A Brazilian minister says wealthier nations should foot the bill for the global energy switch since they are responsible for most emissions.
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According to Silveira, developing countries in the Southern Hemisphere will supply the industrialized world with clean energy, strengthening their position in international trade. The minister explained that Brazil would receive $400 billion in investments over the following ten years for the development of biofuels which would result in Brazilians' "liberation from the OPEC cartel.”
The transition away from fossil fuels, such as coal, oil, and natural gas, and towards renewable energy sources, such as hydrogen, is one of the key components of the global energy transition. Renewable energy sources are reported to be more sustainable and produce fewer greenhouse gases with their adoption contributing significantly to reducing the negative effects of climate change.
Silveira’s calls now highlight the need for wealthier nations to cooperate with the rest of the world to produce a fruitful and efficient energy transition that leaves no one behind.
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