Climate Politics
Brazil Calls on Rich Nations to Pay for Global Energy Transition
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Silveira wants Brazil’s commodity giants Petroleo Brasileiro SA and Vale SA to spearhead the energy transition domestically, including with the production and use of green hydrogen.
Photographer: Dado Galdieri/BloombergThis article is for subscribers only.
Brazil is calling on wealthy nations to pay for the world’s transition to sustainable energy as these countries need bolder commitments to make up for their reliance on polluting power sources.
Developing countries “cannot finance an energy transition in the mold of Europe and the US,” and need assistance from the developed world, Brazil’s Mines and Energy Minister Alexandre Silveira said in an interview in New York. Industrialized nations should take on bigger challenges as “they get their energy from much less clean sources than those in the Global South.”