Last Thursday, December 21, 2023, the Chamber of Deputies approved bill 2,148/2015, which absorbed most of PL 412/2022, whose text proposes the regulation of the Brazilian Emissions Trading System (SBCE ) and defines the basis for the creation of the regulated carbon market in Brazil. The project now goes for analysis in the Senate and then returns to the Chamber for a final vote, in case of changes.
The regulated carbon market is a topic that has been worked on since 2016 by CEBDS (Brazilian Business Council for Sustainable Development), an entity that represents more than 110 companies operating in Brazil – whose combined revenue is equivalent to around 50% of the national GDP. Over the years, we have acted on behalf of the Brazilian business sector, together with the Executive and Legislative Powers, to build a robust and integral emissions trading system, which promotes the country's economic and social development based on low-cost initiatives. carbon.
The creation of a regulated carbon market is even more important at a time when the country has the opportunity to lead the new global economy, generating jobs and income based on green initiatives.
Thus, CEBDS understands that the project approved by the Chamber of Deputies represents a historic milestone and an important advance for the country. Among its positive points, we highlight the maintenance of the structure and improvement of the SBCE, as well as the emissions limits approved by the Senate, and the improvement of governance.
Among the critical points, which could be the subject of improvement in the Senate process, we highlight the lack of clarity in the rules of intersection between the regulated and voluntary markets; the review of articles related to the mechanism for reducing emissions resulting from deforestation and forest degradation (REDD+), which can divert focus and generate insecurity among market actors; in addition to the loosening of restrictions on carbon credits in relation to the version that was previously processed in the Senate.
CEBDS and the Brazilian business sector remain at the disposal of Congress to promote the advancement of increasingly sustainable businesses, which stimulate Brazil's development based on the green economy.
