Brazil's Finance Minister Rebuts Bill Gates, Says Country Will Not Trade Clean Energy for Dirty Energy - Folha de S.Paulo

Brazil’s Finance Minister Fernando Haddad responded on Tuesday (4) to statements by Microsoft co-founder Bill Gates, who questioned "apocalyptic" views on climate change. Speaking at a Bloomberg event in São Paulo, Haddad said Brazil has no intention of abandoning its environmental agenda.

"Brazil’s competitive advantages align with the climate agenda. Regardless of what Bill Gates thinks, Brazil has clean and cheap energy, and it makes no sense for us to trade it for dirty and expensive energy," he said. The minister also criticized lobbying efforts from the power sector, citing interests tied to coal and gas.

Gates had published a memo arguing that, despite the severe impacts of global warming, humanity is not at risk of extinction.

Haddad reiterated that Brazil will continue to advance its energy transition and highlighted the Tropical Forests Forever Fund (TFFF), which aims to raise US$10 billion by 2026. The minister described the fund as Brazil’s "flagship project" for COP30, which begins next Monday (10) in Belém, in the country’s north.