Brazil Is Planning a Formal Carbon Market. Getting There Won’t Be Easy
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https://www.wsj.com/articles/brazil-is-planning-a-formal-carbon-market-getting-there-wont-be-easy-11661765403
A carbon-trading system, Sinare, was created by decree in May by President Jair Bolsonaro. The market, which so far exists only on paper, is facing skepticism and comes ahead of a presidential election in October
Brazil is setting up its own carbon-trading system, a move long urged by environmentalists and companies pursuing net-zero goals. But the nascent effort has been met with skepticism and concerns that political turbulence could sandbag a tool seen as essential to protecting the Amazon rainforest.
The new market, called the National System for Reducing Greenhouse-Gas Emissions—Sinare by its Portuguese acronym—was created by decree in May by President Jair Bolsonaro, a former Army captain often accused of undermining his own…
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Source: https://www.wsj.com/articles/brazil-is-planning-a-formal-carbon-market-getting-there-wont-be-easy-11661765403
