Brazil: Subsidies for clean energy must exceed those for fossil fuels
Global discussions on the abandonment of the use of fossil fuels, such as oil, coal, and gas, despite not being on the agenda of the 30th United Nations Climate Change Conference (COP30), should be part of commitments that complement climate goals, argued the Minister of Environment and Climate Change, Marina Silva.
According to the minister, ambition and innovation must be combined before decisions such as those made at COP28 in Dubai, United Arab Emirates, can be reached, with the inclusion of Article 28 in the Global Stocktake. The article stipulates a reduction in the use of fossil fuels.
“For the first time, the world has adopted a decision that explicitly addresses the transition away from fossil fuels in energy systems in a fair, orderly, and equitable manner, with the goal of accelerating action by 2050,” Silva emphasized as she opened the session on Global Stocktake – Energy Transition and Sustainable Fuels Forum.
At the time, the issue was not part of the official negotiation agenda for the global conference, nor is it among the 140 items to be negotiated in November in Belém, where COP30 will take place.
“Until COP28, previous decisions avoided directly and clearly mentioning this need,” said the minister.
In her view, the solution to prevent the issue from stagnating lies in the additional measures that will generate new global actions due to the urgent need.
“We need efforts that take into account different capacities, different transition times, and the diverse realities of people and countries,” she said.
The starting point suggested by the minister is the transfer of subsidies given to the fossil fuel sector to clean energy generation initiatives.
“Today, these subsidies range from USD 1.5 trillion to USD 7 trillion, depending on the methodology. In contrast, subsidies and investments in renewable energy are much lower – around USD 170 billion in G20 countries, or USD 500 billion if we include private investment,” she noted.
