Forum Institutional

Davos 2023: Brazil on a new economic and environmental roadmap

Marina Silva, Minister of Environment and Climate Change of Brazil speaks at the Davos 2023 session titled 'Brazil: A New Roadmap'.

Marina Silva, Minister of Environment and Climate Change of Brazil speaks at the Davos 2023 session titled 'Brazil: A New Roadmap'. Image: World Economic Forum

Pablo Uchoa
Writer, Forum Agenda
Laura Beltran
Digital Media Specialist, World Economic Forum
Share:
Our Impact
What's the World Economic Forum doing to accelerate action on Forum Institutional?
The Big Picture
Explore and monitor how Brazil is affecting economies, industries and global issues
A hand holding a looking glass by a lake
Crowdsource Innovation
Get involved with our crowdsourced digital platform to deliver impact at scale
Stay up to date:

Brazil

This article is part of: World Economic Forum Annual Meeting
  • Similar to many other regions, Latin America faces economic, environmental and social challenges. In this context, two Brazilian Ministers joined the World Economic Forum's Annual Meeting in Davos to explore opportunities where Brazil can play a leading role in the years ahead.
  • These are the main takeaways from the session 'Brazil: A New Roadmap' with speakers Marina Silva, Minister of Environment and Climate Change of Brazil, Fernando Haddad, Minister of Finance of Brazil, and moderator Marisol Argueta, Head of the Regional Agenda for Latin America at the World Economic Forum.
  • Watch the full session here.

Brazil is one of the "big players" in the Latin American region with a relatively stable economy, emerging green technologies that can help advance the global energy transition, 60% of the Amazon rainforest and strategic natural resources, which are crucial to the global fight against climate change.

Brazil is very aware of these advantages that make it a vibrant and unique nation. According to the panellists, the country is formulating strategies to maintain economic and social stability, as well as to become a leading force for climate action. While facing many domestic challenges - as witnessed earlier this year when an opposition movement organized anti-democracy riots in Brasilia - and against an uncertain international backdrop, Brazil looks set to leverage its robust institutions to strengthen democracy and boost its economy.

Have you read?

When faced with challenges, we're able to respond in very few hours, showing that our institutions are strong.

Marina Silva, Brazilian Environment Minister

Economic outlook

Fernando Haddad acknowledged that the new government is grappling with a challenging financial outlook due to high levels of social spending, among other factors. The minister reinforced his previous pledge that Brazil will end 2023 with a primary budget deficit of 1% of the gross domestic product.

"We want to balance our accounts and this will come accompanied by regulatory measures on credit, reindustrialization, looking at the ecologic transition, and regional integration."

If we adopt the correct agenda and rebalance our accounts, Brazil will be able to grow above the global average like in the previous 8 years of Lula's government.

Fernando Haddad, Brazilian Finance Minister

Brazil and climate change

Being home to a wealth of nature, biodiversity and cultural diversity, climate is a key topic in the agenda for Brazil, in the context of the global race to net zero and climate neutrality.

Marina Silva, who is the daughter of Amazon rubber tappers, said that the country was the first developing nation to have established climate targets and is now ready to take on a leading role in the environmental agenda, for example, by leading a global initiative on forest protection.

We are back to the international agenda to talk about climate, to talk about ambitious targets for the climate and biodiversity.

Marina Silva, Brazilian Environment Minister

She said that Brazil is committed to zero deforestation by 2030 and has even offered to host the COP-30 in the Amazon - a gesture that can show the world and the Brazilian society that the government is serious about its environmental policies. She cautioned, however, that the world was yet to step up to its environmental commitments, adding: "We have good global regulation but the investments are lacking. The $100 billion that was pledged by the developed countries is still not here. We need to have resources for mitigation and adaption."

To host a COP meeting in the Amazon shows our commitment towards this biome. But the responsibility for preserving it is not ours alone. We need partnerships, technological support; we need the world to do its part.

Marina Silva, Brazilian Environment Minister

Investing for the future

Latin American economies were strongly aided by commodities at the turn of the century. In their absence this time around, Haddad said the Brazilian government would push for a “regional integration boom” to ease trade and attract investments”.

Haddad added that the private sector has a role to play in fostering sustainable and inclusive development. The corporate sector still needs to take tangible action for the environment, gender equality, inclusion, sustainability, energy transition, and human rights.

It is possible to engage CEOs and business leaders, not only heads of state and governments, around an agenda for civilization.

Fernando Haddad, Brazilian Finance Minister

Silva added that Brazil wants to lead by example. The country is hopeful that an economically prosperous, just, democratic and sustainable future can be achieved.

Loading...
Don't miss any update on this topic

Create a free account and access your personalized content collection with our latest publications and analyses.

Sign up for free

License and Republishing

World Economic Forum articles may be republished in accordance with the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Public License, and in accordance with our Terms of Use.

The views expressed in this article are those of the author alone and not the World Economic Forum.

Related topics:
Forum InstitutionalGlobal CooperationClimate Action
Share:
World Economic Forum logo
Global Agenda

The Agenda Weekly

A weekly update of the most important issues driving the global agenda

Subscribe today

You can unsubscribe at any time using the link in our emails. For more details, review our privacy policy.

Institutional update

World Economic Forum

May 21, 2024

About Us

Events

Media

Partners & Members

  • Join Us

Language Editions

Privacy Policy & Terms of Service

© 2024 World Economic Forum