DUBAI - Inter-American Development Bank (IDB) President Ilan Goldfajn and the Governor Helder Barbalho of Brazil's Pará State today signed a letter of intent to move forward with a comprehensive decarbonization agenda in the State. The project will contribute to preserving the Amazon rainforest and eradicating illegal deforestation, avoiding 10 million hectares of forest loss by 2050. The announcement was made during the United Nations Climate Change Conference (COP28), and the initiative is a part of the IDB's Amazonia Forever program. Belém, the capital of Pará, will host COP30 in 2025.
Decarbonize Pará, a project that the IDB will finance and Pará will implement, aims to contribute to the progressive transition of the state towards net-zero emissions of greenhouse gases by 2050 through the implementation of economic, environmental, social and climate policies. It will benefit the entire population of the state.
The IDB and Pará have been working together since 2017 in areas such as fiscal reform, the bioeconomy, nature-based solutions and sustainable agriculture. The capital of the State will host the U.N. Climate Change Conference in 2025 (COP30) and this project is expected to contribute to related efforts.
“The state of Pará has been leading an important process in Brazil, and especially in the Amazon, when we talk about public policies for environmental preservation and sustainable development. Therefore, we have defined, within the Amazônia Agora State Plan, that one of our goals is to achieve neutrality of greenhouse gas emissions by 2036, contributing to the mitigation of climate change on the planet and prioritizing the change of the economic model historically reproduced in the Amazon," said Pará State Governor Helder Barbalho.
"It is under these premises that we are making the Decarbonize Pará feasible, which paves the way for this historical change, with the guarantee of resources for a series of restoration and conservation actions, based on nature-based solutions, the incentive to bioeconomy, sustainable and low carbon production. In addition, with this initiative, we also collaborate with the goals established in the Paris Agreement and dialogue with the 2030 Agenda and the ‘Race To Zero’ campaign, from the UN," he said.
President Goldfajn celebrated the partnership: “The IDB is committed to decarbonization efforts and is looking forward to the COP30 hosted in Brazil. Decarbonization is a process that requires intervention in multiple areas to be implemented, it depends on great coordination. We applaud the Pará State for addressing this challenge in a multisectoral approach. We are ready to continuously support the State, an important area of the Amazon region, in its pathway towards net-zero emissions goal.”
The policy reforms implemented thanks to this project will save 10 million hectares of forest by 2050 and reduce net CO2 emissions by 6 billion tons. The application of the IEEM, a tool developed by the IDB to measure the economic and environmental impact of public policies, has made it possible to calculate the reduction of areas with deforestation, the savings in carbon emissions that will occur thanks to this program and where these effects will occur.
About Amazonia Forever
Amazonia Forever is a holistic umbrella program that aims to protect biodiversity and accelerate sustainable development on three fronts: expanding funding, boosting the exchange of knowledge, and facilitating regional coordination between the eight Amazonian countries.
The program is based on five pillars: combating deforestation and strengthening environmental control and security in the context of national governments; the bioeconomy, boosting alternative and sustainable economic activities; people, aiming for adequate access to quality education, health and employment; sustainable cities and infrastructure and connectivity; and sustainable and low-carbon agriculture, livestock and forestry. In addition, it focuses on promoting the inclusion of women, indigenous peoples, Afro-descendants and local communities; climate and forest conservation; and strengthening institutional capacities and the rule of law.
Latin America and the Caribbean at COP28
The countries of Latin America and the Caribbean are a critical part of the solution to global climate change challenges. In the IDB Pavilion of the Americas, the Bank is hosting more than 30 events with international leaders and experts to showcase initiatives on climate action, from cutting-edge financial instruments to the conservation and sustainable use of natural resources, the Amazon, a just economic transition, and more. Journalists covering COP28 on site are welcome to visit the pavilion, with no registration required. Consult the event schedule here. For journalists covering COP28 remotely, register to access broadcasts of selected events.
Location: IDB Pavilion of the Americas at Blue Zone, Opportunity District (OA04G2), Pavilion #56
About the IDB
The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public- and private-sector clients throughout the region. Take our virtual tour.
Borges De Padua Goulart,Janaina
