Page 34 - Respond 2022 Magazine
P. 34
Brazil towards
climate action
Maria João Pereira Rolim, Rodrigo Sluminsky
and Alice de Siqueira Khouri en.rolim.com
Brazil has a historic role However, for the first time since the adoption of
in combating inequalities. the Sustainable Development Goals, the global
Similarly in climate action, average SDG Index score has decreased,
Brazil has a history of actively and Brazil is one of the countries which have
engaging the main agenda. declined the most .
1
Brazilians continue to face an economic
recession due to political and social tensions
widely reported in the international media. With
approximately 2.7% of the world population,
2
Brazil had 13% of deaths confirmed by Covid .
The indigenous populations have the highest
3
risk of poor social and health outcomes . Last
year, the deforestation rate in the Amazon
rainforest was the highest rate in the decade .
4
Deforestation can increase temperature and
reduces evapotranspiration. The selective
logging leads to the degradation of adjacent
forests, which increases even more their
5
vulnerability to fires . The critical pattern is
deforestation followed by fire, as large fires burn
the remains from freshly cut areas . Last year
6
Brazil also registered the highest number of
fires in recent years . In addition to biodiversity
7
loss and drought, these fires also produce
air pollution that poses a severe health risk .
8
Furthermore, Brazil has more fresh water than
any country in the world. About 65% of its energy
comes from hydroelectric power generation
sources, although the main water storage
system in the South East and Midwest region is
at a critical stage.
Notwithstanding, Brazil does have good news:
climate action is playing an undeniable role in
reversing this scenario.
✔ A growing number of Brazilian companies
have communicated their net-zero plans
considering mainly (i) electricity purchased
from renewable sources, (ii) neutralizing GHG
emissions from operational activities, (iii)
redefining the balance of emissions, reducing
its direct and indirect emissions, or offsetting
any emissions residuals; and (iv) eliminating
illegal deforestation in the supply chain .
9
✔ Climate finance has grown exponentially
in recent years in Brazil, reaching an
accumulated value of USD 10.8 billion. Green
bonds account for approximately 84% of
the sustainable debt market, followed by
10
sustainable bonds and social bonds .
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