Last Friday, July 28, the Brazilian Business Council for Sustainable Development (CEBDS) delivered a document to the federal government that summarizes its priority flags, including the creation of a regulated carbon market, in the cap-and-trade model.
CEBDS represents the network of the World Business Council for Sustainable Development (WBCSD) in Brazil and brings together the largest national and foreign business groups in the country.
"Brazil is at a unique and at the same time decisive moment in its history, with the chance to reinvent its economy and assume an unprecedented role on the global stage, based on the opportunities that the low-carbon economy can generate. The richness of our biomes makes us the country with the greatest biodiversity in the world, home to between 15% and 20% of known species of global fauna and flora. In addition, we have a clean energy matrix, with more than 45% of renewable sources. For these comparative advantages become competitive advantages, it is necessary to attract investments in the right direction."
According to CEBDS, Brazil has enormous potential considering Nature-Based Solutions (NbS), which represent approximately 20% of the global potential. The creation of a Brazilian Emissions Trading System also aims at fulfilling the climate commitments assumed by Brazil in the Paris Agreement.
Regarding the high integrity of carbon credits, CEBDS indicates that it would be extremely relevant for projects to respect socio-environmental safeguards, such as prior consultations, fair benefit sharing, assessment of socio-environmental impacts and transparency.
It even makes reference to a guide produced by the WBCSD, which recommends 8 steps for buying carbon credits, considering key elements for environmental and social guarantees: "A Buyer's Guide to Natural Climate Solutions Carbon Credits".
Click on the image below for the CEBDS press release and link to the 36-page document delivered to the Brazilian government. Executives from the following companies were present: Acciona, Ambev, Arcadis, Banco do Brasil, BNDES, BNP Paribas, Braskem, CBA, Ecolab, Eletrobras, Eneva, ERM, JBS, Neoenergia, Nutrien, Prumo Logística, Schneider Electric, Shell, Siemens, Siemens Energy, Unilever, Vibra Energia and Yara.
