From August 19 to 23, Salvador was the focus of discussions on the implementation of the Paris Agreement and the fight against climate change with the Latin America and Caribbean Climate Week (LACCW). The Brazilian Business Council for Sustainable Development (CEBDS), associated companies and partners developed an intense program that demonstrated the leading role of the business sector in the transition to a low-carbon economy. Check out the highlights of the event:
Carbon Pricing is a Strategic Policy
“The Ministry of Economy’s view is that carbon pricing is a strategic policy that can bring many benefits to Brazil.” The statement by Ana Luiza Champloni, general coordinator of Environment and Climate Change at the Secretariat of Economic Policy of the Ministry of Economy, marked the Carbon Pricing Panel. The panel was held on the first day of the Latin America and Caribbean Climate Week by the Brazilian Business Council for Sustainable Development (CEBDS), the Carbon Pricing Leadership Coalition (CPLC) and Votorantim Cimentos.
Companies seek to reduce greenhouse gas emissions
Over the past three years, companies operating in Brazil have implemented 1,340 projects to reduce greenhouse gas emissions, totaling an investment of more than US$$ 85.8 billion, resulting in 217.9 million CO2 emissions avoided during this period. These data were highlighted in the Climate Action Panel, a side event of Climate Week, which was held on Monday by CEBDS, in partnership with Neoenergia and its concessionaires in the Northeast region: Celpe Coelba, Cosan and Elektro, through Aneel's Energy Efficiency Program.
CEBDS's technical development director, Ana Carolina Szklo, emphasized that initiatives to reduce emissions and adapt to climate change are already a reality in large groups operating in Brazil. According to her, climate risk is already a factor considered, including in investment decision-making.
“Climate action has driven innovation, competitiveness, risk management and business growth projects, while providing the emissions reductions needed to mitigate climate change and contribute to the Paris Agreement,” said Ana Carolina, who moderated the panel.
Investment focused on climate finance is needed
The need for investment focused on climate finance was one of the main topics discussed during the second day of Climate Week. In one of the lectures, Bárbara Brakarz, senior specialist for Climate and Sustainability in the Climate Change Division of the Inter-American Development Bank (IDB), spoke about the importance of investing in and financing projects related to climate impacts in the world.
“Today, in Brazil, the need to invest in sustainability, mitigation and adaptation to climate change is becoming increasingly clear. Not only because we are seeing the effects of climate change on our city and our agricultural production, but because evidence increasingly shows that climate change means a cost to the country, an economic and financial cost to the population. Therefore, governments, the private sector and the financial market are mobilizing, becoming aware that this [care] is not only an investment opportunity, but a necessity,” he said.
CEBDS and the business sector's recommendations on carbon pricing
On the fourth day of the Latin American and Caribbean Week on Climate Change, CEBDS presented a letter of principles with a summary of the debates and alignments on carbon pricing instruments, such as risk management, business opportunities and financial achievements. The document was delivered to representatives of the Federal Government, the mayor of Salvador ACM Neto and representatives of companies and institutions present at an event on financing and climate risks.
The document, which can be accessed in full here, was prepared based on conversations with companies associated with CEBDS and during the workshop “Business Dialogue on Article 6”, in conjunction with IETA, held on August 19th during Climate Week. The letter brings together guiding principles for the regulation of Article 6 of the Paris Agreement, a debate that will take place during COP25, which will take place in December, in Chile.
Mobility and the contribution to more sustainable cities
Session 3 of the transport and mobility thematic block, which took place on 22/08, organized by UNFCCC It was attended by the director of technical development at CEBDS, Ana Carolina Szklo, who pointed out the need to observe social impacts and look at the issue from a human rights perspective.
“When we talk about mobility transformation, we talk about economy and CO2 reduction, but social aspects should not be left out of this discussion either. We need to think about the way things are produced. Where does the material we use for this transition come from? From child labor? Slave labor? The transition cannot have a social cost,” argued Ana Szklo.
Thematic block discusses decarbonization and financing for energy transition
The Intergovernmental Panel on Climate Change (IPCC) was categorical: global warming must be limited to 1.5° by 2100. In this scenario, the energy transition to a low-carbon economy is one of the most effective contributions the business sector can make to complying with Brazil's nationally determined contributions (NDC) to the Paris Agreement.
The topic was the focus of the energy transition thematic block organized by the UNFCCC, held on the third day of the Latin American and Caribbean Week on Climate Change. Three companies associated with CEBDS, Siemens, Santander and Itaú, participated in the debates alongside experts from Latin America and the Caribbean.
In the session on Deep Decarbonization of the Energy System, Coppe-URFJ professor Suzana Kahn highlighted that it is necessary not only to decarbonize the system, but to completely transform the way we behave and offer energy.
“Decarbonization is important for our region. But to achieve our renewable potential we need investment and innovation. It is essential to create development pathways and science is crucial to reduce the costs of this transition,” he said.
