Over the last 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 the Latin America and Caribbean Climate Week, a UN initiative, which is taking place this week in Salvador (BA). The panel was held this Tuesday (20) by the Brazilian Business Council for Sustainable Development (CEBDS), in partnership with Neoenergia and its concessionaires in the Northeast region: Celpe Coelba, Cosan and Elektro, through Aneel's Energy Efficiency Program.
CEBDS technical director Ana Carolina Szklo stressed that initiatives to reduce emissions and adapt to climate change are already a reality for 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.
“88% of our energy is clean, a number higher than the national average. Our climate change policy is aligned with the SDG 13 (Take urgent measures to combat climate change and its impacts),” said Solange Ribeiro, deputy CEO of Neoenergia.
During the panel, the executive made an emphatic defense of the adoption of the carbon market in Brazil. “The carbon market is too important to be regulated. It is no longer optional, it is part of the core business and the sustainability of the business in the long term,” he said.
Itaú Unibanco: GHG emissions reduction targets
The superintendent of Institutional Relations, Sustainability and Inclusive Business at Itaú Unibanco, Luciana Nicola, highlighted that the institution has public targets for reducing greenhouse gas (GHG) emissions and publishes notices to offset CO2. Luciana also highlighted that Bike Itaú is one of the bank's projects to contribute to reducing emissions and raising awareness. "If all cities used the full potential of bicycle travel, we would have a reduction of 18% of CO2 in urban centers," said Luciana.
The Itaú Unibanco executive also highlighted the Task Force on Climate-related Financial Disclosures (TCFD), an initiative made up of investors from different sectors to classify and measure climate risks. “We have a group at Febraban (Brazilian Federation of Banks) to create a standard for TCFD. What we see is that there are differences from sector to sector. Which ones are more sensitive to climate change and how should we look at them?”, asked Luciana. Most Brazilian companies have already been anticipating the identification of hidden risks in their operations, with 57% of them using internal carbon pricing policies.
Companies in the cement sector have committed to reducing CO2 emissions in Brazil. “We started discussing a commitment to reduce CO2 in 1999. And now we have a roadmap of the national cement sector to make the sector even more efficient”, informed Álvaro Lorenz, global technical director of Votorantim Cimentos.
According to him, in Brazil, the cement sector accounts for 2.6% of GHG emissions, well below the global average. We are at the forefront of this issue,” said the Votorantim Cimentos executive at the Climate Week side event. This is one of the regional events of the United Nations Framework Convention on Climate Change (UNFCCC) that precede COP-25, which will be held in December in Santiago, Chile.
Support for carbon pricing
Itaú, Natura and Lojas Renner, companies associated with CEBDS, signed on Tuesday (20), in Salvador, the CEBDS open letter that defends Carbon Pricing in Brazil. With this, the document now has the full support of 31 CEOs and CFOs of large companies and organizations for the establishment of a pricing mechanism appropriate to the characteristics of the economy and the country's GHG emissions profile. In this way, the organization intends to encourage investments, guarantee the competitiveness of companies and stimulate low-emission technological innovation in Brazil.
