From The Straits Times · · 1m
Brazil's Tight Election Threatens Climate Finance Plans
Bolsonaro's potential climate policy reversal risks Brazil's $2.6-trillion green economy.
In brief
Bolsonaro's potential climate policy reversal risks Brazil's $2.6-trillion green economy. Brazil's tight election could end its climate finance initiatives, threatening $2.6 trillion green economy growth. Originally reported by The Straits Times.
Brazil's election tightens climate concerns
Brazil's tight presidential election has investors worried a conservative government may abandon climate policies.
Bolsonaro leads first-round vote
Bolsonaro topped the first-round vote with stronger-than-expected performance after promising to strengthen the regulated carbon market.
Runoff against Lula da Silva
Bolsonaro faces left-leaning Lula da Silva in October 25 runoff who has positioned Brazil as climate finance hub.
Industry pressures Bolsonaro
Industry warns Bolsonaro not to abandon climate program due to $2.6-trillion economic impact.
“It would be economic stupidity to roll back this agenda”
Bolsonaro's climate stance
Bolsonaro described extreme weather as cyclical and said climate concerns should focus on basic sanitation.
Climate advocacy group concerns
Climate group says Bolsonaro's plan ignores emissions targets and conflicts with his Senate track record.
“Proposals such as fighting deforestation or bolstering environmental enforcement are starkly at odds with his track record in the Senate”
Continuity in climate programs
Businesses and BNDES suggest climate initiatives may continue despite election outcome.
The big picture
Brazil's tight election could end its climate finance initiatives, threatening $2.6 trillion green economy growth.
