Brazil will be focused on seeking nature-based solutions at the UN Cop 30 climate summit later this year aimed at drawing private and public investments to reduce emissions below 1.5ºC, according to the Brazilian Business Council for Sustainable Development (CEBDS).
Brazil can deliver the nature-based solutions necessary to reach global mitigation goals, such as regenerative agriculture and bioeconomy, CEBDS’s president Marina Grossi said at a climate summit in Sao Paulo on Tuesday.
“As energy demand will double in the next 10 years, it does not matter what kind of energy it will be supplied as long as it is energy”, Grossi added.
Theenergy transition agenda faces global challenges to draw investments from private sectors and should seek to coordinate with forest, agriculture, mining, transportation and cattle raising sectors, according to Grossi.
She also pointed out that investments from banks such as development bank Bndes, the Interamerican Development Bank (IDB) and the Development Bank of Latin America and the Caribbean (CAF), should be more innovative about environmental impacts, instead of financing small impact projects. While countries in the so-called Global South have clear advantages in the energy transition agenda, due to wider resources reserves and developing infrastructure, investments from the private sector must prevail to make the agenda more viable.
“The goal is to have a state agenda, rather than a left- or right-wing agenda”, Grossi said, mentioning the influence of private sectors on the government agenda ahead of Brazil’s presidential elections in 2026.
Regarding private investments, attributing value to sustainable projects remains a hurdle, the head of sustainable solutions in the Americas of global financing group SMBC’s Dolph Habeck said. He added that engaging in both social and financial benefits to promote decarbonization among private investors, who can focus on financial returns and moral obligations with the environment, is vital.
“Brazil has one of the most ambitious, entrepreneurial environments I have ever seen,” he said. “And so does Latin America when it comes to sustainability focused on morality and finance.”
Besides environmental targets, Cop 30, which is slated for November, will also address a social agenda, especially regarding the rights of indigenous and traditional peoples.