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International cooperation strengthens measures for the energy transition

Partnerships with the World Bank and the United Kingdom seek to accelerate measures for the energy transition, through the creation of a credit line of up to R$1 billion for green hydrogen projects and a center to articulate actions for the decarbonization of the industrial sector in Brasil. The agreements were signed during COP28 in Dubai, and the topics are on the agenda of the working groups of the G20 Sherpas Track.

12/05/2023 1:51 PM - Modified 3 months ago
Sample of sustainable aviation fuel (SAF) under development at the SENAI Institute for Innovation in Renewable Energies (ISIER) | Photo: Renata Moura
Sample of sustainable aviation fuel (SAF) under development at the SENAI Institute for Innovation in Renewable Energies (ISIER) | Photo: Renata Moura

Brasil is engaged in looking for possibilities to accelerate the energy transition and during the United Nations Climate Conference, COP 28, it signed memorandums of cooperation with the World Bank, to create a fund with investment potential of up to R$1 billion for green hydrogen projects, and the United Kingdom to create the Hub for Industrial Decarbonization in Brasil (HDIB).

Accelerating measures for the energy transition is one of the priority themes in the discussions of the working groups that integrate the G20 Sherpas Track. The idea is to promote a broader dialogue in the country and around the world on these themes, which are part of both the Energy Transitions Working Group and the Global Climate Change Mobilization Task Force.

The memorandum for the creation of a credit line for low-carbon hydrogen projects is a partnership between the Economic and Social Development Bank (BNDES) and the World Bank. The agreement also provides for the sharing of knowledge to boost dialogue on the theme and validates the possibility of co-financing, guarantees and technical assistance financing. The measure is the responsibility of the Ministry of Mines and Energy (MME).

Minister Alexandre Silveira considered that the cooperation represents "consistent steps", "which bring dynamism and reduce the cost of large-scale projects to accelerate the energy transition in a fair and inclusive way".

Agreement with the United Kingdom

The Industrial Decarbonization Hub in Brasil is the result of the memorandum signed with the United Kingdom to increase the country's capacity to identify, align and combine sources of international assistance with projects to support the decarbonization of Brazilian industrial activities. The creation of the center falls within the scope of the actions of the Ministry of Development, Industry, Trade and Services (MDIC).

The document also provides for the articulation of international partnerships for HDIB; incentives for international climate finance donors; the promotion of activities at international events on climate and clean energy, the identification of opportunities for public engagement; and the realization of technical and financial assistance for industrial decarbonization projects in Brasil by the British government within the framework of the International Climate Finance policy program.

"Brasil is well positioned to lead global decarbonization, given its clean energy matrix and its potential for innovation in renewable energies. Our objective, however, is not only to meet climate targets, but also to boost the economy, create jobs and promote sustainability on all fronts," affirmed the Secretary for Green Economy, Decarbonization and Bioindustry, Rodrigo Rollemberg.

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Energy Transitions

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The Working Group's priority is to debate the global transition scenario towards the use of clean and sustainable energy sources and the paths towards a fair, accessible and inclusive energy transition.
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