Today is Friday, November 17, 2023.
Brazilian Government wants regulated carbon market before COP-28, says rapporteur. This is the title of the article in Congresso em Foco from November 11th.
With just a few days to go before the start of COP-28 on the 30th in Dubai, strong emotions, it seems. In fact, Carbon Credit Markets will be there to bring news, especially for followers registered on our website.
A few days ago we spoke briefly with the rapporteur, Deputy Aliel Machado, from the state of Paraná. Remember "New Rapporteur of the Bill on the Carbon Market at AMCHAM Brazil Event".
And the interview to Lucas Neiva for the article at Congresso em Foco structures some points better. Let’s look at some things mentioned by the rapporteur:
- Not just because of the symbolism of COP-28, but "The government is in a hurry to approve the project because a regulated carbon market this year could come into force next year, including the tax issues involved, as it is a new tax rate";
- "...despite the approval in the Senate, there are still sensitive points that the leaders are bringing up.";
- "Over the last few years, what prevented the text from being approved was precisely the lack of consensus. There is no point in building something that does not have the votes to be approved...";
- "The big debate is on the issue of governance... what will be the managing body, since it is a new thing. A new specific body will have to be created for this. On the other hand, there is a consensus that it will follow the cap and trade system, which is already a parameter throughout the world.";
- About the possible managing body "... the Ministries of the Environment and Finance... the Civil House, the Ministry of Science and Technology or even the Ministry of Industry and Commerce. Vice-president Geraldo Alckmin himself has been very interested in the topic and participating ";
- "We also need to debate in what environment this purchase and sale of carbon credits will take place. It's another topic that we haven't set, and there are proposals, such as certifications at the Securities and Exchange Commission or assets on the Stock Exchange ...";
- About the voluntary market... "I understand that, precisely because it is a voluntary market, the fewer rules you put in place, the less bureaucracy, the better. It is already voluntary, it buys whoever wants, sells whoever wants and it is not suitable for the parameters of meeting the emission reduction target. Therefore, it only involves a good intention of whoever wants to make this negotiation.";
- And about the regulated market and the conclusion... "The regulated market is the side that imposes the limits. It is the side that imposes rules on reducing emissions. Therefore, the purchase of credits within the regulated market concerns compensation, to the number of actions we can take. But in the voluntary market, I see that the less the public sector creates rules that create complications, the better.";
About how to avoid fraud in the regulated system and about the agribusiness... well, we leave these topics for you to read directly in the interview (in Portuguese), by clicking on the image below.
