Wednesday, 16 October 2024.
One day before the Brazilian Climate & Carbon Conference #cbcc, organized by Aliança Brasil Nature-based Solutions between October 15th and 16th, 2024 - yesterday and today - the important news portal BrazilJournal, created by Geraldo Samor - thank you ! - released yet another manifesto from 59 Brazilian businesspeople and executives, basically stating the following:
There is no more time to waste in approving the carbon market Bill (PL)!
As we have been reporting, the Carbon Bill, in its most recent “tentative version”, was approved by the Federal Senate in October 2023, having been followed by the Chamber of Deputies where it ended up undergoing significant changes in December of the same year. Among the reasons, numerous other PLs were added that were already under discussion in the House, with similar themes and reflecting numerous and different interest groups.
This process generated both “commotion”, as we reported in “Conjur article on the Brazilian carbon market: haste is the enemy of perfection.” and hope, “Brazil after Carnival: Carbon Market Bill and Fiagro with Carbon Credits.”
But more than 9 months later, unfortunately, the situation is the same since February 6, 2024, when the PL approved by the Chamber of Deputies was sent back to the Federal Senate, where it awaits dispatch since then. See for yourself.
Such situation generated this recent manifesto by important businesspeople and supporters, the main subject of this post.
Click here to read Giuliano Guandalini's article, “Empresários pedem urgência para o PL do Carbono, travado no Senado”directly on the BrazilJournal portal, including the two paragraphs of the manifesto itself “PELA APROVAÇÃO DO PL MERCADO DE CARBONO”.
It is worth adding that less than 2 months ago, another important manifesto had already been launched by the Brazilian private sector, entitled “POR UM PACTO ECONÔMICO COM A NATUREZA”, and due to the humanitarian catastrophe with the floods in Rio Grande do Sul, record fires in the Pantanal and with COP30 in Brazil approaching.
That manifesto called for the development of a coordinated and effective national decarbonization plan, and for alignment between the Three Powers of the Republic.
Click here to read this other article from BrazilJournal, “Em manifesto, empresários cobram mais coordenação na agenda verde”, with the August manifesto.
The current Brazilian political moment, in addition to the changes in the presidency of the Chamber and Senate whose terms run until the beginning of 2025, is one of redefinition at the level of more than 5.5 thousand municipalities, several of which still have their 2nd. round of elections to take place on October 27th.
Will the PL move forward after this?
As a reference, the European Union has been operating its regulated market, the European Union Emissions Trading System, for almost 25 years, having achieved significant decarbonization in the period.
Not to mention the voluntary carbon markets and all the impressive actions that the United States has been developing for their private sector. Remember here.
According to the latest version of the PL that creates the Brazilian Greenhouse Gas Emissions Trading System, companies that emit more than 10,000 tCO2e will need to monitor emissions, while above 25,000 tCO2e they will have to present reduction and compensation plans.
