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Carbon credits: the marketing of greenhouse gas reduction

It is known that with the increase of industries and modernization, greenhouse gas emissions (GEES) are getting bigger. These gases are known to be responsible for the increase in global warming and, thereby, aiming for sustainable development, in 1997, the Kyoto Protocol gave rise to the so-called "Carbon Credits".

After all, what are "carbon credits"?

One carbon credit unit is equivalent to not emitting one ton of carbon into the atmosphere. Thus, the greater the reduction in CO2 emissions, the greater the amount of carbon credits for commercialization. In this way, a company or country can buy this credit from another organization as a way to offset the pollutants emitted by those who are buying.

In general, carbon credits appear to be a good way to contribute to the preservation of the environment, in addition to helping many countries achieve global goals. On the other hand, there are those who believe that some institutions may understand credits as a license that allows them to continue polluting. That is, while making a good impact, generates debate about its efficiency.

Market regulation in Brazil

On Wednesday 16 June 2021, the Economic Development Commission, Industry, Commerce and Services of the Chamber of Deputies approved the Bill 528/21, instituting the Brazilian Emission Reduction Market (king of), regulating the purchase and sale of carbon credits in the country. The proposal replaces the original text by deputy Marcelo Ramos (PL-AM).

It is noteworthy that the MBRE is, also, a recommendation of the Kyoto Protocol and its creation is foreseen in the Law 12.187/09 establishing the National Climate Change Policy. In addition, to the author of the proposal, Brazil has "natural capacity" to develop this market. In conclusion, Ramos also claims that the regulation should guarantee the transparency of carbon credit trading in the country.

The Environment and Sustainable Development Committees; of Finance and Taxation; and Constitution and Justice and Citizenship will still analyze the project, which is currently being processed conclusively.

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