News

18/12/24

IBRAM President is optimistic about the expected outcomes at COP30. “Brazil, leading the COP, has the capacity to coordinate, engage in dialogue, and unite countries around mutual commitments to combat the effects of climate change,” says Raul Jungmann.

The Brazilian business sector “needs to wake up” to the fact that COP30—the UN Climate Change Conference—will focus on defining ways to expand the bioeconomy to address the climate emergency, representing excellent business opportunities. The involvement of productive sectors is essential for the global effort against climate change to advance at the required scale. Simply put, the energy transition cannot materialize without defining the economic mechanisms to make it happen.

These observations were made by Raul Jungmann, CEO of the Brazilian Mining Institute (IBRAM), during a seminar on Tuesday evening (December 17) at the Correio Braziliense auditorium in Brasília, Brazil. Regarding the urgency for COP to establish channels to fund efforts against climate change—referred to as climate financing—and the resistance of some countries to this issue, Jungmann noted that “the COP mechanism has collapsed in terms of these decisions,” in an environment of global fragmentation marked by wars and political-economic conflicts between nations.

COP30: Economy for the Transition

According to Jungmann, one of the solutions for climate financing is the interconnection of carbon markets, ensuring it does not hinder the development of countries with large preserved green areas. “What do the most developed countries want from others, like Brazil, and African and Asian nations? Nature conservation. But this cannot mean freezing the development of these countries,” he stated.

Although climate issues will be central at COP30, which will take place in Brazil in November, Jungmann insists that the economy and business opportunities will stand out. “COP30 is about the economy and represents green business opportunities for entrepreneurs in Brazil and around the world,” he said. To engage economic sectors, Brazil is paving the way with new industrial policies, the Climate Plan, and the Ecological Transition Plan, he added.

Mineral Security is Essential for the Energy Transition

Jungmann also emphasized that COP30 should address the need for “mineral security,” which involves the expansion and supply of critical and strategic minerals for the energy transition. Brazil is well-positioned to be one of the leading suppliers of these minerals. “We are the 5th largest player in mining and produce 1.4 billion tons of minerals,” he said, noting that Brazil still lacks a national plan to expand the production of these essential resources.

Mining Aligns with the Global Climate Agenda
The IBRAM leader stressed that Brazilian mining aligns with the global climate agenda, something all economic sectors must do. The industry has developed a greenhouse gas emissions inventory, covering Scopes 1, 2, and 3. It has established an ambitious ESG agenda with 12 commitments, action plans, goals, and indicators. The sector has publicly committed to actions supporting the sustainable development and protection of the Amazon through new economies—an area at the heart of solutions to the climate crisis.

Jungmann is optimistic about the expected outcomes of COP30. “Brazil, leading the COP, has the capacity to coordinate, engage in dialogue, and unite countries around mutual commitments to combat climate change, as the country has a unique connection with both developed and developing nations,” he emphasized. “We must believe that this COP, held in the Amazon, will truly be a turning point. Realistically, we no longer have time, and we must act to ensure we do not leave a worse world for future generations,” he stated.

At the CB DEBATE seminar, titled Challenges 2025: The Future of Brazil in Focus, Jungmann participated in the panel COP30: Brazil’s Leadership on the Global Stage. Other participants included Rodrigo Rollemberg, Secretary of Green Economy at the Ministry of Development, Industry, Trade, and Services (MDIC); Tatiana dos Santos Oliveira, Public Policy Specialist; Ana Toni, National Secretary for Climate Change at the Ministry of Environment and Climate Change; and Gabriel Santamaria, General Manager and Head of Sustainability at Banco do Brasil.