IBOV 176,531 ▲ 0.45% IPSA 10,928 ▲ 0.16% IPC MEX 66,583 ▲ 0.93% MERVAL 3,221,642 ▼ 0.42% COLCAP 2,295.09 ▼ 0.55% BVL PERÚ 56,428.20 ▲ 1.17% USD/BRL5.07▼ 1.22% USD/MXN17.43▼ 0.55% USD/CLP925.50▼ 0.79% USD/COP3,247▼ 0.48% USD/PEN3.39▼ 0.61% USD/ARS1,470▼ 0.88% USD/UYU40.23▲ 0.99% USD/PYG6,039▲ 1.12% USD/BOB10.35▲ 6.04% USD/DOP58.25▲ 0.29% USD/CRC448.93▲ 1.31% USD/GTQ7.62▲ 2.07% USD/HNL26.73▲ 1.38% USD/NIO36.62▲ 0.63% USD/VES722.19▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD156.98▲ 0.25% USD/TTD6.75▲ 1.19% EUR/BRL5.80▼ 0.43% BRENT 85.14 ▲ 2.21% WTI 79.55 ▲ 1.80% IRON ORE 161.91 — — COPPER 6.37 ▲ 2.13% GOLD 4,059 ▲ 1.56% SILVER 59.09 ▲ 2.53% SOY 1,191 ▼ 0.96% CORN 459.50 ▲ 4.97% WHEAT 644.00 ▲ 2.71% COFFEE 327.00 ▼ 4.22% SUGAR 14.92 ▲ 1.15% ORANGE JUICE 140.90 ▼ 1.16% COTTON 81.68 ▲ 2.32% COCOA 5,936 ▲ 4.21% BEEF 231.58 ▼ 1.34% CATTLE 349.63 ▼ 1.33% LITHIUM 71.28 ▲ 1.48% PETR4 40.66 — 0.00% VALE3 74.23 ▲ 1.89% ITUB4 43.48 ▼ 0.09% BBDC4 18.59 ▼ 0.96% ABEV3 15.84 ▲ 0.06% BBAS3 20.59 ▲ 1.73% B3SA3 15.36 ▲ 1.59% WEGE3 44.44 ▲ 0.11% PRIO3 57.35 ▲ 0.26% SUZB3 41.34 ▼ 0.36% RENT3 40.42 ▲ 0.55% AZZA3 18.91 ▼ 1.61% CSAN3 3.89 ▼ 0.26% RAIZ4 0.31 ▼ 6.06% PCAR3 2.49 ▼ 3.86% GMAT3 3.99 ▲ 1.27% PSSA3 54.36 ▲ 0.59% CVCB3 1.39 ▲ 11.20% POSI3 4.00 ▲ 0.25% SLCE3 13.75 ▼ 0.87% NATU3 8.54 ▼ 0.70% BRKM5 6.71 ▼ 3.31% RANI3 8.02 ▲ 0.88% CSNA3 5.16 ▼ 1.53% CMIN3 5.12 ▼ 6.06% USIM5 8.28 ▼ 1.19% GGBR4 23.22 ▲ 1.75% ENEV3 26.96 ▲ 0.30% CPFE3 47.28 ▲ 0.94% CMIG4 11.19 ▲ 1.08% EQTL3 40.92 ▲ 1.77% LREN3 14.27 ▲ 0.85% VIVT3 35.62 ▲ 2.56% RAIL3 14.13 ▲ 0.14% KLABIN 17.45 ▼ 0.17% RAIA DROGASIL 18.46 ▲ 1.43% RDOR3 36.00 ▲ 1.24% HAPV3 11.10 ▲ 6.12% FLRY3 16.45 ▲ 1.86% SMTO3 16.18 ▼ 1.16% UGPA3 30.00 ▼ 3.01% VBBR3 33.03 ▲ 0.82% BBSE3 40.28 — 0.00% BPAC11 57.88 ▲ 0.63% CURY3 33.76 ▲ 1.93% AERI3 2.06 ▼ 0.96% VIVARA 23.44 ▲ 1.43% COMPASS 25.22 ▲ 1.82% VAMOS 3.14 ▲ 3.97% SANB11 27.40 ▲ 0.11% ASAI3 8.68 ▼ 0.34% SBSP3 30.34 ▼ 0.10% WALMEX 49.41 ▼ 0.48% GMEXICO 200.78 ▲ 2.65% FEMSA 232.02 ▲ 2.96% CEMEX 22.13 ▲ 1.61% GFNORTE 186.68 ▲ 2.53% BIMBO 56.30 ▲ 0.77% TELEVISA 9.55 ▼ 0.62% AMX 22.89 ▲ 1.33% GAP 395.51 ▼ 3.11% ASUR 277.93 ▼ 0.26% OMA 235.48 ▲ 0.93% KOF 180.40 ▼ 0.70% GRUMA 279.82 ▼ 0.55% KIMBER 38.48 ▲ 0.68% SQM-B 67,501 ▲ 0.43% COPEC 6,150 ▲ 1.53% BSANTANDER 78.69 ▲ 0.63% FALABELLA 5,913 ▲ 0.13% ENELAM 85.19 ▲ 1.18% CENCOSUD 2,052 ▲ 0.57% CMPC 1,080 ▲ 0.19% BANCO CHILE 188.03 ▲ 1.64% LATAM AIR 24.62 ▼ 1.12% YPF 77,525 ▲ 0.45% GGAL 7,920 ▼ 1.98% PAMPA 5,205 ▼ 0.38% TXAR 666.50 ▲ 0.30% ALUAR 949.50 ▼ 1.56% TGS 9,660 ▲ 0.94% CEPU 2,305 ▼ 0.60% MIRGOR 16,725 ▼ 1.62% COME 45.35 ▲ 1.27% LOMA NEGRA 3,515 ▲ 0.50% BYMA 301.75 ▼ 2.11% TELECOM ARG 4,310 ▲ 1.41% ECOPETROL 16.05 ▲ 1.07% BANCOLOMBIA 81.67 ▲ 1.55% GRUPO AVAL 4.92 ▲ 0.10% CREDICORP 391.39 ▲ 0.56% SOUTHERN COPPER 181.75 ▲ 4.14% BUENAVENTURA 30.84 ▲ 3.42% MERCADOLIBRE 1,866 ▼ 0.08% NUBANK 13.91 ▲ 1.72% XP 16.79 ▲ 2.57% PAGSEGURO 9.23 ▼ 0.54% STONE 11.20 ▲ 0.40% GLOBANT 31.21 ▼ 2.85% TECNOGLASS 43.85 ▲ 2.36% GAP AIRPORT 227.16 ▼ 2.41% ASUR 277.93 ▼ 0.26% OMA AIRPORT 108.25 ▲ 2.00% AMX ADR 26.21 ▲ 0.69% FEMSA ADR 132.83 ▲ 2.96% CEMEX ADR 12.76 ▲ 2.45% PETROBRAS ADR 17.93 ▲ 0.25% VALE ADR 14.58 ▲ 2.79% ITAU ADR 8.55 ▲ 0.89% SANTANDER BR 5.41 ▲ 1.03% AMBEV ADR 3.09 ▲ 0.98% CSN 1.03 — 0.00% GERDAU 4.59 ▲ 2.16% LATAM ADR 53.38 ▲ 0.09% BTC 64,474 ▲ 3.59% ETH 1,875 ▲ 5.75% SOL 77.13 ▲ 3.03% XRP 1.12 ▲ 4.70% BNB 579.84 ▲ 2.33% ADA 0.16 ▲ 3.80% DOGE 0.07 ▲ 3.16% AVAX 6.66 ▲ 3.35% LINK 8.27 ▲ 4.98% DOT 0.85 ▲ 1.25% LTC 44.88 ▲ 3.20% BCH 236.09 ▼ 0.06% TRX 0.33 ▲ 0.32% XLM 0.18 ▲ 2.30% HBAR 0.07 ▼ 0.08% NEAR 2.02 ▲ 5.33% ATOM 1.56 ▲ 1.37% AAVE 98.52 ▲ 4.41% SELIC 14.25% EMBRAER 82.93 ▼ 0.10% EMBRAER ADR 65.41 ▲ 1.44% JBS 11.87 ▲ 0.55% JBS BDR 60.16 ▼ 0.74% MBRF3 16.23 ▲ 3.24% MBRFY 3.15 ▲ 3.28% INTER 5.65 ▼ 0.09% EGX 52,299 ▼ 0.59% USD/ZAR16.38▼ 0.60% USD/NGN1,381▲ 0.07% NIKKEI 67,744 ▲ 0.74% CSI300 4,797 ▲ 2.15% HSI 24,341 ▲ 0.52% NIFTY 24,052 ▼ 0.66% KOSPI 6,857 ▲ 0.73% JCI 6,040 ▲ 0.03% USD/JPY162.16▼ 0.17% USD/CNY6.76▼ 0.26% DAX 25,147 ▲ 0.13% CAC 8,367 ▲ 0.03% FTSE 10,529 ▲ 0.30% MIB 52,863 ▲ 0.10% IBEX 19,357 ▲ 0.11% STOXX 642.10 ▲ 0.17% EUR/USD1.14▲ 0.39% GBP/USD1.34— 0.00% SPX 7,545 ▲ 0.40% DJI 52,534 ▲ 0.07% NDX 29,579 ▲ 1.08% RUT 2,964 ▲ 0.36% TSX 35,316 ▲ 0.18% VIX 16.42 ▼ 4.31% USD/CAD1.41▼ 0.62% US10Y 4.5850 ▼ 0.52% IBOV 176,531 ▲ 0.45% IPSA 10,928 ▲ 0.16% IPC MEX 66,583 ▲ 0.93% MERVAL 3,221,642 ▼ 0.42% COLCAP 2,295.09 ▼ 0.55% BVL PERÚ 56,428.20 ▲ 1.17% USD/BRL 5.08 ▼ 1.19% USD/MXN 17.43 ▼ 0.55% USD/CLP 925.50 ▼ 0.79% USD/COP 3,247 ▼ 0.48% USD/PEN 3.39 ▼ 0.62% USD/ARS 1,470 ▼ 0.88% USD/UYU 40.23 ▲ 0.99% USD/PYG 6,039 ▲ 1.12% USD/BOB 10.35 ▲ 6.04% USD/DOP 58.25 ▲ 0.29% USD/CRC 448.93 ▲ 1.31% USD/GTQ 7.62 ▲ 2.07% USD/HNL 26.73 ▲ 1.38% USD/NIO 36.62 ▲ 0.63% USD/VES 722.19 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 156.98 ▲ 0.25% USD/TTD 6.75 ▲ 1.19% EUR/BRL 5.80 ▼ 0.41% BRENT 85.14 ▲ 2.21% WTI 79.55 ▲ 1.80% IRON ORE 161.91 — — COPPER 6.37 ▲ 2.13% GOLD 4,059 ▲ 1.56% SILVER 59.09 ▲ 2.53% SOY 1,191 ▼ 0.96% CORN 459.50 ▲ 4.97% WHEAT 644.00 ▲ 2.71% COFFEE 327.00 ▼ 4.22% SUGAR 14.92 ▲ 1.15% ORANGE JUICE 140.90 ▼ 1.16% COTTON 81.68 ▲ 2.32% COCOA 5,936 ▲ 4.21% BEEF 231.58 ▼ 1.34% CATTLE 349.63 ▼ 1.33% LITHIUM 71.28 ▲ 1.48% PETR4 40.66 — 0.00% VALE3 74.23 ▲ 1.89% ITUB4 43.48 ▼ 0.09% BBDC4 18.59 ▼ 0.96% ABEV3 15.84 ▲ 0.06% BBAS3 20.59 ▲ 1.73% B3SA3 15.36 ▲ 1.59% WEGE3 44.44 ▲ 0.11% PRIO3 57.35 ▲ 0.26% SUZB3 41.34 ▼ 0.36% RENT3 40.42 ▲ 0.55% AZZA3 18.91 ▼ 1.61% CSAN3 3.89 ▼ 0.26% RAIZ4 0.31 ▼ 6.06% PCAR3 2.49 ▼ 3.86% GMAT3 3.99 ▲ 1.27% PSSA3 54.36 ▲ 0.59% CVCB3 1.39 ▲ 11.20% POSI3 4.00 ▲ 0.25% SLCE3 13.75 ▼ 0.87% NATU3 8.54 ▼ 0.70% BRKM5 6.71 ▼ 3.31% RANI3 8.02 ▲ 0.88% CSNA3 5.16 ▼ 1.53% CMIN3 5.12 ▼ 6.06% USIM5 8.28 ▼ 1.19% GGBR4 23.22 ▲ 1.75% ENEV3 26.96 ▲ 0.30% CPFE3 47.28 ▲ 0.94% CMIG4 11.19 ▲ 1.08% EQTL3 40.92 ▲ 1.77% LREN3 14.27 ▲ 0.85% VIVT3 35.62 ▲ 2.56% RAIL3 14.13 ▲ 0.14% KLABIN 17.45 ▼ 0.17% RAIA DROGASIL 18.46 ▲ 1.43% RDOR3 36.00 ▲ 1.24% HAPV3 11.10 ▲ 6.12% FLRY3 16.45 ▲ 1.86% SMTO3 16.18 ▼ 1.16% UGPA3 30.00 ▼ 3.01% VBBR3 33.03 ▲ 0.82% BBSE3 40.28 — 0.00% BPAC11 57.88 ▲ 0.63% CURY3 33.76 ▲ 1.93% AERI3 2.06 ▼ 0.96% VIVARA 23.44 ▲ 1.43% COMPASS 25.22 ▲ 1.82% VAMOS 3.14 ▲ 3.97% SANB11 27.40 ▲ 0.11% ASAI3 8.68 ▼ 0.34% SBSP3 30.34 ▼ 0.10% WALMEX 49.41 ▼ 0.48% GMEXICO 200.78 ▲ 2.65% FEMSA 232.02 ▲ 2.96% CEMEX 22.13 ▲ 1.61% GFNORTE 186.68 ▲ 2.53% BIMBO 56.30 ▲ 0.77% TELEVISA 9.55 ▼ 0.62% AMX 22.89 ▲ 1.33% GAP 395.51 ▼ 3.11% ASUR 277.93 ▼ 0.26% OMA 235.48 ▲ 0.93% KOF 180.40 ▼ 0.70% GRUMA 279.82 ▼ 0.55% KIMBER 38.48 ▲ 0.68% SQM-B 67,501 ▲ 0.43% COPEC 6,150 ▲ 1.53% BSANTANDER 78.69 ▲ 0.63% FALABELLA 5,913 ▲ 0.13% ENELAM 85.19 ▲ 1.18% CENCOSUD 2,052 ▲ 0.57% CMPC 1,080 ▲ 0.19% BANCO CHILE 188.03 ▲ 1.64% LATAM AIR 24.62 ▼ 1.12% YPF 77,525 ▲ 0.45% GGAL 7,920 ▼ 1.98% PAMPA 5,205 ▼ 0.38% TXAR 666.50 ▲ 0.30% ALUAR 949.50 ▼ 1.56% TGS 9,660 ▲ 0.94% CEPU 2,305 ▼ 0.60% MIRGOR 16,725 ▼ 1.62% COME 45.35 ▲ 1.27% LOMA NEGRA 3,515 ▲ 0.50% BYMA 301.75 ▼ 2.11% TELECOM ARG 4,310 ▲ 1.41% ECOPETROL 16.05 ▲ 1.07% BANCOLOMBIA 81.67 ▲ 1.55% GRUPO AVAL 4.92 ▲ 0.10% CREDICORP 391.39 ▲ 0.56% SOUTHERN COPPER 181.75 ▲ 4.14% BUENAVENTURA 30.84 ▲ 3.42% MERCADOLIBRE 1,866 ▼ 0.08% NUBANK 13.91 ▲ 1.72% XP 16.79 ▲ 2.57% PAGSEGURO 9.23 ▼ 0.54% STONE 11.20 ▲ 0.40% GLOBANT 31.21 ▼ 2.85% TECNOGLASS 43.85 ▲ 2.36% GAP AIRPORT 227.16 ▼ 2.41% ASUR 277.93 ▼ 0.26% OMA AIRPORT 108.25 ▲ 2.00% AMX ADR 26.21 ▲ 0.69% FEMSA ADR 132.83 ▲ 2.96% CEMEX ADR 12.76 ▲ 2.45% PETROBRAS ADR 17.93 ▲ 0.25% VALE ADR 14.58 ▲ 2.79% ITAU ADR 8.55 ▲ 0.89% SANTANDER BR 5.41 ▲ 1.03% AMBEV ADR 3.09 ▲ 0.98% CSN 1.03 — 0.00% GERDAU 4.59 ▲ 2.16% LATAM ADR 53.38 ▲ 0.09% BTC 64,474 ▲ 3.59% ETH 1,875 ▲ 5.75% SOL 77.13 ▲ 3.03% XRP 1.12 ▲ 4.70% BNB 579.84 ▲ 2.33% ADA 0.16 ▲ 3.80% DOGE 0.07 ▲ 3.16% AVAX 6.66 ▲ 3.35% LINK 8.27 ▲ 4.98% DOT 0.85 ▲ 1.25% LTC 44.88 ▲ 3.20% BCH 236.09 ▼ 0.06% TRX 0.33 ▲ 0.32% XLM 0.18 ▲ 2.30% HBAR 0.07 ▼ 0.08% NEAR 2.02 ▲ 5.33% ATOM 1.56 ▲ 1.37% AAVE 98.52 ▲ 4.41% SELIC 14.25% EMBRAER 82.93 ▼ 0.10% EMBRAER ADR 65.41 ▲ 1.44% JBS 11.87 ▲ 0.55% JBS BDR 60.16 ▼ 0.74% MBRF3 16.23 ▲ 3.24% MBRFY 3.15 ▲ 3.28% INTER 5.65 ▼ 0.09% EGX 52,299 ▼ 0.59% USD/ZAR 16.38 ▼ 0.50% USD/NGN 1,381 ▲ 0.20% NIKKEI 67,744 ▲ 0.74% CSI300 4,797 ▲ 2.15% HSI 24,341 ▲ 0.52% NIFTY 24,052 ▼ 0.66% KOSPI 6,857 ▲ 0.73% JCI 6,040 ▲ 0.03% USD/JPY 162.15 ▼ 0.17% USD/CNY 6.7624 ▼ 0.13% DAX 25,147 ▲ 0.13% CAC 8,367 ▲ 0.03% FTSE 10,529 ▲ 0.30% MIB 52,863 ▲ 0.10% IBEX 19,357 ▲ 0.11% STOXX 642.10 ▲ 0.17% EUR/USD 1.1429 ▲ 0.37% GBP/USD 1.3388 ▲ 0.29% SPX 7,545 ▲ 0.40% DJI 52,534 ▲ 0.07% NDX 29,579 ▲ 1.08% RUT 2,964 ▲ 0.36% TSX 35,316 ▲ 0.18% VIX 16.42 ▼ 4.31% USD/CAD 1.4068 ▼ 0.60% US10Y 4.5850 ▼ 0.52%
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Rio+20 Can – And Must – Defy the Cynics

By · January 24, 2012 · 4 min read

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Opinion, by Nathan Williams

RIO DE JANEIRO, BRAZIL – A gathering of world leaders for an ‘Earth Summit’ discussing solutions to everything from climate change to the eradication of poverty provokes inevitable cynicism in many people who view such summits as the vanity project of politicians out to save the world.

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Barely a year seems to go by without country leaders convening to discuss the world’s biggest challenges, but in the collective consciousness, prompted by a barrage of negative headlines in the media, the state of the world just seems to get worse. It is little surprise then that cynicism abounds and expectations for the next Earth Summit, Rio+20, to be held in Rio de Janeiro in June, are at rock-bottom.

Branding the summit ‘Rio+20’ also generates cynicism, inviting as it does a conversation about the perceived lack of progress since the original Earth Summit in Rio twenty years ago. On top of this, preparations for the summit have reportedly been shambolic, with many claiming the UN and general secretary Ban Ki-moon had no idea what to put on the agenda. With problems stacking up around the world, who could blame him for not knowing where to start?

The reason these summits rarely register as successes is because they are relentlessly hyped by egoistic politicians keen to secure their own legacy. They are always variously the ‘last’, ‘final’ or ‘best’ chance to change the course of events and make the world a better place.

The reality of global decision making can never hope to match the hype. These summits are too often seen as events, a defining moment in time which if not seized, all hope is lost. The truth of course is that they are not events but stages in a process which can lead to significant action being taken – and real change being effected.

In a world seemingly addicted to gloomy news, with war, famine and disease just a click of a mouse away, many would no doubt consider this view hopelessly naïve and optimistic. But a look back to the first Earth Summit in Rio twenty years ago demonstrates what can be achieved when vision, optimism and decision-making combine.

In Rio twenty years ago world leaders agreed for the first time a treaty to stabilise greenhouse gas emissions, the UN Framework Convention on Climate Change. This led to the signing of the Kyoto Protocol in 1997 which legally committed countries to reduce greenhouse gas emissions by 5.2 percent on 1990 figures by 2012. And the world has made significant progress.

In 2010 the Netherlands Environmental Assessment Agency reported that emissions were ten percent below 1990 levels, significantly under the Kyoto target level. And last year at the UN Climate Change Conference in Durban, South Africa, world leaders agreed – at the last minute – to negotiate a new legally-binding protocol to be introduced in 2020.

Alongside these global set-piece summits, country-blocs (such as the EU) and individual countries have introduced a raft of measures on sustainability, from legally-binding carbon reduction laws, to the EU’s emissions trading scheme. The creation of incentives for the development of renewable energies has also been a key focus for governments – and a major success. By the end of 2010 renewable energy supplied twenty-five percent of global energy capacity, according to the World Council for Renewable Energy.

However it is the host of the first Earth Summit which has made the most startling progress. In 1992 Brazil faced chronic inflation which made the lives of all but the wealthiest a daily struggle. On top of this, deforestation of the Amazon was threatening to spiral out of control.

Confronting climate change was a luxury Brazil couldn’t afford. Fast-forward twenty years and Brazil is now a leader on the global stage for the measures it has taken domestically.

On deforestation the country has taken a tough stance. The National Climate Change Plan requires an 80 percent reduction of Amazon deforestation by 2020. Data released last year by the Instituto Nacional de Pesquisas Espaciais showed that the country is well over three quarters of the way toward meeting that goal. Deforestation could even hit zero if current progress continues.

Brazil has also promoted renewable energy aggressively and effectively. A range of subsidizes and state support means that more than 45 percent of Brazil’s primary energy now comes from renewable sources. Action is also being taken at a state level, the most prominent example of which is the State of São Paulo’s adoption in 2009 of a law requiring a twenty percent reduction in greenhouse gas emissions by 2020 from 2005 levels.

Looking beyond climate change, Brazil’s anti-poverty initiatives have won praise globally, with the country recording an annual reduction in poverty of 3.2 percent since 1981 according to the World Bank Development Group.

Of course, only someone with delusional tendencies and particularly rose-tinted glasses would fail to acknowledge the other side of the story. There have been many summit failures along the way, most recently in Copenhagen in 2009, global temperatures continues to rise in spite of progress on reducing emissions and boosting renewables. Inequality and poverty still blight many parts of the world.

But there are real reasons for hope. When the chips are down, world leaders have shown encouraging resolve and a collective will to tackle the most intransigent problems humanity has created for itself. We should all hope that Rio+20 proves another successful stage in the longer process of making this planet a sustainable one on which everybody can live comfortably.

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