Preventing Climate Disasters: Legal and Economic Aspects of the Implementation of the National Fund on Climate Change in Brazil

Abstract

The scientific and technological development over the course of the 20th century has changed the conditions of human life substantially by creating new ways of social, communicational, and economic interaction around the world. However, this new way of life has altered the environment and generated the unwelcome phenomenon of climate change. Several environmental disasters are occurring around the world because of climate change. In Brazil, climate change has caused environmental disasters such as droughts and floods. Before this situation, many countries have enforced new legal norms at national and international level in order to face this challenge. According to this trend, Brazil is committed to enforce new environmental legal norms and has created the National Fund on Climate Change. Thus, the objective of this paper is to study the legal and economic aspects related to the National Fund on Climate Change taking into account Brazilian national policies and economic data available at the International Energy Agency and at the Brazilian Energy Balance.