Brasília, July 5, 2023 - The Attorney General's Office (AGU) has taken another important step towards regulating the Carbon Market in Brazil. On July 5th, the AGU submitted a new wording to the Ministry of Finance for the proposal aimed at controlling greenhouse gas emissions.
Under the coordination of the National Climate and Environment Defense Prosecution, as well as the legal consultations of ministries and the Attorney General's Office for National Treasury, suggestions for improvements to the text were made with the aim of bringing more legal certainty to the project. One of the main suggestions is to align the creation of the Brazilian Emissions Trading System (SBCE) with the international emission reduction commitments assumed by Brazil.
The proposal presented by the AGU will now be presented to civil society entities and the private sector by the Ministry of Finance. After this stage, the discussion on the proposal will be brought to the National Congress.
In the regulated market, companies have a limit on greenhouse gas emissions. Those that emit less than the limit set for the industrial sector are awarded credits that can be sold to companies that exceed the emission limit.
It is essential to stay tuned for the next steps in the regulation of the Carbon Market in Brazil. Stay updated on the latest news and updates through Amazon Connection Carbon, and stay informed about the measures being taken to address climate change and ensure a sustainable future for the country.
Source: AGU
Credits: Juliana Niederauer
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