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 +.
Interested in Global Energy Research?
Enerdata's premium online information service provides up-to-date market reports on 110+ countries. The reports include valuable market data and analysis as well as a daily newsfeed, curated by our energy analysts, on the oil, gas, coal and power markets.
This user-friendly tool gives you the essentials about the domestic markets of your concern, including market structure, organisation, actors, projects and business perspectives.