"It is useless to carry out the same actions expecting different results": BIOFIX at COP28

Biofix participated in the Abema Day debate panel this Friday (12/08) in Dubai, United Arab Emirates. This event complemented the initiatives of the 2023 United Nations Climate Change Conference (COP28), featuring various authorities discussing" collaboration between governments and businesses for environmental sustainability."

Jerónimo Roveda, Legal Director of Biofix in Brazil and expert in environmental law, the carbon market, and traditional communities, provided a brief overview of COP28, emphasizing that the key message of this edition for the world was the need to strengthen public-private partnerships.

"This is a cross-cutting agenda. This is how capital will come. This is how environmental financing will arrive. That is the big message being conveyed," stated Roveda.

For the Legal Director of Biofix, in this context, strengthening territorial governance and socio-economic development, not just passively receiving resources, is essential to ensure environmental protection.

"We develop carbon credit projects in indigenous communities, and while there is talk of climate finance and payment for forest protection, the additional benefits (social and economic) for those who care for these territories are fundamental. Action is directly linked to the Environmental, Social, and Governance (ESG) agenda," Roveda explained.

Roveda emphasized that the numbers speak for themselves:

"It is useless to carry out the same actions expecting different results. And the numbers prove it. Today, approximately 37 billion tons of carbon are emitted annually, and we prevent/remove around 300 million. Looking at the last 26 years, we have emitted 900 billion tons of CO₂, and we have not managed to remove 10% of that. Something is wrong," he reflected.

In the carbon credit sector, the panel highlighted recent results and efforts to integrate public-private initiatives. According to the expert, nature-based solutions can contribute 37% of the necessary low-cost mitigation efforts. Of that percentage, according to a McKinsey study, 84% consists of REDD+ projects.
"The benefits go beyond environmental care: they generate jobs, income, and environmental protection. That is why the convergence between the private and public sectors is essential. We have already been working on integrating jurisdictional state projects with individual corporate projects," stated Roveda during Abema Day, an event coordinated by the Brazilian Association of State Environmental Entities (Abema)