Brazil’s Continuing Work for Climate Change

Brazil has been a significant player in the global fight against climate change. Since hosting the pivotal Earth Summit in 1992, formally known as the United Nations Conference on Environment and Development (UNCED), Brazil has demonstrated its commitment to environmental sustainability and climate action. 

Brazil’s nationally determined contribution (NDC) targets a 53% reduction in greenhouse gas emissions by 2030 compared to 2005 levels, and aims for carbon neutrality (net-zero emissions) by 2050. The NDC also focuses on enhancing water, energy, and food security, as well as improving social and environmental security. Additionally, it seeks to boost social benefits to ensure the climate resilience of the population and infrastructure.

“The success of this initiative can be attributed to several factors, including Brazil’s strong commitment to sustainability, the robust framework established for the bond, and the collaborative efforts between the World Bank, the Inter-American Development Bank, and the Brazilian government. From tackling deforestation and protecting biodiversity to supporting clean energy access and combating poverty, the bond’s proceeds directly align with Brazil’s National Determined Contributions and its broader development agenda,” says Johannes Zutt, World Bank Country Director for Brazil.

This commitment is underscored by its active participation in annual UN Climate Change Conferences (COP) and its forthcoming role as host for the COP30 meeting in Belém in November 2025. This event is particularly crucial as nations are expected to present their updated national plans to combat climate change. 

Belém holds strategic importance as it hosted a two-day summit in August 2023. Leaders from South American nations such as Brazil, Colombia, and Bolivia, which are home to the Amazon, called on developed countries to take greater action in halting the extensive destruction of the world’s largest rainforest. They emphasized that this responsibility should not rest solely on a few countries, especially when the crisis has been driven by many.

“The forest unites us. It is time to look at the heart of our continent and consolidate, once and for all, our Amazon identity,” said Brazilian President Luiz Inácio Lula da Silva. “In an international system that was not built by us, we were historically relegated to a subordinate place as a supplier of raw materials. A just ecological transition will allow us to change this.”

Supporting Brazil’s Climate Initiatives

Developing countries like Brazil often face financial and technical constraints in implementing climate policies. International organizations, developed nations, and private sector stakeholders can provide financial aid and technical support to Brazil. This could involve funding for renewable energy projects, technology transfer for sustainable agriculture, and investments in green infrastructure.

USAID has been helping Brazil’s conservation initiatives through a fruitful collaboration with the Brazilian government, civil society, and private sector partners. This extensive partnership spans 189 protected areas, with 32% designated as Indigenous lands. In 2022, this joint effort successfully avoided 23 million metric tons of CO2 equivalent greenhouse gas emissions and enhanced the management of 117 protected areas covering 47.9 million hectares, among other accomplishments.

Strengthening the capacity of Brazilian institutions to address climate change is also vital. International collaborations with universities and research institutions can also foster innovation and knowledge sharing.

Brazil will also host the upcoming Horasis Global Meeting in Vitória, the state capital of Espírito Santo, from October 25-26, 2024. This two-day event will gather leaders from businesses and governments to address pressing global challenges, including climate change, inequality, and peace.

Controlling Major Polluters

Implementing and enforcing stricter regulations on major polluters, particularly in industries such as energy, transportation, and manufacturing should be looked into. This can include setting emissions caps, mandating the use of clean technologies and imposing penalties for non-compliance. 

Providing economic incentives for businesses to reduce their carbon footprint can drive significant change. Tax breaks, subsidies and grants for companies that invest in renewable energy, energy efficiency and sustainable practices can encourage the private sector to adopt greener operations. 

The Brazilian government has launched ProGD (Program for the Development of Distributed Generation of Electric Energy), offering financing options and tax incentives to companies and projects that promote environmental sustainability. This initiative aims to encourage investment in green practices, enhancing global competitiveness, and attracting foreign investors.

Enhancing corporate accountability through reporting requirements and transparency initiatives can compel companies to prioritize sustainability. In March 2024, the Banco Central do Brasil initiated a public consultation on proposed changes to its climate risk disclosure regulations. These proposals include new quantitative requirements for ESG aspects, standardized templates for metrics and targets, and mandatory annual disclosures by institutions within Brazil’s national financial system.

Brazil’s role in the global fight against climate change is significant and ongoing. As nations prepare to present their national plans at the COP30 meeting in Belém, it is crucial that we work collectively to address the climate crisis, leveraging the strengths and resources of all stakeholders to achieve our global climate goals.

Photo Caption: Forest land and river in Brazil.