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Home»Investment»Macron and Lula announce plans to invest €1 billion in Amazon
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Macron and Lula announce plans to invest €1 billion in Amazon

The Elite Times TeamBy The Elite Times TeamMarch 27, 2024No Comments4 Mins Read
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French President Emmanuel Macron began his visit to Brazil on Tuesday, where he and his counterpart Luiz Inacio Lula da Silva launched a billion euro Amazon green investment plan.

Publication of: 27/03/2024 – 04:29

3 minutes

With his visit to the city of Belem, site of the 2025 UN climate change talks, Mr Macron becomes the first French president to visit Brazil in 11 years, and has been at loggerheads with former president Jair Bolsonaro over environmental destruction and insulting his wife. After that, I am looking for a new start. Brigitte Macron.

The investment plan aims to raise “1 billion euros ($1.08 billion) in public and private investment over the next four years,” according to a roadmap published by the French presidential office ahead of next year’s COP30 summit. There is.

The announcement said the leaders aim to advance “a leading global public-private investment plan for the bioeconomy” in the Brazilian and Guyana Amazons, especially as Brazil holds the G20 Presidency in 2024.

France, the world’s seventh largest economy, and Brazil, the ninth largest economy, are seen as important players in a geopolitical scene marked by conflict between China and the United States.

Paris sees Brasilia as a bridge to emerging powers, where Brazil is seeking to increase its voice through its G20 presidency and membership in the BRICS+ group.

“We are living in a Franco-Brazilian moment,” Ellier’s office said earlier, highlighting “many points of agreement” with Lula, particularly on “major global issues.”

“France is an essential and inevitable part of Brazil’s foreign policy,” said María Luisa Escorer de Moraes, Brazil’s European foreign affairs chief.

Amazon’s top executive is awarded the Légion d’Honneur

Tuesday’s announcement proposes the creation of a “carbon market” aimed at rewarding countries that invest in natural carbon sinks such as the Amazon rainforest. The world’s largest tropical forests play a key role in the fight against climate change by absorbing carbon dioxide emissions.

Deforestation in Brazil’s Amazon was halved by 2023 as Lula’s government strengthened environmental police after surging under Bolsonaro.

According to the announcement, the agreement also includes support for “indigenous peoples and local communities in the Amazon who play an important role in protecting biodiversity through their traditional knowledge and forest management practices.” That’s what it means.

In Belém, President Macron was awarded France’s highest honor, the Legion of Honor, to tribal leader Raoni Métectile, who was recognized for his role as an “international figure in the fight for the protection of the Amazon rainforest and indigenous culture,” according to the French newspaper. Awarded the d’Honneur. Presidency.

Metukutile left her home in the Amazon more than 30 years ago to travel the world warning of the threats posed by rainforest destruction.

A striking figure with a large wooden lip plate and a yellow feather headdress, he has delivered messages to popes, royal families and presidents, and his status as an environmental activist is rising as awareness of the climate emergency grows.

Mercosur and Ukraine

France and Brazil are working together to build four conventionally powered submarines, the third of which is scheduled to be launched by the two leaders on Wednesday at the Itaguay naval base near Rio de Janeiro. Brasilia may also ask Paris for assistance in developing nuclear propulsion for a fifth submarine.

There are also more thorny topics, such as the long-stalled free trade agreement between the European Union and South America’s Mercosur region, which has recently been met with fierce resistance from European farmers.

President Macron said in January that France opposed the deal because it would not “make Mercosur’s farmers and businesses abide by the same rules as ours.”

Lula is expected to renew his call for the deal to be quickly signed, but both Paris and Brasilia said they believed the 20-year-old negotiations were not the main focus of Macron’s visit.

The war in Ukraine, which President Macron wants to make a major focus of the G20, is another issue. Lula, who has positioned himself as a defender of the “Global South,” has refused to take a stance against Russia, insisting that Kiev and Moscow share responsibility for the conflict.

(AFP)

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