Brazil: Carbon Credit Market and Plan Against Deforestation in the Amazon

Created in 2004 with the objective of continuously reducing deforestation in the Amazon region until 2030, the Brazilian Ministry of Environment and Climate Change launched yesterday, June 5, the new targets for the Action Plan for the Prevention and Control of Deforestation in Legal Amazon (PPCDAm).

Here are some highlights of the new version of PPCDAm:

• sustainable exploitation of public forests

• incentives for forest restoration, the bioeconomy, low-carbon agriculture and the establishment of green infrastructure

• traceability systems for agricultural and mineral products

• creation of the “Amazon Brand”, “Amazon Seal” and “Green Seal”

• monitoring of deforestation via satellites of the Prodes system of the National Institute for Space Research

• Rural Environmental Registry (CAR), titling of traditional territories and creation of conservation units

• Amazon Fund and Bolsa Verde

• regulation of the carbon market and commodity chains

• Technical, Economic and Environmental Feasibility study for large infrastructure projects in the region

• similar plans for the Pantanal and Cerrado biomes

Click on the image below for an article from CNN Brasil, including a link to the document. The Public Consultation on the PPCDAm ended in April.

To conclude, the future of the carbon credits market in Brazil, according to the Secretary of Economic Policy of the Ministry of Finance, Guilherme Mello at the event "Financing for the great push towards sustainability" on account of World Environment Day:

"We had a wide debate. A very robust proposal is being built, very well designed, to be constituted in Brazil ... also be able to take advantage of its potential as a country that, by reducing deforestation and preserving its biomes, has the possibility of being a creditor in the carbon credit market. And... together with the discussion of green taxonomy ... clarity that investors' resources are being allocated to truly sustainable actions, that there will be no ... greenwashing or ... diversion of purpose of the resources that are invested in Brazil for the ecological transition."

See here on YouTube the excerpt mentioned above.

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