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Brazil to push social diversity as criteria for sustainable investments at COP30
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Brazil to push social diversity as criteria for sustainable investments at COP30
Feb 6, 2025 7:39 AM

BRASILIA, Feb 6 (Reuters) - Brazil plans to propose

social diversity as a global criteria for labeling sustainable

investments at the U.N. climate summit it will host this year, a

senior official said on Wednesday, despite rising resistance to

diversity goals in some corners.

Cristina Reis, deputy secretary for sustainable economic

development at Brazil's Finance Ministry, told Reuters that the

government is already including racial and gender equality among

national standards for classifying investments as sustainable.

President Luiz Inacio Lula da Silva has worked to position

Brazil as a destination for sustainable investments, with a new

regulated carbon market and "green" sovereign bond issuances.

While some see the return of U.S. President Donald Trump as

a setback for Brazil's climate ambitions and global cooperation

to reduce greenhouse gas emissions at the COP30 in November,

Reis said the host country is undeterred.

"This international alignment faces setbacks over time and

across regions, but it follows a common direction that I believe

persists ... because we face an undeniable, life-threatening

challenge: climate change," she said.

Brazil has prioritized developing a national "taxonomy" of

sustainable investments this year, Reis said, and it aims to

propose some elements, including diversity-based standards, for

global adoption at the COP30 as part of a "supertaxonomy."

She said using diversity as a criteria to label corporate

investments as sustainable would be "a very feasible technical

and methodological path" for more countries.

In his first days in office, Trump pulled the U.S. out of

the Paris Agreement - the international treaty aimed at curbing

global warming - and moved to dismantle diversity, equity, and

inclusion (DEI) policies in the federal workforce.

Major U.S. companies, including Alphabet's Google,

Meta and Amazon ( AMZN ) have also rolled back their

DEI initiatives.

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