Day: September 7, 2020

Greenpeace urges Canada to suspend trade talks with Brazil

Canada’s federal government is being urged to halt trade talks with Brazil after another summer of record-breaking fires in the Amazon rainforest. New data from Brazil shows the fire has destroyed 30% more of the forest, compared to 2019. France and Germany have both halted further movement to ratify Europe’s free-trade deal with the Mercosur bloc, which includes Brazil, Argentina, Paraguay and Uruguay. Greenpeace Canada campaign manager, Reykia Fick, said Canada needs to pull out of trade talks as the government cannot be rewarding the destruction of the Amazon and claim to be a climate leader.

Brazil & Mexico adopt different fiscal policies to combat COVID-19

The divergence between Latin America’s two largest economies, Brazil and Mexico, is widening as the countries’ leaders adopt stridently different fiscal responses to COVID-19. While Brazil’s economy shrank by a record 9.7% in the second quarter, Mexico’s GDP plunged by a staggering 17.1%. Brazil’s Government spent millions on unemployment benefits, while Mexico’s Government has spent very little. According to the International Monetary Fund data, the bank pegged Brazil’s fiscal effort at a whopping 6.5% of GDP – dwarfing Mexico’s spending to just 0.7% of GDP.

Brazil ranks 16th in list of economies with the worst investment rates

According to data from the International Monetary Fund (IMF), in 2019 Brazil ranked 16th in the list of economies with the worst investment rates in proportion to the GDP, of a total of 170 countries analysed. 91% of the world has invested more than Brazil. The Brazilian investment rate, which reached 20.9% of GDP in 2013, was severely impacted by the recession in the following years, falling to only 15.4% of GDP in 2019.

Engie to build 10.8 MWp of solar DG for BC Energia in Brazil

Engie Brasil Energia SA has been selected by local renewable generation company BC Energia to build for it 10.8 MWp of solar distributed generation (DG) plants. The seven photovoltaic (PV) systems will be located in the states of Goias (4.6 MWp), Minas Gerais and in the Federal District. Together, these plants can produce 21 GWh per year of clean electricty, according to the Brazilian unit of Engie SA. When completed, this solar portfolio will increase BC Energia’s annual output to a total of 35.5 GWh by 2021.