Brazil, which has updated its Nationally Determined Contribution (NDC), 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 +. To achieve carbon neutrality, the country has committed to zero illegal deforestation by 2030 and to reforesting 12 million ha. In its previous NDC (2016), Brazil aimed to cut greenhouse gas (GHG) emissions by 37% by 2025, compared to 2005 levels, and to reach a 43% reduction by 2030. The country also committed to source 45% of its energy supply from renewables by 2030.
CO2 emissions from fuel combustion rose strongly between 2009 and 2014 (by around 8%/year), before decreasing by 15% between 2014 and 2018, because of the reduction in energy consumption. They remained stable in 2019 at 414 Mt.
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.