Brazil Presidential Candidate Proposes Clean Energy Incentives

Feb 04, 2014 6:09 pm ET

Feb. 4 (Bloomberg) -- Brazilian presidential hopeful, Pernambuco state governor Eduardo Campos, proposed incentives for renewable energy in a set of guidelines outlining his new coalition’s policies.

“The transition to a low-carbon economy needs to be stimulated,” according to the guidelines released today in Brasilia. The document includes tax, fiscal and credit incentives to spur wider use of clean energy.

Former environment minister Marina Silva, best known as a champion for conservation of the Amazon forest, forged an alliance in October with Campos’s Brazilian Socialist Party. Together they outlined their proposals in Brasilia ahead of the Oct. 5 presidential election.

“Changing the model is wisely using our natural resources so that Brazil can transform its comparative advantages into competitive advantages,” Silva told supporters in Brazil’s lower house of Congress. “It’s no use saying we’re giants because of our nature if we don’t make good use of our resources.”

Campos trailed in third place in a November Datafolha poll with 11 percent of voter support, compared with Senator Aecio Neves with 19 percent and President Dilma Rousseff with 47 percent.

--Editors: Will Wade, Andrew Hobbs