Brazil promotes COP30 investment with 80% renewable power

Geraldo Alckmin (acting president and Minister of Development, Industry, Commerce and Services) presented COP30 as a major opportunity to attract foreign investment, citing Brazil’s clean energy matrix and recent policy moves.

• Main announcement/action: Alckmin emphasized that COP30 in Belém is a chance to consolidate Brazil’s leadership and attract investment, highlighting that 80% of Brazil’s electricity is renewable, the country’s role in biofuels/SAF, and the target to achieve illegal deforestation zero by 2030; he also noted Brazil’s plan to be a SAF producer alongside India and the United States.
• Background and concrete details: He referenced concrete measures and deals: Petrobras’ contract of 6 million barrels of oil with India, launch of Redata to attract data centers, tariff negotiations and recent tariff reductions with the United States, and fiscal changes including income tax exemption for monthly incomes up to R$ 5,000 starting next year, a planned rise to 50% domestic pharmaceutical production next year and 70% by 2033, and the deforestation decrease of more than 50% to date.