Last Friday - only on LinkedIn - we propagated relevant subject and we do it again, elaborating now on the website www.carboncreditmarkets.com . If you've already read it, proceed to the items below.
It is about a public consultation until August 7th by the Brazilian Initiative for the Voluntary Carbon Market (VCM BR) in support of the development of a high integrity market in the country.
The consultation is of special interest to law firms and "aims to collect opinions and feedback on the accreditation process" to compose the National Repository of Projects of VCM BR. For now, it's not about registering participants.
It is worth mentioning that the public hearing is led by Amaggi, B3, Bayer, BNDES, Dow, Equinor, Itau, Natura, Rabobank, Vale, Systemica and McKinsey. More about VCM BR, remember here the post from June 2023 "Credibility and Transparency: Verra joins the Advisory Board of the Brazilian Initiative".
According to the proposal, legal offices will:
be contracted by buyers and developers of carbon projects
have access to documentation, identifying potential risks and emphasizing integrity
conduct due diligence on specific topics and aspects of the jurisdiction. It is not a certification
follow minimum requirements and may be invited by VCM BR
About the minimum requirements:
ranked in one or more categories - ESG, Environmental, Real Estate, Agrobusiness - by Chambers Brazil
min. 5 diligences carried out on carbon-related projects in the last 3 years
min. 10 years of existence or 10 years of experience by the partners
endorsement by 3 buyers and 3 developers
Any thoughts on the accreditation process?
Click at the image below for more details and here for a 16-page and downloadable reference - in Portuguese 🇵🇹🇧🇷 or English 🇬🇧 🇺🇸 - where you will find a QR code for feedback.
Regarding the legal perspective of carbon credits, remember our post "Legal nature of carbon credits: what are you trading?"
