Lula orders road map to cut fossil-fuel use in Brazil / Photo: Evaristo Sa - AFP
NYSE - LSE
Lula orders road map to cut fossil-fuel use in Brazil
Brazilian President Luiz Inacio Lula da Silva ordered his cabinet on Monday to craft a road map to reduce dependence on fossil fuels, a promise the country made as host of United Nations climate talks last month.
Lula tried to broker a global deal on a road map to phase out oil, gas and coal at the COP30 talks, but was stymied by opposition from producers such as Saudi Arabia, Iran and Russia.
Brazil, itself a major oil producer, nevertheless committed to presenting a plan to end its use of fossil fuels, and called on other countries to do the same.
In a decree, Lula gave his finance, environment and mining ministries 60 days to draw up guidelines on a "gradual reduction in dependence on fossil fuels in the country."
The idea is to use Brazil's oil revenues to pay for a fund that will finance the transition to clean energies.
Lula, who ran for office as a champion of the environment, has faced criticism for backing state-run oil company Petrobras's exploratory drilling at the mouth of the Amazon River.
But his government won praise for the proposal on a global deal with deadlines to stop burning the fossil fuels heating the planet.
The plan won the backing of a coalition of countries including France, the Marshall Islands and Spain, several of which are due to hold a conference in Colombia in April 2026 on ending fossil-fuel use.
V.Koch--SbgTB
