By Kempson Cabral and Karen Tanaka
The Brazilian economy should be guided by sustainable development and move towards a low-carbon scenario, recommend the group of former Finance Ministers and former presidents of the Brazilian Central Bank in a historic meeting held this Wednesday (14/07).
On the occasion, the authorities launched the letter “Convergence for Brazil”, which contains crucial actions, including zero deforestation in the Amazon and increase climate resilience. She The initiative is supported by the Climate and Society Institute and the World We Want Institute.
For the former president of the Central Bank, Armínio Fraga, “the time has come to talk about the environment”. It became clear to this group that sustainable development is indispensable for a solid economic policy and for the country’s long-term resilience. “The Covid-19 crisis has highlighted the perception of inequality and the need for sustainable development. Brazil needs to move from its current position to a leadership position,” says Pérsio Arida, former president of the Central Bank.
For Joaquim Levy, former Finance Minister and observer of the CEBDS Leaders Council, we have great advantages to achieve a clean economy. And it is necessary to have clarity and there is confidence from local and foreign investors.
Low carbon economy
The Letter points out that one should seek a low-carbon economy, with public and private investments that support the transition of the Brazilian economy to a net zero carbon emissions standard, essential to stabilize the global average temperature.
As Rubens Ricupero, former Finance Minister, rightly pointed out, there is a government movement for greater climate ambition in some countries and a rearrangement of businesses that consider a decarbonized future, such as European Union, which has set 2050 as its target to become carbon neutral, and in Germany, where they are already starting to manufacture only electric cars.”
“If Brazil does not prepare for this, we will be late. We cannot delay the incorporation of cutting-edge technologies that will lead us to a low-carbon economy,” said Rubens Ricupero, former Finance Minister.
Sustainable future
Four points are listed that are necessary for Brazil to include the environment in its economic policy: achieving a low-carbon economy, eliminating deforestation in the Amazon and Cerrado, increasing climate resilience and, lastly, boosting research and development of new technologies in this globalized world.
In addition to these points, social and economic inclusion, greater efficiency and productivity in economic activities in the Amazon region, appreciation and preservation of biodiversity, adoption of carbon credit negotiation mechanisms and incentive packages for economic recovery from the effects of the Covid-19 pandemic are essential themes that are included in Business Sector Announcement led by CEBDS with the support of a group of organizations and companies. “We have the unique opportunity, resources and knowledge to scale up good practices and, more than that, strategically plan the sustainable future of Brazil,” says the Statement.
We are witnessing a myriad of public calls for the government and other national actors to focus on and prioritize climate change and a truly resilient and green recovery. Brazil has unparalleled leadership potential, as it possesses enormous wealth in biodiversity, forests, and renewable and clean energy resources.
Information about the Convergência pelo Brasil initiative is available on the website: www.convergenciapelobrasil.org.br
