The region of Latin America finally saw the same breathing room after the 2022 Brazilian presidential elections, where President Luis Inácio “Lula” da Silva got elected, beating the one-term right-winged president Jair Bolsonaro, who was responsible for some of the most political atrocities in Brazil, only seen in the country during their dictatorship in the 1960’s.
With the newly elected President Lula, his promises of a more civil rights-forward regime gave the people hope that Brazil would have a better future from now on. But beyond their aspirations for national policies, Lula sets the standard in international affairs and foreign relations.
We are all aware of the more active role Brazil has been taking on the international community with their expansion of BRICS and its participation in writing the most promising cease-fire agreement regarding the current conflict in Gaza. And on top of this, Brazil is aiming to promote serious investments in the protection and sustainable exploration of the Amazon Forest.
In the recent roundtable meeting between Saudi Arabia and Brazil, the president invited the middle east countries to become partners in the development of a new sustainable energy matrix. claiming that in the future, Brazil can be referred to as the “Saudi Arabia of green energy” when recognizing the middle eastern potency’s important role in oil production.
Brazil’s aim for a more sustainable world comes from the fact that one of the most important symbols for the protection and development of green energy is the Amazon Rainforest, which has a majority presence in the country’s territory. So as much as the development of green energy can have great consequences for the world, we must understand that the drive for it to be protected would be the amount of investment Brazil would see from foreign countries. We can never forget that people rule countries, and people’s interests are limited to what would be best for their age-restricted lives.
Nonetheless, Brazil is seen as an important market for investing in renewable energy. The continuous growth the country is achieving is eye-catching, or at least should be, for the international community. According to Bloomberg New Energy Finance, Brazil is expected to attract U$300b in infrastructure investments in the energy sector in 2024, of which 90% would come from renewable sources.
Investments in green energy can have dire consequences for the entire globe. Positive consequences can ensure a livable world and a significant setback for climate change. In 2021, a record number of solar projects were registered with the National Electric Energy Agency in Brazil, and we are now waiting for the ratification of some specific legislation.
In conclusion, with the newly elected president, the chances of a change for the better are actually visible and reachable, as Lula’s presidential promises signify a turning point in both national and international policies, especially when it comes to sustainability investments. The alliances in the works are strategic, would xrepresent a step forward in Brazil’s role in the international community, and would establish Brazil as an important player in green development.
By The European Institute for International Law and International Relations
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