COP27: importance of companies in the energy transition

Vice-president of the Global Compact Board comments on investments in renewable energy for climate action
17-11-22-canal-solar-COP-27 importância das empresas na transição energética
“It is necessary to create safe energy policies”, says Neoenergia executive. Photo: Freepik

A energy transition with renewable energy it is a solution to the climate crisis and the private sector is ready to invest and accelerate decarbonization.

This is the analysis of Solange Ribeiro, vice-president of Regulation, Institutional and Sustainability at Neoenergia and vice-president of the UN Global Compact Council.

The executive participated in the 27th edition of COP-27, which is being held in Sharm El Sheikh, Egypt, and reinforced the need to increase climate ambition between countries and companies.

Green hydrogen will be highlighted at COP27

Solange stated, at a Global Compact event, that companies are fundamental to providing security, stable energy prices and job opportunities.

“Decarbonization and profitability are completely compatible. The energy sector plays a crucial role in enabling other sectors to achieve climate goals,” he said.

“The current crises demonstrate the need to accelerate the energy transition to increase energy autonomy and reduce emissions. The structural solution is clear: more renewables, more networks and digitalization”, he emphasized.

For her, it is necessary for senior leadership to understand that the UN SDGs (Sustainable Development Goals) are not just a priority, but rather values inserted in the companies' most strategic forums and in decision-making.

Furthermore, he stated that it is necessary to create safe energy policies, encourage innovation and new technologies such as green hydrogen and promote multisectoral partnerships.

According to Solange Ribeiro, advancing the energy transition on a sustainable basis will require huge investments. “Investors have already understood that investing in companies that adopt sustainability in their strategy represents less risk to their business.”

“This capital market movement is aligned with Neoenergia's ESG strategy and we see it as a great opportunity to accelerate our investments in the growth of our renewable park, modernization and digitalization of the network and expansion of transmission lines, necessary for the decarbonization and electrification of the economy Brazilian”, he concluded.

Picture of Mateus Badra
Matthew Badra
Journalist graduated from PUC-Campinas. He worked as a producer, reporter and presenter on TV Bandeirantes and Metro Jornal. Has been following the Brazilian electricity sector since 2020.
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