Brazil, a key player in global sustainability, sees vast potential in the carbon market and biogas. With the 7th highest greenhouse gas emissions, the nation is exploring strategies to mitigate these emissions.
Advances in climate change due to massive emissions of greenhouse gases into the atmosphere have made society mobilize in favor of improvements. The conclusion is that decarbonization is urgent, especially for companies and sectors that pollute such as transport and industries.
The debate on climate change has stimulated several countries to seek measures to stop this advance and, in Brazil, it was no different. Therefore, the regulated carbon market was created in the country with the intention of developing initiatives to mitigate emissions.
The transformation currently experienced makes governments, society and companies adapt and change their way of consuming and producing to maintain the climate and environment. With this scenario, it is essential that companies in the energy sector also carry out investment planning for the energy transition.
In May 2022, Brazil took the first steps towards regulating the carbon market with the enactment of decree nº 11.075/2022. Despite leaving several gaps on this subject, the text laid the foundations for regulating the national carbon market, which has been expected for 13 years since the creation of the law that established the National Policy on Climate Change.
The carbon market emerged from the creation of the United Nations Convention on Climate Change (UNFCC), during ECO-92, in Rio de Janeiro. The creation of the market arose from the need to find ways to decarbonize economies, transforming good results into credits.
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The carbon market emerged in 1997, at COP 3, in Japan. It was with the Kyoto Protocol that the first rules for regulated markets and the permission to create voluntary markets were instituted. Since then, countries have joined the market and created their own initiatives.