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Shifting to a Low-Carbon Economy Could Boost Brazil’s Economic Growth by Creating Jobs and Reducing Carbon Emissions by Up to 33%
Investments in greener industry, energy, and agriculture could generate jobs, according to the report released this August, potentially adding an extra GDP of US $325- $525 billion over the next ten years for the Brazilian economy, while also reversing the damage to Brazil’s environmental reputation, improving access to international investments and green bonds.
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Can Brazil Under the Current Government Be Sustainable and Save the Economy?
Among its proposals, the WRI report encourages the restoration of degraded pastures, the construction of railways, and the installation of electric buses in Brazil’s public transportation system – combining long-sought goals of improving the country’s infrastructure with low-carbon solutions.
The authors state that low-carbon measures are more likely to be adopted by Bolsonaro now, as the government urgently works to produce a viable COVID-19 economic recovery plan, noting that the implementation of environmental targets could open new economic markets and create two and a half million jobs in the next decade, while also boosting Brazil’s tarnished international reputation, reducing the risk of future sanctions and loss of investments.
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The largest food company on the planet, JBS, has just opened a 4,000 square meter laboratory in Florianópolis to develop customized proteins that modulate muscle mass gain, immune response, and metabolic performance.
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After nearly 30 bids and competition among industry giants, a Spanish company purchases one of the largest airports in Brazil for almost R$ 3 billion and takes over the management of Galeão in a concession that will last until 2039.
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The Federal Revenue Service now automatically cross-references everything you declare with data from banks, credit cards, brokerage firms, and insurance companies, and any discrepancy between your income and your expenses triggers an alert in seconds.
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Amid global tensions, Brazil blocks the United States’ proposal at the WTO and paves the way for a trade crisis and possible retaliations.
Higher Productivity, Lower Carbon Emissions, and New Job Opportunities
Improving productivity is the cornerstone of the WRI report, as it seeks common ground between agribusiness, industrial interests, and the environment, potentially generating new job opportunities in the market.
A program for the recovery of degraded pastures would cost US $4.5 billion. According to the WRI plan, this investment could be recovered in six and a half years from increased productivity while also reducing deforestation pressures.
“The tax revenue from this investment alone would total 742 million reais (US $134 million), which could help the government with its budget deficit while also creating new job opportunities,” said Viviene Romero, lead researcher of the WRI study.
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