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34th week CCM 2026. Water coherence. Brazil integrates CORSIA, SAF and CBIO; the Panama Canal and El Niño; "hunger stones," drought in European rivers and England; pioneering companies
- Art Dam
- Aug 23
- 5 min read
Monday, 24 August 2026.
34th Week Carbon Credit Markets in 2026.
If you’d like, you can read the article while listening to any Carbon Credit Markets tracks.
Carbon credits in Brazil are gaining regulatory coherence by integrating SAF, CORSIA, and CBIO into a unified framework: the CS-SAF becomes the exclusive instrument for verifying sustainable aviation fuel usage - aligned with CORSIA - while the CBIO takes on a merely complementary role; concurrently, new rules for NBS credits strengthen the integrity of the Carbon Metrics System by mandating transparency in REDD+ registration and reinforcing CONAREDD+ governance.
Other highlights illustrate how extreme weather events continue to shape global risks: at the Panama Canal, the ACP is maintaining stable operations amidst El Niño by combining water conservation, draft adjustments, and increased transits to preserve efficiency and water security; meanwhile, in Europe, the re-emergence of "Hunger Stones" exposes the severity of current droughts, bringing together historical records, scientific research, and diplomatic analyses that underscore the continent's water vulnerability in the face of an increasingly unpredictable climate.
Briefs & Opportunities highlight three significant developments on the climate agenda: the UK Environment Agency has declared a drought across half of England following months of insufficient rainfall, underscoring the urgent need for water management; registration remains open for the SB COP Awards 2026, which recognize high-impact climate solutions from the business sector; and the Brazil Pavilion at COP31 is accepting proposals from parties interested in contributing to its programming in Antalya.
In addition to a list of relevant events.
Carbon Credits
SAF, CORSIA, and CBIO reshape the decarbonization pathway for Brazilian aviation.
Decree No. 13.094/2026 structures the ProBioQAV program by establishing the CS-SAF (Sustainable Aviation Fuel Sustainability Certificate) as the exclusive mechanism for verifying SAF usage; this allows the environmental attribute to be decoupled from the physical molecule and traded via a "Book & Claim" system, thereby enabling compliance with emission reduction targets between 2027 and 2037 without reliance on physical fuel logistics. The decree aligns the national program with CORSIA (Carbon Offsetting and Reduction Scheme for International Aviation) by restricting its scope to the "well-to-wake" stage to prevent double counting, while maintaining the CS-SAF as the domestic regulatory benchmark. It also defines the complementary role of the CBIO (Decarbonization Credit under RenovaBio - Brazil’s biofuel incentive policy based on decarbonization targets), permitting its use only as an auxiliary instrument within strict limits and prohibiting its generation during SAF production, thereby reinforcing that the mandate must be met primarily through certified SAF.
Strengthened rules for NBS carbon credits in Brazil
A document published by the Brazilian government establishes guidelines for the Carbon Metrics System (SMC), defining criteria for the quantification, certification, and registration of carbon credits from Nature-Based Solutions (NBS). The regulation mandates that REDD+ payments be recorded in the Info Hub Brasil and reported to the UNFCCC - preferably in the year the result was achieved - with exceptions subject to the cap available to each entity. For market-oriented REDD+ programs, registration may only utilize caps assigned from 2013 onwards. The resolution also requires contracts to explicitly state the conditions applicable to each registration, thereby reinforcing transparency and legal certainty. The text references CONAREDD+, - the National Commission for Reducing Emissions from Deforestation and Forest Degradation, Conservation of Forest Carbon Stocks, Sustainable Management of Forests, and Enhancement of Forest Carbon Stocks - which is part of the governance structure for actions related to this subject.
Others Highlights
Panama Canal reinforces measures against El Niño and adjusts operations for 2026
On May 18, 2026, the Panama Canal Authority (ACP) - the public entity responsible for managing the Canal - announced that it had been monitoring El Niño risks since late 2025. It maintained historically high water levels in Gatun Lake and implemented preventive water-saving measures - such as simultaneous lockages, the use of water-reuse basins, and the temporary suspension of hydroelectric power generation - thereby ensuring 38 daily transits with no restrictions projected through December 31, 2026. On July 1, 2026, the ACP issued an operational advisory announcing draft reductions for the Neopanamax locks, effective July 24 (14.94 m) and August 15 (14.78 m), as part of its water management strategy in response to hydrological conditions and the potential intensification of El Niño in the coming months. Subsequently, on July 22, 2026, the ACP reported an increase in transits and tonnage, highlighting that the Canal continues to build operational capacity to meet demand - even under projected El Niño conditions - while reinforcing its commitment to efficiency, water security, and sustainability. This water-related issue is worth monitoring.
As “Hunger Stones” reappear, Europe sees a resurgence of historic drought warnings.
Amid the return of the “Hunger Stones” - markers etched into European riverbeds that emerge only during periods of extreme drought - contemporary accounts underscore the gravity of the phenomenon. Analyses by Carbon Credit Markets describe how these inscriptions, some dating back centuries, are resurfacing today as signs of a water crisis. Meanwhile, the Czech research center Idecin documents the history and location of these stones, explaining their role as climate memorials. Even the U.S. Department of State has contextualized the warning from a diplomatic perspective, highlighting their value as ancestral messages of suffering and scarcity. Other resources include YouTube videos showing the stones emerging; analyses by the German magazine APuZ/BPB regarding heatwaves and water vulnerability; the University of Bern’s historical database, which compiles water marks and drought records spanning centuries; and research funded by the Carlsberg Foundation investigating historical climate patterns and their link to current extreme events. Together, these materials reveal that Europe is experiencing the physical and symbolic return of historic warnings - clear evidence of human vulnerability in the face of an increasingly unpredictable climate.
Briefs & Opportunities
“We are using water faster than nature can replenish it.” On July 29, 2026, the UK Environment Agency declared a drought in half of England, a warning that highlights the severity of the water shortage after months of insufficient rainfall. Here is the full statement to understand the extent of the environmental and social impact in that country.
Participate in the SB COP Awards 2026, organized by Sustainable Business COP, a UNFCCC Global Climate Action initiative under the Marrakech Partnership that mobilizes companies to accelerate climate implementation and recognizes innovative, scalable, and high-impact climate solutions. Applications are open until September 15, 2026.
Applications are now open for the Brazil Pavilion at COP31: submit your proposal by September 7 and help shape actions to strengthen the response to climate change and participate on the global debate in Antalya, Turkey, from November 9 to 20.
Events
August
🇧🇷 27 - 28, Brazilian Climate and Carbon Conference, Brazil NBS Alliance.
September
🇲🇽 2 - 3, México Carbon Forum. Aguascalientes, Mexico.
🇨🇭8, Taking Responsibility. Navigating the New Era of Ongoing Emissions. Gold Standard.
🇨🇳15, Carbon Market Conference. Open Coalition on Compliance Carbon Market, in Wuhan, China.
🇺🇸 22 - 23, North America Climate Summit (NACS) 2026, New York
🇮🇳 28, India Forum: Advancing International Carbon Markets for Climate Ambition, Sustainable Development and Shared Prosperity. Delhi, India.
October
🇦🇿🇺🇳 5 - 9, UNFCCC Climate Week 2, Baku, Azerbaijan.
🇫🇷 7 - 8, OECD Forum on Green Finance and Investment. In Paris or online.
📅 07 - 08, Congress SAE BRASIL 2026, Pavilhão da Bienal – Parque Ibirapuera, São Paulo, Brazil
🇦🇺 20 - 21, Australasian Emission Reduction Summit, Adelaide, Australia
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