The 26th United Nations Climate Change Conference (COP 26 – acronym in english for Conference Of The Parties), held in Glasgow, Scotland, brought together 190 countries to discuss energy measures to combat global warming. During the conference, Brazil announced its goals and proposals for the coming years.
According to the climate specialist organization Carbon Brief, Brazil is the fourth largest contributor to CO₂ emissions in the world. The country is executing the National Green Growth Program, administered by the Interministerial Committee on Climate Change and Green Growth, responsible for planning, executing and controlling actions and results.
The conference also put in place strategies and plans, through the Ministry of the Environment, to improve the environment and neutralize carbon. Some of these strategies include: ending illegal deforestation by 2028, restoring and reforesting 18 million hectares of forests by 2030, achieving a share of 45% to 50% of renewable energy in the energy mix by 2030, recovering 30 million hectares of degraded pastures and encouraging the expansion of the railway network.
With a third of the world's opportunities linked to forests located in Brazil, the country has the potential to stand out in the green market, with a profit forecast of up to US 1TP4Q100 billion by 2030, according to McKinsey & Company. Brazil has the potential to offer 15% of nature-based solutions and, so far, the carbon reduction goals and proposals are being met and expanding spaces for a green economy.
In 2022, the National Development Bank (BNDES - original acronym in Portuguese) created the Public Call Notice for the Acquisition of Clean and Renewable Energy, representing an opportunity for companies and organizations to invest in clean and renewable energy sources, such as solar energy and wind. The intention of the Notice is to encourage the production of clean and renewable energy in the country, in addition to contributing to the reduction of greenhouse gas emissions. The Public Notice offers favorable financial conditions for enterprises that seek to invest in renewable energy sources, helping to accelerate the transition process to a cleaner and more sustainable energy matrix.
In addition, the Announcement also aims to stimulate innovation and the development of new renewable energy generation technologies. The BNDES hopes that the initiative will promote the participation of companies and organizations from different sectors, including industry, agriculture, commerce and services.
Adherence to the Notice is voluntary and the proposals will be evaluated by a technical committee, which will evaluate criteria such as technical and financial viability, in addition to the contribution to the reduction of greenhouse gas emissions. Those who stand out in the evaluation may receive BNDES financing for the implementation of their projects. The BNDES also informed that in its next steps, the projects will undergo due diligence, which will consider technical and legal evaluations, to be carried out by teams from the financial institution itself.
The Economic Affairs Committee of the Federal Senate of Brazil is also in the process of approving the bill that regulates the Brazilian Market for Reducing Emissions (MBRE – original acronym in Portuguese) of gases that cause the greenhouse effect. Provided for in Law 12,187, of 2009 – which deals with the National Policy on Climate Change – the MBRE will be operated on commodity and futures exchanges, stock exchanges and organized over-the-counter entities, authorized by the Securities and Exchange Commission, where securities will be traded furniture representative of certified avoided greenhouse gas emissions.
Also considering the debates at COP 27, held in Egypt in 2022, Brazilian plans continue to make sustainable progress for the preservation and international relations segments. During COP 27, Brazil remained one of the highlighted countries, defining future objectives and existing proposals since 2015, such as new ideas and global expansion projects in social, economic and sustainable environments that are priorities from the beginning of 2023. Launched at the conference, the Agenda Brasil + Sustentável is one of the documents that present the measures adopted, in line with the 17 Sustainable Development Goals (SDGs) of the United Nations. More than 800 actions are listed in Agenda + Brasil, in partnership with Auxílio Brasil, Plano Safra, Marco Legal do Saneamento, among others.
In addition, the meeting featured specific projects that will help to achieve goals set for the year 2030, such as the Electrification of Transport, which has its projects extended until the year 2050.
Presenting ever stronger targets for the reduction of emissions for 2030, with targets for reductions and environmental protections until the results can be reflected in reductions in global warming, Brazil follows the ambitious and hopeful path towards compliance signed at COP 27.
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