The companies argue that Brazil cannot miss the opportunity to harness its vast natural wealth to fight global warming.
The Brazilian Economic Council for Sustainable Development (CEBDS), which claims to represent the companies responsible for nearly half of the South American country’s economy, has urged the government to curb illegal deforestation and tone down its stance on carbon markets, Claims that seem to be worthwhile.
Last week, Brazil surprised observers by making an international pledge to eradicate illegal deforestation by 2028 and announcing a new “more ambitious” carbon reduction target for 2030, aiming to be carbon neutral by 2050.
“We have received positive signals from the government,” said Marina Grossi, head of the CEBDS group of companies, which includes the mining giants Anglo American and Valley and the oil companies Petrobras and Shell.
Marina Grossi said the private sector in Brazil believes the country can meet its target of zero emissions by 2050 – the recently introduced 10-year date – while protecting the Amazon.
“It’s a great opportunity,” Marina said in an interview with The Associated Press (AP) today, adding that “the big elephant in the room is illegal logging.”
The Brazilian government paid little heed to similar demands from environmental groups, but Marina Grossi said large corporations could be in a better position to win Bolsonaro’s chairman, who is facing elections next year.
Brazil could not only intensify its efforts to reduce emissions, it could also benefit greatly if the two countries agree on COP markets at COP26 in Gasglow, Scotland.
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