Zero: The Climate Race Best of: COP30 president on how Brazil is looking to supercharge climate action
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Jan 27, 2025 André Corrêa do Lago, Brazil's Secretary for Climate, Energy and the Environment and COP30 president, shares exciting plans for the upcoming climate conference in Belém, a city with deep ties to the Amazon rainforest. He discusses the logistical challenges and the symbolic importance of the location. Topics include Brazil’s ambitious climate goals, the necessity for improved financing for developing nations, and the balancing act between fossil fuel production and climate action. Corrêa emphasizes collaboration and transparency as key to effective engagement.
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Article 6 Concerns
- COP29 negotiators worked on Article 6, which allows old carbon credits to be grandfathered in.
- This raises concerns about the credibility of the market due to many old credits being considered junk.
Carbon Market Integrity
- Environmental integrity in carbon markets is crucial to prevent further damage.
- Forestry credits, despite being discredited, are vital for fighting climate change due to their science-backed nature.
Financing Gap
- Developing nations need trillions for climate action, but current negotiations fall short.
- Middle-income countries like Brazil, India, and Indonesia require significant funding, but developed countries lack a sense of urgency in providing it.