Sector / Energy
- Trend analysis
The transition to a low carbon economy in Brazil can bring several business opportunities for energy companies. In this context, Equinor invited Clarissa Lins, founding partner of Catavento, to participate in a cycle of strategic presentations for company executives about the Brazilian reality.
In her presentation, Clarissa initially focused on the aspects that place Brazil in a unique position in relation to its energy and emissions profiles. The strong presence of renewables in the power mix was addressed, which makes the Brazilian energy sector less of an emitter than the global average. However, Clarissa pointed out that with the expected growth in energy demand, an even more significant increase in the supply of clean energy would be necessary in a scenario of decarbonization. It was also pointed out that land use change, largely caused by illegal deforestation, is the largest source of greenhouse gas emissions in Brazil and a challenge for the country and its climate goals.
In the second part of the presentation, given the challenge of providing low-carbon energy to meet Brazilian and global demands, Clarissa focused on opportunities of the energy transition and how the O&G industry in Brazil would have the potential to address them in diversification strategies. The Brazilian differentials for technologies such as offshore wind generation, green hydrogen and carbon capture and storage were highlighted by addressing the country’s natural resources and public and private movement in relation to these themes. Likewise, the potential of onshore solar and wind energy was also addressed, and it was pointed out that in the last decade there was a significant gain in scale of these renewable sources in Brazil.
Finally, nature-based solutions and the opportunities that Brazilian forests can provide in a low-carbon context were addressed. Clarissa highlighted the vast Brazilian potential for forest protection and restoration. She also highlighted the role of voluntary carbon markets in providing greater scale, liquidity, and integrity to such projects.
Equinor is an international energy company, headquartered in Norway and operating in over 30 countries. It has been present in Brazil for almost 20 years, focusing on O&G exploration and production and on renewable energies. The company has a long-term commitment to Brazil, one of the three priority countries for its investments in the coming decades. The company has a diversified oil and gas portfolio in the country, with licenses in different stages – exploration, development, and production – in the Campos, Santos and Espírito Santo Basins. The first solar plant in Equinor’s global portfolio is also located in Brazil, in the state of Ceará, with the capacity to generate power for 200,000 Brazilian families.
Source: Equinor website