Lula’s victory in Brazil sparks optimism on deforestation, with ramifications for the world
Luiz Inacio Lula da Silva, Brazil’s former president, center, addresses supporters after winning the runoff presidential election in Sao Paulo, Brazil, on Sunday, Oct. 30, 2022.
Bloomberg | Bloomberg | Getty Images
The narrow win by Luiz Inácio Lula da Silva in the Brazilian presidential election marks a key turning point on environmental issues, analysts say.
Da Silva, commonly known as Lula, took 50.9% of the second round vote to incumbent Jair Bolsonaro’s 49.1%, according to Brazil’s election authority.
The 77-year-old leftist campaigned on policies including exempting the lowest earners from income tax, raising the minimum wage and upping investment in public services to create new jobs. He has vowed to reduce poverty and boost economic growth, citing his record of doing so when he served two terms as president from 2003 to 2010.
The remarkable political return comes after he was jailed in 2017 on money laundering and corruption charges that were overturned in 2019.
“It’s a significant change, I can’t emphasize how much things will be different in this country with Lula’s election,” James Green, professor of Latin American History at Brown University, told CNBC’s “Squawk Box Europe” Monday, citing planned increases in welfare provision, more public-inclusive decision making, and the return of a “government of transparency.”
It also, Green said, “means a return to policies to save the Amazon.” As well as containing 25% of the world’s terrestrial biodiversity, the Amazon plays a crucial global role through storing billions of tons of carbon and releasing billions of tons of water each year.
Lula used his victory address to pledge to combat climate change and deforestation — issues observers say have not just been sidelined but severely worsened under Bolsonaro’s tenure.
Deforestation in the Brazilian Amazon rose to an all-time high in the first half of 2022 and was 80% higher than the same period in 2018, the year before Bolsonaro took office, according to a report by the Amazon Environmental Research Institute.
Bolsonaro has been criticized for enabling the proliferation of illegal activity in Brazilian rainforests — including land grabs and violence against indigenous people and campaigners — through funding cuts to on-the-ground law enforcement; slashing the national environment agency’s budget; seeking to overturn environmental regulations; approving thousands of new pesticides; and appeasing the country’s powerful agricultural businesses by failing to act on encroachment onto protected lands.
Brazil has also failed to detail plans to cut carbon emissions in line with international agreements, according to Human Rights Watch, and its emissions from agriculture and cattle-raising have risen to the highest level on record.
Bolsonaro’s office was not immediately available for comment when contacted by CNBC. Bolsonaro has previously said he was taking action to protect the rainforest; but he has also defended the expansion of mining projects, while also accusing foreign governments and the media of exaggerating the damage being done. In 2019, he told foreign journalists: “No country in the world has the moral right to talk about the Amazon. You destroyed your own ecosystems.”
Environmental turnaround?
Organized crime has taken hold of several areas of the Amazon during Bolsonaro’s presidency, with many illegal miners and land grabbers seeing him as an ally, Carlos Rittl, international policy advisor and Brazil specialist at Norwegian NGO Rainforest Foundation, told CNBC on a call.
“Around 95% of deforestation in the last four years in the Amazon has had some level of illegality,” he said. “Areas that should have remained as forest have become private land, indigenous land has been invaded. It has reached this level because of the inaction of the government.”
“If we take a look at the promises Lula has made, including in his victory speech last night, he was addressing several major problems but also net zero deforestation, protecting indigenous people’s rights,” Rittl continued.
“We can expect him to re-strengthen the environmental agency and recover the budget to allow them to act against environmental crimes” — but only so long as he “walks the talk,” Rittl said.
It won’t be easy or immediate, he added, for a variety of reasons. A 2023 budget has already been agreed and systems have to be rebuilt and put to work. Lula will be seeking consensus in a strongly divided country and political system. And things have changed since his previous term (when annual deforestation of the Amazon plunged from 25,396 sqkm in 2003 to 7,000 sqkm in 2010) due to higher levels of organized crime with a strong foothold.
International cooperation on these efforts will be important, Rittl added. Norway is already looking to resume aid for anti-deforestation efforts to Brazil, which it suspended during Bolsonaro’s term, local newspaper Aftenposten reported Monday.
Growth targets
A further challenge is the pressure on Lula to start delivering on the economy, job creation and poverty alleviation, themes he became known for during his previous term.
Brazil’s economy has stuttered over the last decade, falling into a deep recession 2015 and 2016 which was followed by a period of political instability. It was also heavily hit by the coronavirus pandemic, when its population suffered one of the world’s worst death tolls and inequality increased, according to think tanks. Inflation is set to average 5.8% this year and interest rates are near 14%.
Meanwhile, described by some commentators as socially rather than economically right wing, Bolsonaro also leaves behind various subsidy and unfunded spending programs that have added to Brazil’s high levels of debt, which Brown University’s James Green called a “series of time bombs.”
However, the Brazilian real has been among the only currencies to outperform the U.S. dollar this year due to commodities demand, central bank tightening and the economy’s distance from volatility such as the war in Ukraine.
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It remains to be seen how international investors will respond to the return of a Lula presidency, especially one with significant spending pledges to fulfil, and where he will take Bolsonaro’s planned pro-market reforms and privatizations.
The real dropped 2% on the news, before trimming losses, and shares in U.S.-listed Brazilian companies, including oil giant Petrobras, fell in pre-market trading.
The immediate concern for markets and also Brazilians and the international community is political stability during the handover of power, which is set to take two months.
There are still questions over whether Bolsonaro will challenge the election outcome. He could also seek to block a smooth transition, Green noted.
Energy question
And if he has set ambitious goals to cut deforestation to zero and review emissions targets in line with the Paris Agreement, Lula has also acknowledged oil will be necessary for some time and would oversea an increase in oil and gas production, Climate Home News reports.
Brazil has a relatively clean domestic energy supply, with nearly half of its power coming from renewable sources. But it is also a major oil producer, with its crude oil exports providing a key income source along with soaring commodities demand during Lula’s previous terms.
Rittl said there was potential for an even greater shift toward renewable energy domestically.
Beyond that, he continued: “We need to see finance for agriculture that is linked to emissions reduction, protecting the environment, controlling fertiliser use and managing cattle. Brazil needs mandatory emissions reductions standards and an updated plan to fulfil them.”
“It needs economic policies that are aligned with climate policies to make sure that infrastructure, agriculture and industry are all drivers for change in Brazil,” Rittl added.
Enel North America and food and snacks giant Mars have signed a massive clean energy deal that will power up Mars’s operations with Texas solar.
The two companies completed a power purchase agreement (PPA) for the full output – all 851 megawatts (MW) – of three Texas solar farms. Together, those plants are expected to deliver 1.8 terawatt-hours of electricity annually, the equivalent of enough electricity to power 150,000 homes. That makes this Enel’s largest corporate PPA worldwide.
Michele Di Murro, CEO of Enel North America, said the deal “shows how renewables are among the fastest and most affordable solutions to meet the nation’s energy needs. Through these agreements, we’re adding clean capacity to the Texas grid while supporting a leading manufacturer’s sustainability goals.”
For Mars, the move goes beyond just greening its own factories. Kevin Rabinovitch, global VP of sustainability at Mars, explained that this PPA “lets us bring demand for all the electricity used in our value chain to the clean energy market in a highly efficient manner. The more demand we create together, the faster we can build the future we all want.”
All three solar farms will use sheep grazing to manage vegetation, a dual-use practice Enel has scaled through the largest solar grazing agreement in the US.
The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
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Lease deals get all the headlines, but 75% of new car buyers still finance their cars, indicating that they want to own their vehicles once the payments are done. If that sounds like you, and you’ve been holding out for relief from sky-high payments, a wave of new EVs are now available with 0% financing — making it one of the best months yet to buy a new EV.
Every month, Electrek readers looking for great deals on a new EV flock to our lease deal posts. Recently, however, the comments have been asking another crucial question: what about EV deals for the people who want to buy, instead of leas?
You asked, we listened. This roundup is for that 75% of new car buyers who choose to finance their cars instead of lease — so here’s a list of all the 0% financing deals on EVs you can get in September, 2025.
As I put this list together, I realized there were plenty of ways for me to present this information. In the end, I decided to present these deals in alphabetical order, by brand name (make). And, as for which deals are new this month? You’re just gonna have to check the list. Enjoy!
Acura ZDX
New for the 2024 model year, the Acura ZDX uses GM Ultium battery and drive technology, but the styling, interior, and infotainment are all Honda, delivering GM-level parts support with Honda-level fit, finish, and quality. Add in standard Apple CarPlay support, 0% financing for up to 72 months, and $7,500 customer cash through September 30th, and the ZDX becomes easily one of the best sporty crossover values on the market.
Chevy Equinox EV
With an impressive combination of affordability, practicality, and advanced features, the Chevy Equinox is a standout EV. And with an EPA-estimated range of up to 319 miles and a starting price under $35,000, it’s no wonder they’re flying off dealer lots.
For well-qualified buyers, Chevrolet is offering 0% APR financing for up to 60 months through GM Financial through September 30th. That offer can be paired with the $7,500 federal EV tax credit (which you can claim at the dealer), along with up to $1,250 in additional discounts for Costco members, depending on membership level.
Dodge Charger
Dodge is hoping that at least a few muscle car enthusiasts with some extra cash will find their way to a Dodge store and ask for the meanest, loudest, tire-shreddingest muscle car on the dealer’s lot without caring too much about what’s under the hood.
For them, Dodge has the new electric Charger with up to 670 battery-backed horsepower. And if you still owed money on the Hemi you just totaled, Dodge will help get the deal done on its latest retro-tastic ride with a $7,750 retail cash allowance or 0% financing for up to 72 months — and that’s before any dealer discounts.
Ford F-150 Lightning
America’s best-selling electric truck offers V2x technology, a nationwide dealer network, a universe of aftermarket accessories, and a look that blends into the crowd. This month, this proven pickup adds 0% interest financing for up to 72 months. Ford Pro customer can get access to advanced telematics and, in some cases, even get help sourcing additional grants and rebates, too.
GMC Hummer EV
The biggest of GM’s Ultium-based EVs are seriously impressive machines, with shockingly quick acceleration, plus on-road handling that seems to defy the laws of physics once you understand that these are, essentially, medium-duty trucks. This month, GMC is doing its best to move out its existing inventory with 0% financing for well-qualified buyers plus $1,250 in discounts for select Costco members. So, if you’re a fan of heavy metal you’ll definitely want to stop by your local GMC dealer and give the Hummer EV a test drive.
GMC Sierra EV
In addition to offering a solid Powerwall alternative, these big Ultium-based EVs from GM’s “three letter bandit” commercial brand are just as impressive as their Hummer stablemates, but one-up the Hummers with heavy-duty towing prowess and the added capability of bidirectional charging baked in. And, like the Hummer, GMC is doing its best to move out its existing inventory of Denali and AT4 model Sierra EVs with 0% financing for well-qualified buyers plus $1,250 in discounts for select Costco members.
Honda Prologue
Like the Acura ZDX at the top of this list, the Honda Prologue was blends the excellent GM Ultium EV platform with Honda sensibilities and Apple CarPlay to create a winning combination. It’s no surprise that it’s one of the top-selling electric crossovers — and to move out as many as possible before the $7,500 federal tax credit goes away, Honda is offering 0% APR for up to 60 plus up to an additional $2,000 in Honda Loyalty or Conquest cash.
Hyundai IONIQ 6
The last of the streamliners, the IONIQ 6 has influences from Ferry Porsche and Raymond Loewy without looking like a copy of either. In addition to being a future classic, it’s efficient, comfortable, quick, offers up to 361 miles of range, can charge just about anywhere, and (now through the end of the month), can be financed with 0% interest for up to 48 months or $7,500 in customer bonus cash on all trims.
If you’re flexible on color, Hyundai dealers with “aged inventory” will give you an extra $1,000, for $8,500 total incentive dollars on your IONIQ 6.
Jeep Wagoneer S
The Jeep Wagoneer S is a slick, capable, street-oriented EV that’s been inexplicably saddled with a sloping roof and spoiler that eats away at the electric SUV’s ultimate utility (that’s the “U” part), but if you can get past that minor caveat, this first-ever battery-powered Jeep is ready to deliver. With $7,750 retail cash allowance or 0% financing for up to 72 months before dealer discounts through September 30th, the Wagoneer S might just be the best EV deal going.
Kia Niro EV
Kia is doing a phenomenal job moving its supercar-baiting EV6 and ultra-capable EV9 family trucksters, but the under-mentioned and underrated little Niro EV seems like it could use a little help. To that end, Kia is offering 0% interest financing or up to $7,500 customer cash on select examples of the little urban runabout now through September 30th.
Nissan Ariya
I’ve already said that the Nissan Ariya didn’t get a fair shake. If you click that link, you’ll read about a car that offers solid driving dynamics, innovative interior design, and all the practicality that makes five-passenger crossovers the must-haves they’ve become for most families. With up to 289 miles of EPA-rated range, Tesla Supercharger access, and 0% interest from Nissan for up to 72 months or up to $10,000 Customer Cash (that’s not a typo) undecided EV buyers could do a lot worse than to give the Ariya a chance to win them over.
Polestar 3
Sleek, Scandinavian, and seriously quick, the Polestar 3 is the lovechild of Swedish brand Volvo and Chinese brand Geely’s billions. As such, it delivers both Scandinavian style and high-tech substance with dual-motor power, a minimalistic, luxurious cabin, and Android Auto baked right in. The Polestar 3 was designed to turn heads while keeping daily driving effortless, and through the month of September, it’s sure to turn even more heads with 0% financing for up to 72 months through Polestar Financial Services and a $10,000 Clean Vehicle Incentive in some markets.
Put it all together, and the Polestar 3 stands out as one of the most compelling premium EV SUV deals of the month.
Subaru Solterra
The first-ever electric Subaru had a rocky start (no pun intended), but this off-road-ready sibling of the Toyota bZ4X seems like a solid mid-size electric crossover with some outdoorsy vibes and left-leaning granola style that offers more than enough utility to carry your mountain bikes to the trail or your inflatables out to the pond. Add in 227 miles of range, some big discounts, and 0% financing for up to 72 months, and this should be a great month for electric Subaru fans to drive home in a new Solterra.
Volkswagen ID.4
One of the most popular legacy EVs both in the US and Europe, the ID.4 offers Volkswagen build quality and zippy around-town handling. Everyone I know who has one loves it, and VW dealers are getting aggressive with discounts, making this fast-charging, 291 mile EPA-rated range, 5-star safety rated EV a value proposition that’s tough to beat.
This month, get a Volkswagen ID.4 with 0% financing for up to 72 months or up to $5,000 customer cash. You’ll need to do some math to see which offer works best for you.
Disclaimer: the vehicle models and financing deals above were sourced from CarsDirect, CarEdge, and (where mentioned) the OEM websites – and were current as of 15SEP2025. These deals may not be available in every market, with every discount, or for every buyer (the standard lines of “with approved credit” fine print should be considered implied). Check with your local dealer(s) for more information.
If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
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EV charging networks SWTCH Energy and FLO have signed a roaming agreement that lets drivers charge on either network with just one app, removing the need to juggle multiple accounts or payment methods.
One of the biggest frustrations for EV owners is charging network fragmentation. Using multiple apps and memberships makes it clunky and time-consuming for drivers to plug in, especially on road trips. This new agreement gives drivers access to tens of thousands of chargers on SWTCH and FLO’s networks.
If you’re using the SWTCH or FLO app, you can now see and use chargers from both networks. Your existing payment method works across the board, and expanded charger visibility makes trip planning easier. That should mean a smoother, more consistent experience.
SWTCH CEO Carter Li said, “SWTCH users now have access to more than 70,000 chargers across North America. We’re creating the seamless, integrated charging ecosystem that drivers deserve.” FLO CEO Louis Tremblay added that FLO’s roaming agreements already give its members access to more than 110,000 public chargers, and teaming up with SWTCH further strengthens that coverage.
Both companies already have roaming deals with other charging networks in Canada and the US.
Read more: FLO’s new Ultra DC fast chargers can charge EVs to 80% in 15 minutes
The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
FTC: We use income earning auto affiliate links. More.
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