The approval of the bill that regulates the carbon market was celebrated by the Brazilian delegation participating in the 29th United Nations Conference on Climate Change (COP29), in Baku, Azerbaijan. The project, which will still be submitted to the Chamber of Deputies, creates rules for greenhouse gas emissions in the country.
For the Vice President of the Republic, Geraldo Alckmin, approval of the proposal is necessary, “This is a great stimulus for the private sector and for all countries. If you encourage production with a lower carbon footprint, with lower emissions, you will, on the one hand, reward, giving a carbon credit that can be sold on the regulated market, and you will burden those who are polluting more”, he stated.
The symbolic vote in the Senate that approved the proposal took place this Wednesday (13), on the same day that Brazil presented the new Nationally Determined Contribution (NDC), with the target for greenhouse gas emissions, to the United Nations Organizations. Alckmin highlighted that the project is one of the federal government’s priorities.
“It comes to the NDC, which we presented yesterday. An ambitious, bold NDC, a 67% reduction in carbon ton emissions. This means going from practically 2 billion tons of CO2 equivalent/year, to 850 million, an ambitious measure by Brazil. Let’s work for it to be fulfilled. This means 67% less CO2 and emissions compared to 2005, in a country growing at more than 3% per year”, he highlighted.
The proposal being processed in the National Congress regulates the purchase of environmental preservation credits to compensate for emissions of polluting gases, that is, conservation measures and recovery of native vegetation generate credits, while emissions will generate debts to be compensated. “The context couldn’t be better. We know that to meet the emission reduction target that Brazil presented, which is ambitious and committed to mission 1.5, we will need different financial and incentive instruments”, said the Minister of Environment and Climate Change, Marina Silva.
The Brazilian delegation, led by the vice-president, participated this Wednesday (14) in a meeting with the UN Secretary-General, António Guterres, and the international business sector to discuss strategies for reducing global emissions. According to the minister, Brazil has presented strong results at this COP, with the implementation of public policies aligned with climate ambition and commitment to people’s lives. “Our challenge of zero deforestation is closely associated with these innovative mechanisms that allow us to make the protection of forests, forest restoration, something that will make it possible to sequester more and more emissions and, at the same time, promote income and livelihood conditions. dignified life for those who protect forests.”, he says.
*The reporter traveled at the invitation of the Inter-American Institute for Cooperation on Agriculture (IICA).
