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Brazil pledges to reach net-zero emissions by 2050

The Brazilian authorities have pledged to reach net-zero emissions by 2050 and repeated their commitment to halve greenhouse gas (GHG) emissions and to stop illegal deforestation by 2030. In addition, Brazil has promised to double its budget for environmental enforcement efforts. To do so, the government demands US$1bn/year in foreign aid, as the 2021 budget is nearly complete.

Brazil's CO2 emissions from fuel combustion surged between 2009 and 2014 (by around 8%/year) but decreased by 15% between 2014 and 2018, because of the reduction in energy consumption, and remained stable in 2019 at 414 Mt. In its updated NDC (2020), Brazil aims to reach carbon neutrality by 2060; the new target could be brought forward if developed countries transfer US$10bn/year to Brazilian projects starting in 2021, through the mechanisms of Article 6 of the Paris Agreement and the federal government’s payment for environmental services program, Floresta +.

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