Tackling climate change and deforestation is back on the top of the Brazilian Federal Government’s agenda. The Ministry of Economy is developing an ambitious Ecological Transformation Plan which can be compared to the U.S. Inflation Reduction Act. Brazil’s commitment to return to its historically leading role in the international negotiations on climate change and sustainable development will culminate in the organization of COP30 in the city of Belém, in the Amazonian state of Pará. The path to ecological transformation in Brazil will include strengthening bioeconomy supply chains, setting up incentives for low-carbon economic development and halting deforestation in the Brazilian Amazon.
TNC is working with the Government of the State of Pará, indigenous peoples' organizations, traditional communities, and other stakeholders to build a jurisdictional climate governance framework with innovative financial mechanisms, digital supply chain traceability, social and environmental safeguards monitoring and equitable benefit sharing. This endeavor -- formulated as the Plan Amazônia Agora (PEAA, translating to the “Amazon Now Plan” in English) of Pará State -- will enable the achievement of the ambitious emission reduction and restoration targets. Promoting a strong bioeconomy is one of the central axis of both the PEAA and the Ecological Transformation Plan. A recent study indicates that the socio-bioeconomy in Pará State has the potential to generate an income of more than US $30 billion in 2040.
It is apparent that the future development plans for forest concessions, payments for services environmental services and biotechnology and genetic resources have the potential to attract much larger volumes of investment, generating more income for the local population. Indigenous peoples, quilombolas and traditional communities are the frontline leaders for nature conservation in the Amazon, and their role is essential for the successful development of socio-bioeconomy supply chains. In light of the renewed cooperation between the United States and Brazil to tackle deforestation and climate change, this panel will address the design and implementation – at the national and state levels – of institutional frameworks, governance mechanisms and financial instruments that are enabling conditions for an ecological transformation of the Brazilian economy.