Brazil and Arab countries sought coordination in the carbon market, renewable energy, food security, and transportation at the recently concluded 27th United Nations Climate Change Conference.
The Arab Brazilian Chamber of Commerce (ABCC) organized a panel discussion at COP27 to strengthen and expand the existing partnership between Brazil and Arab countries to advance sustainability, with a focus on the collaborative and coordinated efforts of both nations.
The discussion, which took place in the Brazilian pavilion at COP27, was primarily focused on the robust relations between Arab countries and Brazil, as well as potential prospects for the expansion of this partnership to achieve sustainability goals, such as the achievement of emission reduction targets for both countries.
Several prominent figures attended, including Khaled Hanafy, Secretary-General of the Union of Arab Chambers; Sara Hassan Kamal Elgazzar, Dean of the College of International Transport and Logistics at the Arab Academy for Science, Technology, and Maritime; and Consultant at the Union of Arab Chambers; and Tamer Mansour, CEO and Secretary-General of the Arab Brazilian Chamber of Commerce (ABCC). Fernanda Baltazar, ABCC’s Institutional Relations Director, moderated the discussion.
According to Osmar Chohfi, President of the Arab Brazilian Chamber of Commerce, “the discussion focused on exploring new avenues to expand the strong partnership between Brazil and the Arab countries.” Arab countries are currently investing in agriculture, infrastructure, logistics, and transportation in order to ensure food security and sustainability. They are changing their investment perspectives in order to ensure the security of a high-quality food supply while also focusing more on sustainability.
Furthermore, in order to avoid water scarcity, we must employ cutting-edge technologies and sustainable business practices. We could add value to sustainability and demonstrate how it generates significant potential. “In light of catastrophic climate change, human security, financial security, economic and national stability, and the very existence of the planet are all at stake.”
The panelists emphasized that there are various forms of sustainable economic collaboration between Brazil and Arab countries, with the latter intending to have green, environmentally friendly businesses. One of the key components of this alliance is the carbon market. The Brazilian market has excess carbon credits to sell, and Arab nations are eager to purchase.
Furthermore, Hanafy stated that maritime transportation between Brazil and the Arab countries has a significant environmental impact. He mentioned several projects and initiatives that might take green maritime transportation into account, given the potential for large emissions from shipping.
Furthermore, Elgazzar suggested that the countries work together strategically to reduce the impact of climate change on both the Brazilian and Arab sides. She went on to say that there are numerous sustainability projects and initiatives underway in Arab countries, with the UAE hosting COP 28 in Dubai the following year being the best example. She also mentioned Masdar, a renewable energy company that invests in a number of nations in the Middle East and North Africa (Mena) region to advance the green economy and sustainable urban development.
Hanafy also suggested during the panel that efforts should be made to integrate the private sectors of Brazil and the Arab world in order to produce more sustainable initiatives. Along with food security, he emphasized the water crisis, emphasizing the importance of implementing more advanced technologies as well as sustainable business practices to avoid a scarcity. The three panelists agreed that the strategic alliance between the parties is critical to developing initiatives that promote sustainability in both countries.
In addition, at the Renaissance Hotel, ABCC inked a term of commitment with the Brazilian National Confederation of Industry (CNI) to strengthen cooperation and develop an institutional strategy for the upcoming COP28, which will be held in Dubai in 2023. The agreement also includes a framework for Arab countries and Brazil to develop a low-carbon economy strategy.
“At the moment, the world is combining efforts to combat the changing climate scene and build a sustainable future,” Chohfi said of the agreement. Many Arab countries have already made ambitious commitments to decarbonization, with their governments promising long-term investments to build completely innovative, green, and modern production chains.
“They’ve also developed 2030 frameworks that include efforts to increase the proportion of renewable energy in the power matrix, primarily through solar, wind, and biomass energy production.” “We look forward to significantly contributing to global efforts to transition to a green future through our agreement with CNI.”
Robson Braga de Andrade, President of the CNI, and Osmar Chohfi, President and Ambassador of the ABCC, signed the agreement. Among those in attendance were Rodrigo Pacheco, President of the Brazilian Senate, and Benjamin Zymler, a judge on the Brazilian Federal Audit Court (TCU).
Source : tradearabia