SAO PAULO – Twenty countries are drafting a joint declaration on promoting and investing in low-carbon fuels, as well as developing a sustainable bioeconomy to mitigate the impact of climate change, Brazilian Foreign Minister Aloysio Nunes said on Tuesday.
“Participating countries are working on a realistic and ambitious declaration that will consolidate our countries’ positions regarding the future of the bioeconomy,” Nunes said during the opening of Biofuture Summit 2017 in Sao Paulo.
The declaration “will include a strong call to action to spur promotion and investment” in non-fossil fuels, especially in transportation, which accounts for almost one-quarter of global CO2 emissions, the foreign minister said.
The Sao Paulo conference is the first under the Biofuture Platform, an international initiative currently being coordinated by Brazil as a follow-up to the goals set at the Rio+20 meeting and the Paris Accord on Climate Change.
The other countries in the group are Argentina, Canada, China, Denmark, Egypt, the United States, the Philippines, Finland, France, India, Indonesia, Italy, Morocco, Mozambique, the Netherlands, Paraguay, the United Kingdom, Sweden and Uruguay.
The declaration approved in Sao Paulo will be submitted to the 23rd session of the Conference of the Parties (COP 23) to the UN Convention on Climate Change (UNFCCC), which will take place in November at the UNFCCC Secretariat headquarters in Bonn, Germany.
“It will be necessary to overcome challenges and to make the investments that are not coming as needed,” Nunes said. “It will be necessary to foster a business environment favorable to this sector.”