Thursday, 31 October 2024.
Yesterday we introduced the topic of the BRICS Carbon Markets, after the XVI BRICS Summit in Kazan October 22-24.
A few days earlier, at the BRICS Business Forum held in Moscow on October 17-18, the Russian registry announced its 1st international transaction of carbon units. It involved Equity International, a buyer from the United Arab Emirates (UAE).
The trade involved 1,351,054 carbon units from RUSAL, one of the world’s largest aluminum producers. The carbon units were issued on purpose of a climate project aimed at protecting forests in the Krasnoyarsk region from wildfires.
Here you have more details, October 18 press release from the company.
According to the Director of Sustainable Development at RUSAL, “commitment to carbon neutrality is a global economic trend. Within BRICS, countries can combine their efforts towards building a low-carbon economy …”
Another source - Snow Leopard Financial Group from India - quotes the Chairman of the Board of UAE’s Equity International, who said that “this platform could be located in Dubai and serve as a prototype Carbon Facility to be open for all of the potential Carbon Market participants from BRICS countries.”
About the Kazan Declaration mentioned yesterday, you can read it in English directly at the portal of the Department of International Relations & Cooperation from South Africa or in Portuguese at the portal of the Ministério das Relações Exteriores from Brazil.
Note that its last paragraph indicates that the next BRICS Summit will be in Brazil in 2025, same year and country of COP-30 Belém, Amazon region.
