Brazil will take the lead in the challenge of reducing emissions, says minister after COP26

The Minister of Environment, Joaquim Leite, told the CNN this Saturday (13) that Brazil “will come out ahead” of other countries in the global challenge to reduce gas emissions, the so-called carbon neutrality by the year 2050 — one of the agreements in the final report of the COP26.

“We laid the foundations for the green growth program with 10 ministries, and it is an inter-ministerial committee that looks at reducing emissions/carbon neutrality by 2050, conserving native forests and rationally using natural resources,” he said.

TO CNN, after the end of COP26, in Glasgow, Scotland, and approval of the new global climate agreement, Leite highlighted that the country “was a leader” in articulations on the carbon market, one of the federal government’s bets on the meeting.

“In almost all Brazilian biomes you will be able to generate carbon credits for protecting the native forest. The private sector is going to develop projects, and our objective is to export credits”, he evaluated. “We were praised for our performance, as we played a leading role in the carbon market. Representatives from China, the European Union and the USA came to our stand, making Brazil’s participation clear.”

The minister of the Environment highlighted that, in addition to the conservation of native forests, Brazil has two sectors that will be “exporters” of carbon credits: paper/cellulose and ethanol, according to him.

“Two examples sectors for the world, which will certainly generate carbon credits, generate more sustainable projects and green jobs for Brazil. That was the challenge we had at COP26”, he concluded.

Carbon credits

One of the main discussions held at COP26 was about carbon credit. The reason for the debate is that this market can be an alternative to help countries and companies to reduce the emission of greenhouse gases.

The challenge of countries to keep the increase in the planet’s average temperature below 2ºC is a central point at the conference. And one of the ways is precisely to turn emissions into business.

Nations and companies have environmental goals. In this way, those who manage to reduce pollution beyond these goals by reducing carbon emissions generate credits and have the right to sell the surplus.

The logic is to encourage sectors of the economy to decarbonise. In Brazil, the estimate is that the carbon market can bring revenues of up to US$ 100 billion to Brazil, according to a study by ICC Brasil, an arm of the International Chamber of Commerce in the country.

Reduction of fossil fuels

After a marathon of negotiations, the COP26 (United Nations Climate Conference) approved this Saturday (13), in Glasgow, Scotland, an agreement on the planet’s climate that includes, for the first time in history, a reference fossil fuels and their role in the climate crisis.

The final text explicitly points to coal, which is the single largest contributor to climate change. In all 25 previous COPs, no agreement had ever mentioned coal, oil or gas, or even fossil fuels in general, as the drivers — let alone the main cause — of the climate crisis.

Moved, the president of COP26, Alok Sharma, announced the agreement with hammer blows. He orally amended the most recent draft text by softening the language around fossil fuels after objections made by India and Iran. The final deal refers to a “reduction” of coal rather than an “elimination”.

There were deep divisions among nations over key issues, including the use of fossil fuel terms and the amount of money the developed world should pay the Global South to help it adapt to the climate crisis. This prevented the summit from ending on Friday (12), the date initially scheduled for its closing.

(*With information from Isabella Faria, from CNN)