The Port of A?u at COP28

The global importance of COP

At COP28, being held in Dubai, the highlight was the speed with the fund for loss and damage caused by the impact of climate change around the world was set up. Through the initiative, the approximately US$ 420 million (more than R$ 2 billion) raised by some of the countries participating in the meeting, including members of the European Union, the United Arab Emirates, and the United States, are available to the poorest and most vulnerable countries in cases of global loss and damage related to the climate.

While the speed with which the fund was created was the main talking point at the beginning of this edition, the stocktake regarding progress in the implementation of the Paris Agreement is a concern because of the lag in achieving the goals that have been set.

The importance of ports in the pursuit of decarbonization

Ports are essential gateways for components and raw materials, and some - such as the Port of A?u - are port-industrial complexes with infrastructure for the installation of companies in different sectors. Today, we have different projects for the local production of green and low-carbon energy, and the supply of installed companies. Our Hydrogen and Low Carbon Derivatives Hub, in the licensing phase, has a projected investment of R$ 40 billion.

The Paris Agreement

Signed in the French capital in 2015, this proposes the implementation of measures that must be adopted by the 195 signatory countries to keep global warming below 2°C by the end of the century, with a limit of up to 1.5 °C – which is far from our current reality.

The Energy Transition

Most greenhouse gases, especially CO?, result from the burning of fossil fuels – another subject on the agenda at the event – and the way to limit the increase in temperatures, as provided for in the Paris Agreement, is the transition to the use of fuels that result in a low amount of carbon, or that do not have any CO? content in their burning, known as green fuel, which uses clean and renewable energy matrices, such as wind, solar, hydro, and biomass. All of them are found in abundance in Brazil, which, for this reason, is recognized as one of the main actors in the energy transition.

Hydrogen

This is one of the main components of clean fuel and industrial raw material, essential to global decarbonization, especially in industries that are difficult to abate, such as steel and fertilizers. Brazil is also one of the most competitive places in the world for the production of low-carbon hydrogen, resulting from the steam reforming of natural gas with carbon capture, and green hydrogen, obtained by the process of water electrolysis.

What else to expect from COP28

In addition to stocktaking and fossil fuels, compensation for countries affected by climate change and struggling to prevent it and adapt to it will be discussed in the coming days. The appeal for richer nations to pay this compensation is expected to be effective.

Another main theme is the financing of support for developing countries to prepare for climate change, which should be passed on by developed countries. The goal proposed by the Paris Agreement has not been met, and solutions are expected to be proposed this year. The UN reported a 15% fall in funding for climate change adaptation in 2021.

To learn more about the port-industrial complex of Porto do A?u and the renewable projects under development, visit: https://portodoacu.com.br/en/