This Center for Sustainability Studies at Fundação Getulio Vargas technical paper, produced in partnership with Morphosis and Instituto Itaúsa, offers a country-specific diagnostic grounded in qualitative research, including interviews with financial institutions and businesses, and analysis of public policy documents. It seeks to understand how different actors, government, financial institutions, and the real economy, define the adaptation challenge, perceive their roles, and interact with existing financial instruments and regulatory frameworks.
The work builds on the evolving literature on adaptation finance and policy processes, applying the Multiple Streams Framework to explore why consistent public policies to unlock private capital for adaptation have struggled to emerge in Brazil. It highlights the misalignment between actors’ definitions of the problem, proposed solutions, and expectations of government action, and how this divergence has kept the policy window closed.
Although exploratory in nature, this case study offers a structured narrative that integrates fragmented perspectives into a coherent analytical framework. It aims to inform policymakers, investors, and researchers about the strategic misalignments that hinder scale and coordination, and to support the development of more effective, context-sensitive strategies for advancing adaptation finance in Brazil.
%201.svg)