bfor renewable energy solutions in industrial parks. However, qualified and bankable projects remain limited. \u200bThe smaller and risk\u200bier renewable energy projects needed to decarbonize Vietnam\u2019s vast network of industrial parks \u200b\u200bare left to mid-sized project developers who lack the balance sheets to fund them. T\u200b\u200bhese developers lack specialist capacity to improve project bankability and structure industrial offtake. As a result, many otherwise viable renewable energy projects in industrial parks remain undeveloped. \u200b&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u200b\u200bVietnam Industrial Decarbonization Accelerator (VIDA) addresses challenges faced by mid-sized project developers by providing loans that cover project development costs incurred before final investment decision (FID), alongside de-risking support to improve project bankability and connect developers with industrial parks and tenants. By absorbing early-stage risk and helping projects become investment-ready, VIDA creates a pipeline of bankable commercial and industrial renewable energy solutions for industrial parks\u200b across \u200bVietnam\u200b\u200b.\u200b&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Impact<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u200b\u200b\u200bAt scale, \u200b\u200bVIDA aims to accelerate industrial decarbonization in Vietnam by building a pipeline of bankable renewable energy projects in Vietnam\u2019s industrial parks. \u200b\u200b\u200b\u200bVIDA is expected to help avoid or reduce \u200b\u200bmore than \u200b\u200b193,000 tCO\u2082e annually, generate approximately 294,000 MWh of renewable energy per year, and support approximately 1,800 direct job-years.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Implementation will begin with a USD 6.4 million pilot\u200b\u200b\u200b\u200b\u200b\u200b, followed by a planned USD 24.5 million \u200bfund to \u200bscale\u200b\u200b impact\u200b\u200b\u200b as the model demonstrates results.&nbsp;<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">\u201cInsights from CPI\u2019s expert advisors and a Working Group of leading organizations helped us refine VIDA\u2019s concept and financial model, incorporate real-world market feedback, and confirm our pathway to scaling low-carbon solutions across Viet Nam\u2019s industrial parks. Allotrope is now exploring partnerships and funding opportunities to support VIDA\u2019s successful launch and implementation\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Rob Hardison, VIDA Lead, Allotrope Partners<\/strong><\/p>\n<\/blockquote>\n\n\n\n<h3 class=\"wp-block-heading\">Design<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">VIDA\u2019s pilot targets commercial and industrial rooftop solar and battery storage projects averaging 5 MWp, and later scaling to 10 MWp and larger solutions that include clean heat, energy efficiency, waste-to-energy, and other decarbonization solutions across industrial parks.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The average \u200bpilot \u200bticket size is USD 350,000 and loans cover between 75% to 90% of project development costs. Projects that reach financial close repay loans at a multiple of 1.5.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">VIDA pairs this financing with support to de-risk projects, including offtaker credit diligence, technical and financial model validation; credit enhancement instruments; as well as support to connect project developers with industrial park owners and tenants, helping projects become ready for commercial financing in later stages.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"2550\" height=\"1042\" src=\"https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/VIDA-instrument-mechanics-01.png\" alt=\"\" class=\"wp-image-126118\" srcset=\"https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/VIDA-instrument-mechanics-01.png 2550w, https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/VIDA-instrument-mechanics-01-300x123.png 300w, https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/VIDA-instrument-mechanics-01-1024x418.png 1024w, https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/VIDA-instrument-mechanics-01-1536x628.png 1536w, https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2026\/10\/VIDA-instrument-mechanics-01-2048x837.png 2048w\" sizes=\"auto, (max-width: 2550px) 100vw, 2550px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Pipeline<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Under the pilot fund, VIDA is partnering with Kinh Bac City Development Holding Corp. (KBC), a major industrial park owner-operator, to implement three initial projects in its portfolio of industrial parks.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Following the initial projects, VIDA\u2019s pipeline will be built through a developer-led origination process, with an estimated 20-25 qualified mid-sized project developers eligible to submit project applications that will be screened against defined technical, financial, and offtaker criteria.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u200b\u200b\u200b\u200b\u200b\u200b\u200b\u200bKBC\u2019s portfolio presents a potential pipeline across \u200b\u200beight industrial parks\u200b\u200b, representing approximately USD 64 million in potential project investment, 120 MWp of solar, and 40 MWh of battery storage. The pipeline includes 16 potential off-takers and targets 47 tenants, many of which are linked to major global brands.\u200b\u200b\u200b\u200b\u200b<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u200b\u200b\u200b\u200b\u200b\u200b\u200bThe addressable market comprises an estimated 115 priority industrial parks, consuming approximately 24 TWh of annual electricity demand and representing roughly 20% of Vietnam\u2019s more than 600 operating and in-development parks.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A USD 24.5 million private debt fund financing mid-sized project developers bringing renewable energy solutions to Viet Nam\u2019s industrial 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