Brazil pledges to cut greenhouse gas emissions

The world’s seventh biggest greenhouse gas polluter said it would cut its emissions by 37 percent by 2025 from 2005 levels by reducing deforestation and boosting the share of renewable sources in its energy mix.

Rousseff said the nation also hoped to reduce emissions by 43 percent by 2030.

The president of Brazil vowed to reduce the country’s carbon emissions significantly in a speech to the United Nations Sunday.

The Brazilian president has made climate change one of her top priorities throughout her term. And these objectives should be “consistent with the principle of common but differentiated responsibilities”.

Brazil is “extremely concerned” about companies that have debt in dollars, President Dilma Rousseff (pic) told reporters in New York, after volatility in the country’s foreign exchange market last week reached the highest level in nearly four years.

Political uncertainty has aggravated what is expected to be Brazil’s longest recession since the 1930s, and was cited by Standard & Poor’s as part of their decision to downgrade Latin America’s largest economy to junk status.

“By launching a robust national climate action plan today, Brazil has shown that it is getting serious about its role in bringing countries together to shape the comprehensive climate agreement in Paris this December”, said Caio Koch-Weser, Vice Chair for Deutsche Bank.

Nonetheless, Rousseff’s pledge to slash emissions and massively expand renewable power sources marks out Brazil as the only developing country that has assumed that it has already peaked in 2005 and one of the few that have a concrete emissions target. “Sustainable development requires us to commit to the promotion of decent work and the generation of quality jobs and opportunities”.

“The efforts to eradicate poverty and promote development must be collective and global”.

She also added that these efforts will continue.

The United Nations officially adopted a new set of post-2015 global goals this week.

The new agenda consists of 17 goals created to end poverty and hunger by 2030.