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☆ Brazil touts climate credentials as Amazon deforestation falls — but draws criticism over oil bet
▼ + stars: | 2023-09-29 | by ( Sam Meredith | ) www.cnbc.com time to read: +7 min

It's welcome news for Lula, who has promised to achieve zero deforestation in the Amazon by 2030 and is seeking to repair his country's environmental reputation. The government, however, has received criticism over its plans to open new oil fields near the mouth of the Amazon River. Dave Benett | Getty Images Entertainment | Getty ImagesThe Amazon is critical in absorbing the planet's carbon dioxide — making it a vital bulwark in the fight against climate change. Txai Surui, an indigenous leader and activist from the Brazilian Amazon, welcomed the trend of falling Amazon deforestation but criticized Lula's administration for its willingness to potentially develop offshore oil. "How are you doing agreements about deforestation and all these things and yet you want to explore [for oil]?"

Persons: Michael Dantas, Luiz Inácio Lula da Silva, Lula, Jair Bolsonaro's, Guajajara, Bolsonaro, Sonia Guajajara, Txai Surui, Dave Benett, Buda Mendes, Rui Costa, Costa, Lula's, Surui, Brazil's, Brazil Luiz Inácio Lula da Silva, Andressa Anholete, Guillermo Lasso, Tipping, Brazil's Guajajara Organizations: Afp, Getty, CNBC, IBAMA, FUNAI, Indigenous Peoples, Petrobras, Reuters, Amazon, Nature Sustainability, U.N Locations: Manaquiri, Amazonas, London, Indigenous Peoples of Brazil, Annabel's, England, Brazil, Maracana, Rio de Janeiro, Buda, Planalto, Brasilia, Ecuador

☆ After Xi's G20 absence, China says willing to play role in APEC's success
▼ + stars: | 2023-09-26 | by ( ) www.cnbc.com time to read: +1 min

China is willing to play a "constructive" role in the success of the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco, its top diplomat said on Tuesday, after President Xi Jinping's absence at the annual Group of 20 summit in India. "As the world's largest developing country and an important member of APEC, China is willing to comply with the expectations of the international community and play a constructive role in the success of APEC this year," said Chinese Foreign Minister Wang Yi. Xi, with no official explanation, did not go to the G20 summit in New Delhi this month, with the Chinese premier, Li Qiang, attending in his place. That prompted the United States to say China was "giving up" on the G20 and was building an alternative world order. "Of course, we and all parties hope that the United States will recognize its responsibility as the host, demonstrate openness, fairness, inclusiveness, and responsibility, and create better conditions for the smooth holding of the meeting," Wang said at a news conference, when asked whether Xi would attend APEC.

Persons: Cyril Ramaphosa, Brazil Luiz Inacio Lula da Silva, China Xi Jinping, India Narendra Modi, Sergei Lavrov, Xi, Wang Yi, Li Qiang, Wang Organizations: Russia's, United Arab, Economic Cooperation, APEC Locations: China, India, Argentina, Egypt, Ethiopia, Iran, United Arab Emirates, Saudi Arabia, Sandton, Johannesburg, South Africa, Asia, San Francisco, New Delhi, United States

☆ Brazil's Lula wants to discuss changes to UN Security Council with Biden
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

President of Brazil Luiz Inacio Lula da Silva and President Joe Biden walk along the West Colonnade to the Oval Office at the White House in Washington, U.S. February 10, 2023. Sarah Silbiger/Pool via REUTERS/File photo Acquire Licensing RightsSAO PAULO, Aug 29 (Reuters) - Brazilian President Luiz Inacio Lula da Silva said on Tuesday he wants to discuss the possibility of making changes to the United Nations Security Council with his U.S. counterpart Joe Biden. Lula, who has long campaigned for Brazil and other countries to be permanently included in the council, is expected to meet Biden on the sidelines of the U.N. General Assembly next month in New York. Last week, during a summit of the BRICS group of emerging nations in South Africa, the leftist leader called on fellow BRICS members China and Russia to support more countries entering the council as permanent members. The Brazilian leader added in a live broadcast on social media that BRICS members have agreed to discuss until next year's summit the possibility of establishing a common currency for trade between them.

Persons: Brazil Luiz Inacio Lula da Silva, Joe Biden, Sarah Silbiger, Luiz Inacio Lula da Silva, Lula, Biden, Gabriel Araujo, Eduardo Simoes, Kylie Madry Organizations: White, SAO PAULO, United Nations Security Council, U.S, General Assembly, Congress, Thomson Locations: Washington , U.S, Brazil, New York, South Africa, China, Russia, India, Germany, Japan

Some investors and economic analysts are sceptical that expansion will lead to increased foreign direct investment (FDI) within the bloc. Still, BRICS leaders and other investors touted the increased economic heft from the expansion. Increasing use of national currencies to reduce U.S. dollar dependence was another goal BRICS leaders discussed at the summit in Johannesburg. And with oil producer heavyweights among the newcomers, investors said this would feed speculation that Saudi Arabia might increasingly switch to non-dollar-denominated currencies for oil trade. "The short-term consequences could be seen in oil," said Kaan Nazli, a portfolio manager at asset manager Neuberger Berman in London.

Persons: Brazil Luiz Inacio Lula da Silva, China Xi, Cyril Ramaphosa, India Narendra Modi, Sergei Lavrov, Viktor Szabo, Li Kexin, Ola El, Chris Turner, Jakob Ekholdt Christensen, Hasnain Malik, abrdn's Szabo, Kaan Nazli, Neuberger Berman, Rachel Savage, Karin Strohecker, Bansari Mayur, Marc Jones, Jorgelina, Emelia Sithole Organizations: Russia's, Iran, United Arab Emirates, abrdn, Emerging Markets, ING, Reuters Graphics, China, International Monetary Fund, Thomson Locations: China, India, Sandton, Saudi Arabia, UAE, Iran, JOHANNESBURG, LONDON, Argentina, Brazil, Russia, South Africa, Ethiopia, Egypt, Johannesburg, United States, Saudi, London, Van Eck, New York, Copenhagen, Dubai, Bangalore, Rosario

Lula and counterparts Cyril Ramaphosa of South Africa, Chinese President Xi Jinping, and Indian Prime Minister Narendra Modi met for dinner and a mini-retreat on Tuesday evening. China and Russia are keen to expand BRICS to give the bloc more global clout. LEADERS DISCUSS MEMBERSHIP CRITERIAMore than 40 countries have expressed interest in joining BRICS, say South African officials. While no new members are expected to be admitted to BRICS during the summit, leaders are weighing a framework and criteria for joining, details of which could be included in a joint declaration due to be finalised on Wednesday. South African organisers say there will be no discussions however of a common BRICS currency, an idea floated by Brazil as an alternative to dollar-dependence.

Persons: Brazil Luiz Inacio Lula da Silva, China Xi, Cyril Ramaphosa, India Narendra Modi, Sergei Lavrov, Vladimir Putin, Luiz Inacio Lula da Silva, Lula, Cyril Ramaphosa of, Xi Jinping, Narendra Modi, Africa's Ramaphosa, Modi, Putin, Plessis, Krishn Kaushik, Joe Bavier, Emelia Sithole Organizations: Russia's, China, Washington, United States, Group, Indian, BRICS, U.S ., Thomson Locations: China, India, Sandton, JOHANNESBURG, Russia, Ukraine, South, Johannesburg, Brazil, United, Cyril Ramaphosa of South Africa, BRICS, Argentina, South Africa, Johanneburg, New Delhi

☆ Biden and Lula project unity on democratic values and climate change
▼ + stars: | 2023-02-10 | by ( Andrea Shalal | ) www.reuters.com time to read: +5 min

Brazil "self-marginalized itself for four years" under the former president, Lula said at the White House, without mentioning Bolsonaro by name. His world, Lula said, had "started and ended with fake news in the morning, afternoon, at night," prompting Biden to laugh and interject, "sounds familiar." Lula said the two leaders could also work together to combat inequality and climate change. Lula's visit to the White House followed a meeting with Senator Bernie Sanders and other lawmakers from Biden's Democratic Party. At the White House, Lula said the Amazon rainforest had been "invaded" under the previous administration, adding that he was committed to reaching zero deforestation by 2030.

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