Subject from a few days ago, which you may have already seen. For its importance, Carbon Credit Markets will delve a little deeper. With video cuts to watch over the weekend.
On June 20th, at the event "Dialogue: The Regulated Carbon Market and Industrial Competitiveness" the National Confederation of Industry (CNI) presented a proposal for the implementation of a regulated carbon emissions trading system in Brazil. The following sectors participated: cement, steel, aluminum, pulp & paper, chemicals, glass, oil, gas and electricity.
“... a carbon market that communicates with the international environment ... with more mature and established markets in the international context ... so that we can have the clear rules and legal certainty necessary to make this market work” indicated Davi Bomtempo from CNI.
The basis of the proposal was the bilingual study "Carbon Market: Analysis of International Experiences" published by CNI in 2021, which compared the governance structure (image below) of the initiatives of the European Union (EU-ETS), Japan, South Korea, Mexico, California and Canada (Western Climate Initiative). A great collection.
As the video of the event is long, we have selected for our readers some "cuts" going directly to presentations of interest (followed by panels):
"World Bank: State & Trends of Carbon Pricing 2023" by Joe Pryor (runs 18 min, in English with Portuguese translation)
"Industry Proposal for the Regulated Carbon Market in Brazil" by Davi Bomtempo (lasts 8 min)
In the proposal, in addition to a "cap & trade" carbon market, other subjects mentioned include energy transition, efficiency, renewables, biofuels, new technologies, hydrogen, CCS, circular economy, ISO standard, sustainable public procurement, forest conservation and bioeconomy in Brazil. In addition to the importance of a robust and efficient governance structure.
According to the 2021 study, all five programs studied have one or more private entities in their governance structure, the most frequent function being MRV, an acronym for Measurement/Monitoring, Reporting and Verification.
Click on the image below to download this excellent 2021 study.
It is also worth browsing the Sustainable Industry portal.
