[Event coverage article] TCU discusses the Amazon and low-carbon future at COP29

The Vice President of the Brazilian Federal Court of Accounts (TCU), Minister Vital do Rêgo, represented the institution in a series of high-level events during the first days of the global conference.

Over the first two days of the 29th United Nations Climate Change Conference (COP29), held from 11 to 22 November 2024 in Baku, Azerbaijan, Brazil’s Federal Court of Accounts (TCU) took part in several strategic engagements. The TCU’s participation underscored the institution’s commitment to the global climate agenda and to advancing the transition toward a low-carbon economy.

The Court’s Vice President, Minister Vital do Rêgo, represented the TCU in multiple activities and contributed to discussions on issues central to Brazil’s sustainable development. He highlighted the importance of integrated audits and public policies that foster a sustainable future, emphasizing the role of Supreme Audit Institutions (SAIs) in promoting transparency and integrity in climate-related actions.

Industrial Sector and the Climate Agenda

On the first day of the TCU’s participation, Minister Vital do Rêgo attended the opening of the National Confederation of Industry (CNI) pavilion. Representatives from CNI stressed the need for building consensus within Brazil’s industrial sector to advance progress toward the Paris Agreement goals.

Minister Vital underscored the relevance of these initiatives to strengthening Brazil’s green economy and highlighted the TCU’s oversight role in monitoring industrial practices aimed at sustainability. He emphasized the importance of audit institutions in ensuring transparency and efficiency across decarbonization projects and value chains.

“The CNI pavilion represents the importance of cooperation and dialogue between the public and private sectors in building a sustainable future,” said the Minister.

At the event, CNI presented a range of initiatives focused on decarbonization and energy transition, addressing topics such as renewable energy and circular economy practices, both essential to achieving Brazil’s climate goals.

COP30 Day: Legal Amazon Consortium

The Interstate Consortium of the Legal Amazon drew attention at COP29 with the launch of the “Baku to Belém” initiative — an effort to prepare global leaders and stakeholders for COP30, which will take place in Belém, Brazil, and place the Amazon at the heart of climate discussions.

Alongside Governor Helder Barbalho of Pará, Minister Vital do Rêgo reaffirmed the TCU’s commitment to Amazon sustainability and transparency in environmental public policies.

“The Amazon is not just a region — it is a mosaic of peoples, cultures, and ecosystems. Our task is to respect this complexity and honor the responsibility embedded in every decision we make,” he stated.

The Consortium’s agenda focused on key priorities such as climate finance and green infrastructure, both fundamental to the region’s sustainable development. Expectations are high for climate finance to be one of the central themes at COP30, where Brazil is expected to lead discussions on the New Collective Quantified Goal (NCQG) — the mechanism that will succeed the previous US$100 billion commitment.

Low-Carbon Economy

On 14 November, the TCU also took part in the seminar “Business Dialogue for a Low-Carbon Economy,” organized by the National Confederation of Industry (CNI). During the panel, Minister Vital do Rêgo observed that recent UN Climate Conferences (COPs) reflect a global movement increasingly focused on balancing economic development with environmental sustainability.

“We must move beyond the notion that economic growth and environmental protection are opposing forces,” said the Minister, emphasizing that this shift in thinking is driving a new era of integration between these two pillars.

When addressing the strategic importance of the Amazon, Minister Vital highlighted the biome’s vastness and complexity — covering around 65% of Brazil’s territory and home to more than 28 million people, including 60% of the country’s Indigenous population.

“Brazil has the potential to move beyond being merely an exporter of agricultural and mineral commodities and to become a global leader in the green economy,” he said.

According to the Minister, sustainable use of the Amazon’s natural assets — estimated to generate up to R$1 trillion annually — represents both an economic and social opportunity for the country.

Minister Vital also emphasized the importance of a “neo-industrialization” process in Brazil, coupled with greater social responsibility among national business leaders, who are becoming increasingly aware of their environmental impact.

“We are witnessing a transformation within Brazil’s business community, which now understands that its future depends on the actions it takes today,” he stated. He concluded by stressing that a strong alliance between the private sector, government, and civil society is essential to the success of a low-carbon economy.

Finally, Minister Vital reaffirmed the role of the Federal Court of Accounts in overseeing sustainability initiatives, noting that the TCU will continue to audit and monitor public climate policies to ensure Brazil advances toward a sustainable economy and maintains a leadership role in the global green transition.

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News article covering the TCU’s participation in the opening days of COP29, highlighting discussions on the low-carbon economy and Amazon sustainability. Originally published on the TCU’s official website.