Brazil Govt Finalises Proposal for Cap-And-Trade Carbon Market

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  • 24 Aug 2023
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Brazil Govt Finalises Proposal for Cap-And-Trade Carbon Market

The Brazilian government has finalised a proposal to establish a cap-and-trade carbon market to tackle greenhouse gas emissions and meet emissions reduction targets. The bill is set to be presented to Congress soon. The carbon market is seen as a suitable financial instrument to support Brazil's ecological goals by financing environmental policies. If approved, it could take about three years to become operational. It could also drive reforestation efforts and increase the value of carbon credits.

Source: carbonherald