New rainfall records were registered in the southeastern region of Brazil during February 2023. The amount of rain in the north coast region of the State of São Paulo was more than 650 mm in less than two days. Landslides and tragedies with a socioeconomically vulnerable population marked this climatic extreme. The country has a regulatory system that suggests the elaboration and implementation of municipal public policies aimed at territorial organization, environmental conservation, and the prevention of disasters induced by natural hazards. In addition, both federal and state funds earmarked for such hazard's prevention have been underutilized over the last decade. In addition to this current devastating climate episode, other events were registered in this decade, reinforcing that financial governance is a key challenge to face the climate crisis in Brazil. The predicted future extreme events in different regions of Brazil will require a different governance system to minimize social inequality, seek sustainable alternatives for urban environments and manage to adapt cities for the challenges posed by climate change.
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