Antonio Neto: Brazil developing carbon calculator for mortgages

A carbon emissions calculator for mortgages is being developed in Brazil, Antonio Francisco da Costa e Silva Neto, head of the International Department at the Brazilian Ministry of Cities, said at a session at WUF13, Report informs.

He stated that the new tool will allow banks, primarily state-owned ones, to assess the carbon footprint of the construction projects they finance: "Obviously, we won't be replacing old buildings, but we are trying to ensure the energy efficiency of new ones. Specifically, in the mortgage lending sector, we are developing a carbon emissions calculator. Banks, especially state-owned ones, that finance construction will use this tool to evaluate projects. This means they will explore the possibility of using various solutions and approaches to reduce carbon emissions."

Neto also noted that in Brazil, municipalities, of which there are 5,600 across the country, are responsible for climate-related construction indicators.

"We will not implement a unified building code at the national level, as this is impractical in Brazil due to regional and local differences. However, we want to create a framework that will help municipalities modernize their systems, reduce bureaucracy, and expedite the issuance of building permits," he emphasized.