Monaco Journal - Lula orders road map to cut fossil-fuel use in Brazil

NYSE - LSE
SCS 0.12% 16.14 $
RBGPF 0% 81.17 $
CMSD -0.65% 23.25 $
BCC 0.33% 76.51 $
JRI -0.15% 13.7 $
NGG 0.32% 74.93 $
BCE 1.31% 23.71 $
RIO -1.43% 75.66 $
RELX 0.25% 40.38 $
CMSC -0.56% 23.3 $
GSK -0.14% 48.81 $
RYCEF -1.71% 14.6 $
VOD 0.4% 12.59 $
AZN -0.51% 89.83 $
BP -0.77% 35.26 $
BTI -2.22% 57.1 $
Lula orders road map to cut fossil-fuel use in Brazil
Lula orders road map to cut fossil-fuel use in Brazil / Photo: Evaristo Sa - AFP

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.

Text size:

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.

C.Gatti--MJ