THE Confederation of Agriculture and Livestock of Brazil (CNA)) assessed that Decree 11,075/22, which creates the mechanisms for the creation of the Brazilian carbon market, is an “important step towards the realization of this segment”.
The text with the guidelines for the regulation of this market was published this Friday in the Official Gazette of the Union (DOU).
In a note, the president of the National Commission of Environment of the entity and the Federation of Agriculture and Livestock of the State of Amazonas (Faea), Muni Lourenço, said that the Brazil has a large forest and environmental asset and needs to generate revenue from the carbon credits.
The CNA claims to have contributed to the drafting of the text of the decree. According to CNA’s Sustainability coordinator, Nelson Ananias Filho, the text sought a better term for the Brazilian carbon market that would bring benefits to agriculture and fulfill the role of encouraging production that is less and less emitting. “Brazilian agricultural activity has great potential to access the carbon market as long as the rules are compatible with the sector.”
According to Filho, the document will regulate two main actions, which are the sectoral agreements, responsible for the actions of each sector so that the Country reaches the Nationally Determined Contribution (NDC), which is Brazil’s commitment at the United Nations Conference on Climate Change (COP). “Each sector of the economy will have the opportunity to work and propose actions to the extent that it is economically viable to create a domestic carbon market demand,” he said in the note.
Another action is the creation of the national emission reduction system, a platform where carbon credits can be registered, certified and traded. “We managed to get the agricultural sector to be understood as a sector that has peculiarities and great potential within the carbon market. With that, we understand that the decree was important to start this market, which still needs to be studied a lot, but which in principle is positive for the sector.”
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Source: Moneytimes
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