Latin America Advisor
Energy Advisor
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Will an Amazon Investment Plan Save the Rain Forest?
Brazilian President Luiz Inácio Lula da Silva met last month with his French counterpart, Emmanuel Macron, and announced a new investment plan to halt deforestation in the Amazon. // Photo: Brazilian Government.
Brazilian President Luiz Inácio Lula da Silva met with his French counterpart, Emmanuel Macron, on March 27 and announced a new investment plan of 1 billion euros ($1.1 billion) to protect the Amazon rain forest. The announcement came ahead of Brazil’s preparations to host the COP30 climate summit in 2025, and outside the presidents’ meeting, environmental activists rallied to protest Lula’s support for oil exploration in the Amazon. How well are Lula’s recent initiatives—including the rain forest protection fund and private global climate financing plan—preparing Brazil to lead the region in tackling climate change? How valid are protesters’ critiques of Lula’s policies, and to what extent are his goals of making Brazil a climate leader at odds with boosting state-run oil firm Petrobras? How much does the Amazon investment plan stand to accomplish its goal of meaningfully reducing deforestation?
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Paulo Barreto, associate researcher at IMAZON: “Deforestation and land use contribute to nearly three-fourths of Brazilian emissions. Therefore, Brazilian climate change mitigation depends mostly on reducing deforestation and land use emissions, especially cattle raising, which is responsible for almost 80 percent of the Amazon’s deforestation. Climate change mitigation is urgent for Brazil, given that the country depends significantly on climate conditions for crucial economic activities, including agriculture and electricity generation via hydropower plants. The government has successfully reinstated the enforcement of…”
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A sister publication of the Inter-American Dialogue’s daily Latin America Advisor, the weekly Energy Advisor captures fresh analysis from business leaders and government officials on the most important developments in oil and gas, biofuels, the power sector, renewables, new technologies, and the policy debates shaping the future of energy in the Western Hemisphere and beyond. To subscribe or for more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.
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