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Brazil's New Carbon Market System

Brazil's Senate approves a bill creating a carbon market system (SBCE) to regulate greenhouse gas emissions, with voluntary participation for the agricultural sector and penalties for exceeding emission limits.

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Germany

Germany Climate ChangeEnergy SecuritySustainable DevelopmentEnvironmental RegulationsEmissions TradingCarbon Market

Brazilian SenateCop 29National Climate Change Fund

Jaime MartinesLeila BarrosLuiz Inácio Lula Da Silva

What is the main purpose of the SBCE bill?: The Brazilian Senate approved a bill establishing a carbon market system (SBCE) to regulate greenhouse gas emissions. This system will allow the buying and selling of carbon credits, with limits set on emissions and penalties for exceeding those limits.
How will companies and governments earn carbon credits?: Companies and governments reducing emissions below set limits can earn and trade carbon credits. These credits represent avoided or captured emissions, and can be used to compensate for exceeding emission limits.
What types of assets will be traded in the carbon market?: Two types of assets will be traded: the Brazilian Emission Quota (CBE) and the Verified Emission Reduction or Removal Certificate (CRVE). CBEs are permits to emit, while CRVEs represent emissions reductions.
What is the role of the agricultural sector in this system?: The agricultural sector's participation in the SBCE will be voluntary, unlike other sectors. Companies exceeding emission limits face significant fines, while the agricultural sector is exempt from mandatory participation.
What are the overall goals and intended uses of the revenue generated by the SBCE?: The SBCE aims to help Brazil meet its Paris Agreement goals and stimulate sustainable development. Revenue generated will prioritize the National Climate Change Fund, system maintenance, and compensation for indigenous and traditional communities.

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