Fundo Vale’s Liz Lacerda was present at the launch of a report by the Aspen Network of Development Entrepreneurs (ANDE) called “Impact Investment in Brazil: 2021,” held in May at Aya Hub in São Paulo. The report provides the latest available snapshot of the impact investing market, based on conversations with 38 organizations that are investing in Brazil. The document provides an overview of the sector as of 2021 and it is an important tool for analyzing the context and making decisions for collective action in this area.

The launch event featured two panel discussions: one about impact investing in general, and the other focused specifically on climate and biodiversity. The speakers were Flora Bracco, Itali Pedroni Collini, Beto Scretas, Jéssica Silva Rios, Ricardo Gravina, André Petick Dias, Liz Lacerda and Henrique Bussacos. In the panel discussion focused on climate and biodiversity, Liz Lacerda, together with André Dias of the Boticário Foundation and Ricardo Gravina of Climate Ventures, presented impact investing’s opportunities and challenges, based on conclusions from the report and their organizations’ experience. Regarding the relevance of this type of research, Liz Lacerda, Fundo Vale’s sustainability analyst, says, “Fundo Vale recognizes the importance of this study, as it provides an overview of impact investments in Brazil and shows how Fundo Vale works, supporting businesses with positive social and environmental impacts. We are keen to understand how this ecosystem and its investments are evolving over time. It is very important for us to have the data and all the information duly evaluated and studied. Our

investments are focused on impact businesses related to forests and climate. Therefore, having this report with the support of Fundo Vale is essential to guide our work, so that we understand investment gaps, challenges and opportunities.”