ESG Post

Regulators

Brazil unveils new climate pledge, targets 67% emission reduction by 2035

Brazil has announced a strengthened climate commitment, targeting a reduction in greenhouse gas emissions by up to 67% by 2035 compared to 2005 levels. This updated pledge, revealed in a government statement on 8 November, will be formally presented at the upcoming United Nations COP29 climate summit in Azerbaijan. The new goal builds on Brazil’s previous commitment of a 53% emissions reduction by 2030, signalling a significant step toward the country’s climate neutrality target for 2050.

As Latin America’s largest nation and one of the world’s leading carbon emitters, Brazil’s climate actions play a pivotal role in global efforts to meet the Paris Agreement target of limiting global temperature rise to 1.5 degrees Celsius. The UN has urged nations to submit new pledge of climate commitments by February 2025 to maintain momentum toward this goal.

“This commitment will allow Brazil to move towards climate neutrality by 2050, the long-term objective of the climate commitment,” the government stated, reinforcing Brazil’s alignment with the 1.5C global target. However, some environmental groups have expressed concerns about the pledge’s scope. Climate Observatory, a prominent Brazilian environmental lobby group, argued that while the target aligns with international ambitions on paper, it may lack the rigorous ambition needed to truly support the 1.5C objective.

A comprehensive evaluation of Brazil’s climate pledge will be possible when the government releases the full details in the form of its Nationally Determined Contribution (NDC). The NDC will outline Brazil’s specific strategies to achieve emissions reductions and contribute to global climate targets, providing a clearer picture of the country’s approach to sustainability and carbon neutrality.