We are thrilled to announce Guaraná Bank’s participation in Bank of America Breakthrough Lab®.
We are the first Brazilian startup chosen to participate in the program and are proud to be a part of the 2023-2024 cohort.
COP27 Energy Day Focuses on Balancing Energy Trilemma
Sharm El-Sheikh, Egypt, 15 November 2022 – The COP27 Presidency initiative to present pathways for an Africa Just and Affordable Energy Transition Initiative (AJAETI) was launched at Energy Day. The initiative focuses on solutions to help Africa overcome the energy transition dilemma by identifying risks, and opportunities, and empower the critical enablers that are required to succeed.
COP27 Energy Day facilitated discussions on key elements facing the energy sector. The discussions included the role that renewables, smart grids, energy efficiency and energy storage may play within a comprehensive energy ecosystems that would evolve and transform the energy sector for a just energy transition.
Commenting on Energy Day, COP27 President H.E. Shoukry said: “Energy is one of the most carbon-intensive sectors in any given economy, making it one of the most important areas to effect meaningful mitigation measures that contribute to addressing climate change and transitioning to a green economy for the future. Science is clear: global emissions need to be reduced by half by 2030, reaching net-zero by 2050. To achieve this, we need to invest in new sources of energy that are clean, affordable, accessible, sustainable, and reliable.”
Decarbonization Day at COP27 Calls for Urgent Action to Reduce Emissions
Sharm El-Sheikh, Egypt, 11 November 2022 – COP27’s thematic day dedicated to Decarbonization called for urgent action to reduce emissions across industry with a specific focus on the most carbon intensive sectors including steel, oil, gas, and fertilizers. The agenda featured several sessions that launched initiatives including the Sharm El Sheikh Methane Reduction Roadmap and East Mediterranean Gas Forum decarbonization initiative.
“The climate crisis is existential, overriding and ever present and we need to look at every piece of the puzzle, including the decarbonization of the industrial sectors that underpin the global economy,” said COP27 President H.E. Sameh Shoukry, commenting on Decarbonization Day. “Today’s activities provided a significant opportunity to discuss critical plans and policies needed to reduce carbon footprints, particularly in hard-to-abate sectors. We hope the conversations today help facilitate the much-needed transition to and low carbon economy”.
“The Decarbonization Challenge” started the day’s agenda and included remarks by John Kerry, U.S. Special Presidential Envoy for Climate; H.E. Tarek El Molla, Egypt’s Minister of Petroleum and Mineral Resources; H.E. Ahmed Samir, Egypt’s Minister of Trade and Industry; and Gerd Müller, Director-General UNIDO.
Young Change-Makers from more than 140 Countries Participate in 17th Climate Change Conference of Youth
Sharm El-Sheikh, Egypt, November 6, 2022 - Over a thousand young people from more than 140 countries closed out the three-day Climate Change Conference of Youth (COY17) just days before the official opening of the United Nations Climate Change Conference (COP27) in Sharm El-Sheikh, Egypt.
The Climate Change Conference of Youth is an annual event under the banner of YOUNGO – the Official Youth Constituency of the United Nations Framework Convention on Climate Change (UNFCCC). Its 17th edition was organized and led by five Egyptian youth organizations namely: Act—Sustainable, El Emam Foundation, Enviro-X, Youthink Green Egypt, and Youth Loves Egypt, with the support of the Egyptian Ministry of Youth and Sports and endorsed by the COP President Designate.
“Young people are the Plan A and only plan in this most difficult moment, and their voices are needed to fight against backsliding, delay or deprioritization of climate action,” said Ambassador Aboulmagd added, the COP27 President Special Representative.
Featuring 68 workshops, panel discussions and side events held over three days, COY serves as a space for capacity building and policy development to prepare young people for their participation at COP, thereby empowering them and formally bringing their voices to the UNFCCC processes.
Sustainable Development Goals
We deem all investments through Guaraná Bank to have a positive impact on the Sustainable Development Goals, which were formed by the United Nations Development Programe (UNDP). Our portfolio will have a direct impact on Goal 7, 9, 11 and 13:
The additional impact will not always be the same since we are financing a wide range of companies with different business models, technology and customer segments. By looking at each company individually and benchmarking it against the Sustainable Development Goals, we hope to give you a better overview of the impact that our solar partners are achieving.
8: Decent work and economic growth
According to UNDP, small and medium-sized enterprises that engage in industrial processing and manufacturing are the most critical for the early stages of industrialization and are typically the largest job creators. They make up over 90% of businesses worldwide and account for between 50-60% of employment.
9: Industry, innovation and infrastructure
Industrialization’s job multiplication effect has a positive impact on society. UNDP found that every one job in manufacturing creates 2.2 jobs in other sectors.
11: Sustainable cities and communities
Cities have the potential to optimize their efficiency by reducing energy consumption and adopting green energy systems, according to the United Nations. By financing the switch to solar energy, we will contribute to efficiency gains and technological innovation while reducing resource and energy consumption.