The objective was to study opportunities on how to boost green investments in the region

Recife (PE) was the stage, on April 23, for the event Powershoring: Energy Transition and the Neo-industrialization of Pernambuco, which discussed the potential of Brazil, with the Northeast playing the leading role and, in particular, Pernambuco, based on Powershoring – a decentralization strategy of production in regions such as Europe and Asia to countries that are closer to the consumption centers and that offer clean, cheap and safe energy.

Organized by the Government of the State of Pernambuco, in partnership with the Institute for Climate and Society (iCS), the Development Bank of Latin America and the Caribbean (CAF) and the International Finance Corporation (IFC), the meeting studied possibilities for the implementation of green investments in the region.

“(It is important) we see how we can scale renewable energy in the region, and also offer the infrastructure to attract investments for the purpose of producing locally and, above all, discuss what is necessary to build an ecosystem that develops value chains around renewable energy sources in order to generate more jobs and opportunities. iCS is very happy with this and other collaborations, because the potential of renewable energy is here and this is where we want to invest,” said Maria Netto, the executive director of the Institute for Climate and Society.

“This is a strategic partnership with CAF, the World Bank and iCS. Pernambuco is a reference. We need to look to the future, guaranteeing that our state grows sustainably and fairly,” said Raquel Lyra, the Governor of Pernambuco.

Guided by the climate agenda, Powershoring is based on the urgency of global decarbonization. Brazil, with its mostly clean energy matrix, has a 30-year advantage over many developed countries. However, the political-regulatory and financial environment needs to advance. Bold public policies are necessary, as well as broad Public and Private Partnerships to remove obstacles to decision-making and to work with development banks and sovereign wealth funds for the creation of an enabling environment,” added Victoria dos Santos, a specialist in Industry at iCS.

Jorge Abarche, the vice-president of the CAF, and Diogo Bardal, the operations officer at IFC (World Bank), participated in the event.

Watch the event in its entirety here: https://lnkd.in/dsm6vS3s

The meeting studied opportunities on how to boost green investments in the region. Credit: Andrey Lucas (SDEC – Secretary of Economic Development of Pernambuco)

The event was organized by the Government of the State of Pernambuco, in partnership with the Institute for Climate and Society (iCS), the Development Bank of Latin America and the Caribbean (CAF) and the International Finance Corporation (IFC). Credit: Andrey Lucas (SDEC – Secretary of Economic Development of Pernambuco)

Event “Powershoring: Energy Transition and the Neo-industrialization of Pernambuco.” Credit: Andrey Lucas (SDEC – Secretary of Economic Development of Pernambuco)

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