André Corrêa do Lago highlights the importance of Brazil deciding on oil exploration on the equatorial margin before conference
The president of COP30 said that the possible absence of the United States at the conference will increase the challenges around a consensus on investments directed to developing countries to minimize climate change effects. The US presence was put in check after President Donald Trump (Republican Party) the country of the Paris Agreement.
“If with the US, who had a government that wanted to combat the climate change and was clearly involved in this agenda, only $ 300 billion, as we will have more during this year, to present a formula? It will be an extremely challenging thing ”, said the ambassador in an interview with the newspaper The globe.
COP30, a united nations conference for climate change, will be headquartered this year in November in Belém (PA). On Tuesday (21.Jan.2025), the President (PT) appointed Corrêa do Lago to the presidency of the conference. Like the Poder360the announcement in Brazil was late compared to Azerbaijan, headquarters of COP29, which in the same period of 2024 had already defined the holder of the position.
The last final document, signed at the previous conference, placed the investment target to developing countries at $ 300 billion, despite the expectation of reaching $ 1.3 trillion. “We have a mandate of trying to be able to establish a way to get $ 1.3 trillion. We have to convince countries and the private sector too ”Said Corrêa do Lago, adding that US absence does not mean the absence of US banks and companies.
Asked about the possibility that Brazil could not reach a final statement at COP30, Corrêa do Lago said that risk is always on the horizon. “As it is consensus, it is a constant risk. Because consensus means, in a way, that everyone has veto power. Even a small island can block a climate change negotiation ”pondered.
The ambassador also talked about the discussion about whether or not Brazil should explore oil on the equatorial margin. Corrêa do Lago stated that, although this is a sovereign decision of Brazil, it would be important to reach COP30 with the debate sent or, at least, ripened.
“The important thing is that there is a debate, because what we are seeing are totally people or totally against. Ideally, we had to arrive at COP already with a referral of this theme or at least with great maturity ”I said to the newspaper.
The equatorial margin has gained notoriety in recent years. Recent oil and gas discoveries on the coast of Colombia, Guyana, French Guiana and Suriname showed the region’s oil potential, located near the Ecuador line.
In Brazil, it extends from Rio Grande do Norte and goes to Amapá. Petrobras has 16 wells on the new exploratory border. However, it has only authorization from (Brazilian Institute of Environment and Renewable Natural Resources), an organ linked to, to drill 2 of them, on the coast of Rio Grande do Norte.
Criticized by environmentalists, the exploration in the Foz do Amazonas basin, in the equatorial margin, in 2025, according to the minister of, (PSD). The operation has been locked since last year, when Ibama technicians recommended to keep the negative to issue an environmental license for the company to drill the well on site.
Ibama denied license for areas such as the Foz do Amazonas basin, identified as FZA-M-59. The block is 175 km from the coast at a depth of 2,880 km. Despite the name Foz do Amazonas, the place is 540 km from the mouth of the river itself.
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