The markets could continue to boom, Mariscal said, if Bolsonaro keeps his promise to allow Guedes, who is expected to be named economy minister, the autonomy needed to carry out his plans.
On Wednesday, the former army captain said on Twitter that Marcos Pontes, a Brazilian astronaut who was the country's first person in space, would be his minister for science and technology. "To increase deforestation and greenhouse gas emissions is to leave each and everyone of us more vulnerable to an increasing risk of climate extremes".
Bolsonaro appeared in public Tuesday for the first time as president-elect. Brazil agreed to reduce greenhouse gas emissions by 37 percent below 2005 levels by 2025. Pension payments are growing economic problems for Brazil that take up 8% of the nation's gross domestic product (GDP).
Brazilian voters hung their hopes on a populist savior in closely-watched weekend elections, sweeping firebrand personality Jair Bolsonaro into the presidential office in a move that has human rights activists and those fearful of a return to authoritarianism on edge.
The Paris deal aims to limit temperature rises to "well below" two degrees Celsius above pre-industrial levels.
In the run-up to the election, Bolsonaro, whose first foreign visits would be to Chile, Israel and the U.S. - that according to him "share our worldview" - has said: "The future ministry will come from the productive sector".
"So even if he still wants to withdraw, it will not be simple or easy", Schwartzmann told AFP.
In a 2013 interview with British television personality Stephen Fry, Bolsonaro said that "Brazilian society doesn't like homosexuals" and claimed that gays were brainwashing heterosexual children to "become gays and lesbians to satisfy them sexually in the future". "Several NGO activists in different fields are getting threats..."
"These elections revealed the worst in humanity".
For worldwide investors looking to make up losses suffered in the ongoing selloff that has seen the Dow Jones Industrial Average and the S&P 500 Index slip into negative territory on the year, Brazil could be a tempting option.
Investors were quick to cheer Bolsonaro's victory, sending Brazil's benchmark Bovespa stock index to an all-time high in early trading before turning negative as traders booked profits following a sharp rally this month.
If actions remain to be seen, "certainly on the rhetoric Brazil will be much more willing to sign on to statements and otherwise with the US", Velasco said. "It's an effective way of bypassing the need to make new laws by weakening protections for the environment and indigenous land that already exist", said Munoz.