Friday, October 18, 2024.
Yesterday we comment on the panel “Climate change mitigation and Nature-Based Solutions: what does science say?” which passed off on the primary day of the Brazilian Local weather and Carbon Convention 2024 #CBCC organized by Aliança Brasil Nature-based Options in São Paulo, Brazil.
With out forgetting the spoiler alert yesterday, concerning the announcement on the finish of the occasion that will likely be highlighted on the finish of this text, right now we’ll touch upon the panel “Corresponding adjustments within Article 6 of the Paris Agreement: a look at Brazil”, moderated by Pedro Venzon, Worldwide Coverage Advisor at IETA.
Marcelo Theoto Rocha, marketing consultant on local weather governance and carbon markets commented on the progress of discussions round Article 6, earlier than COP-29. In brief, “article 6.2 is going well, article 6.4, the issue relating to documentation may still cause noise in Baku”. Ultimately, he warned concerning the improve in decarbonization prices over time for Brazilian firms.
As director of ACX Brasil, and at all times pragmatic on behalf of the non-public sector, Carlos Martins introduced numbers and views concerning reasonableness: ITMO export volumes (Internationally Transferred Mitigation Consequence) by Brazil, emissions from the cerrado, capital move, problems with management and pursuits between international locations and a degree concerning the “sovereignty” of the problem additionality.
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CDM, regulated by the United Nations, was already the thirteenth. merchandise within the steadiness of Brazilian exports, having been the third nation to launch it, after China and India
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As we speak the topic of carbon credit is extra “spread” between international locations, with the necessity for laws and the internalization of authorized constructions
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Between 2004 and 2024, emissions coated by the European Union regulated market ranged from 9% to 25%
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Article 6 of the Paris Settlement is essential, as is the evolution of articles 6.2 and 6.4. “And don’t forget Article 6.8” highlighted Ludovino, referring to the truth that international locations can finance non-market approaches as an alternative of negotiating credit.
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Brazil: because it ratified the Paris Settlement, not being prepared for Article 6 would imply the danger of public civil actions
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About NDCs, Nationally Decided Contributionshighlighted the truth that the Brazilian is economy-widethat’s, you will need to know which sectors will likely be conditional and which is not going to. This may mirror the division between regulated and voluntary markets.
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Within the case of the voluntary market, you will need to regulate carbon credit as asset movable
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It seems as civil asset within the Invoice within the Nationwide Congress, which based on Ludovino “could be problematic”, together with contemplating Regulation 14,119/21, which regulates fee for environmental providers.
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In different phrases, Brazil wants to fret concerning the interoperability of all this: funds for environmental providers, voluntary carbon credit and controlled credit.
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And outline the trail in direction of ITMOs and NDCs, because the competitors for this new asset, carbon credit, “is no longer between projects and companies and is becoming between countries”.
In response to Ludovino, a incredible skilled with whom we have been capable of discuss extra after the occasion, for Brazil the “road will be very difficult but possible. Including the issue of conditional sectors”. And all this in a scenario that’s within the “eye of the storm”: CBAM, CORSIA, deforestation legal guidelines, NDCs and Article 6.
As information concerning the beginnings of the CDM in Brazil have been talked about, it’s price re-reading these articles classic:
We additionally briefly spotlight the panel “The role of carbon credits in transforming territories”, whose testimonies by Almir Narayamoga Suruí – indigenous chief of the Paiter Suruí individuals – and Maria Adão – from the Affiliation of Residents of the Remanent Neighborhood of Quilombo de Cachoeira Porteira – have been exceptional, each concerning the historic – and land – battles and for the optimism and perspective of a greater and sustainable future that carbon credit have come to characterize for these social teams within the Amazon area.
And earlier than closing the occasion, Janaina Dallan introduced yet one more information (the opening one is within the yesterday’s post!):
Aliança Brasil NBC and APEX Brasil will begin working collectively on the worldwide promotion of Brazilian carbon credit. APEX Brasil, the Brazilian Export and Funding Promotion Company, is the commerce promotion group and funding promotion company for numerous sectors of the Brazilian economic system.
