Milken Institute hosts São Paulo meetings to showcase sustainable investment opportunities
12/02/2024
Executives from the Milken Institute, an American think tank that connects philanthropists and investors globally, are holding their first major event in São Paulo this week. The gathering brings together entrepreneurs, CEOs, public officials, and environmental specialists to explore investment opportunities, particularly in climate change initiatives. Brazil’s burgeoning carbon credit market is a key focus for the institute.
The Milken Institute, a non-profit organization, hosts high-profile conferences in cities like Singapore, London, Abu Dhabi, New York, Washington, and Los Angeles to tackle global challenges with innovative ideas.
“Within the institute, there is a network of more than 400 pension funds, sovereign wealth funds, and family offices managing a collective allocation of approximately $34 trillion,” said Rodrigo Bettini, senior advisor and head of the institute’s Latin America division.
“They attend our events to meet people and learn about advancements in diverse sectors such as agribusiness, AI, finance, education, and climate.” These meetings also attract professionals seeking capital injections for their projects.
Around 150 participants are expected at the São Paulo events, including a dinner on Monday and a breakfast on Wednesday. “Our goal is to guide foreign investors toward sustainability opportunities in Brazil,” said Daniella Levy, head of the institute in Brazil. Another aim is to strengthen relationships with Brazilians who could join the institute’s flagship annual conference in Los Angeles.
The Milken Institute was founded by Mike Milken, a prominent figure in the U.S. financial market during the 1980s. Convicted of securities law violations, Mr. Milken served time in prison and was granted clemency in 2020 by then-President Donald Trump. Today, he focuses on the institute, where he serves as chairman, and on the Milken Center for Advancing the American Dream.
Ms. Levy, Mr. Bettini, and the institute’s CEO, Richard Ditizio, are spearheading this week’s discussions. Mr. Bettini highlighted Mr. Ditizio’s positive impression of Brazil during a visit in January. “He was struck by the breadth of actions and policies here addressing sustainability and ESG standards,” said Mr. Bettini. “In our opinion, Brazil is advancing in sustainability, technology, fintech, and infrastructure in innovative ways, but the world isn’t aware of these developments.”
The institute aims to expand global awareness of Brazil’s innovations, “channel more foreign investment into the country, and support these initiatives on a global scale,” said Mr. Bettini. A key focus is the carbon credit market, seen as a transformative opportunity for the nation.
“We believe Brazil will be the Saudi Arabia of the carbon credit market, and we are confident this sector will revolutionize and create significant socio-economic opportunities for Brazilians,” said Mr. Bettini.
In November, the Chamber of Deputies (Brazil’s Lower House) approved a bill establishing rules for the carbon credit market, following its earlier passage in the Senate. The formalization of these rules has been highly anticipated, with Brazil widely recognized for its immense potential in carbon projects.
The agenda for the two meetings, hosted at a São Paulo hotel, will cover themes such as sustainability, environmental preservation, economic growth, living conditions in the Amazon, and strategies to attract foreign investment. These topics are expected to gain further prominence in 2025 when Brazil hosts COP30 in Belém.
By Marcos de Moura Souza
Source: Valor International