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🗞️ Driving the news: Brazilian President Luiz Inácio Lula da Silva is pushing for environmental regulators to approve exploratory oil drilling near the Amazon, arguing that revenues could help fund clean energy projects
• The proposed offshore site, Bloc 59, was previously rejected by Brazil’s environmental agency, Ibama, over concerns about potential oil spills
• State-owned Petrobras has appealed the decision, and a ruling is pending

🔭 The context: Lula's stance puts Brazil in a complex position as it prepares to host the 2025 UN Climate Summit (COP30) in Belem, near the drilling site
• While Brazil is a major oil producer and exporter, about 90% of its electricity already comes from renewable sources
• Critics argue that approving new fossil fuel exploration contradicts global efforts to phase out oil and reduce carbon emissions

🌍 Why it matters for the planet: Drilling near the Amazon, one of the world's most biodiverse regions, raises concerns about environmental damage and carbon emissions
• Brazil has positioned itself as a climate leader, but approving new oil projects ahead of COP30 could undermine its credibility
• The decision will signal whether Brazil prioritizes economic gains from oil or a firm commitment to a green transition

⏭️ What's next: Lula insists that proper environmental safeguards will be followed, but environmental groups warn that oil exploration conflicts with Brazil's climate goals
• If approved, the project could intensify global scrutiny of Brazil’s policies at COP30
• The final decision from Ibama will determine whether Petrobras (see sustainability performance) can proceed with drilling

💬 One quote: “Exploring more oil is not a model action in the climate agenda.” — Marcio Astrini, Climate Observatory

📈 One stat: 90% of Brazil’s electricity comes from renewable sources, primarily hydropower

See here detailed sustainability performance of Petrobras

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