TATIANA SENDI
NEW YORK, USA (FOLHAPRESS)
The Minister of Finance, Fernando Haddad, met this Tuesday morning (19) with potential investors in the Brazilian ecological transition plan. The main doubts, according to the minister, have been related to investment opportunities and the country’s fiscal framework.
“As it is a relatively complex law in relation to other laws in the world, it is more sophisticated, so you end up removing doubts about how the triggers work so that fiscal sustainability is achieved”, said Haddad after a meeting at the Eurasia office, in New York, with around 20 investors.
In this Tuesday’s meetings, Haddad has presented the green plan and highlighted the work carried out by the federal government in these nine months, such as the measures that are in Congress to be voted on.
“There is a strong agenda in Congress of laws, including those that were archived and that we unarchived so that they could be submitted to this legislature,” he said.
Haddad highlighted that some legislative measures to get the green plan off the ground are already underway, such as Tax Reform and the regulation of carbon credits, which are in the Senate.
The estimate is that the issuance of sustainable bonds will take place in the coming weeks.
The minister believes that it will be possible to convince national and international companies to settle in the country to develop green products. “What we want, in fact, is to establish a process in the medium term in which Brazil is seen as a country where green products can be produced. Not just clean energy, not just strategic minerals, but green products,” he said.
At the two meetings this morning, one promoted by the Igarapé Institute and the other in Eurasia, representatives from organizations such as the Pimco investment fund, the World Bank, WWF International and the Sequoia Climate Foundation were present, as well as Jennifer Morgan, Secretary of State and special representative of Germany’s climate policies.
Other ongoing initiatives are the auctions of transmission lines for wind energy, Petrobras’ partnership with WEG on wind energy, and the development of sugarcane seeds that will double productivity per hectare of production in Brazil. “Have you ever imagined if we could double sugarcane production and be able to make green hydrogen from ethanol and fuel our cars with green hydrogen? It’s something that might have a greater impact than the electric car itself.”
The IRA
For Haddad, the United States’ Inflation Reduction Act (IRA, American legislation to encourage the green economy) should not be restricted to the American economy alone. “We are looking closely and seeking to verify under what conditions and with what rules Brazil could establish partnerships with the United States, taking advantage of this legislation and taking advantage of the competitive advantages that Brazil has.”
In the morning, at a meeting promoted by the Igarapé Institute, Haddad reportedly said that the G7 parents, especially the United States and the European Union countries, should rethink global geopolitics.
For him, the ecological transformation agenda will only be successful if there is a redesign of multilateral institutions, and this would imply greater support for the development of countries in the global South.
Brazil, as an international creditor, would be in a favorable position to defend the position of debtor countries, without defending its own interests – and this, according to the minister, would give legitimacy to the Brazilian agenda.
The post Haddad meets with American investors in search of financing for ecological transition appeared first in Jornal de Brasília.
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