One of the Brazilian government's recent decisions was to offer more guarantees to companies that choose to neutralize emissions through the purchase of forest credits from private carbon conservation projects in the Amazon.
Between measurements, in 28 November 2019 was published the Decree No. 10.144, which instituted new guidelines for the National Commission for the Reduction of Greenhouse Gas Emissions from Deforestation and Forest Degradation, Conservation of Forest Carbon Stocks, Sustainable Forest Management and Increased Forest Carbon Stocks – CONAREDD+, responsible for coordinating, follow up and monitor the implementation of the National Strategy for REDD+.
The new decree is of great importance for conservation projects, especially the private ones, since the Commission proposes the creation of an Executive Secretariat that will be responsible for keeping a record of reduced emissions and related fundraising in order to avoid double accounting.. This means that forest carbon credits generated in private REDD+ projects and delivered on the voluntary market to other private agents should not be counted towards Brazil's emission reduction targets under the Paris Agreement – a risk that some companies questioned at the time to decide which project to pursue.
The carbon market has been booming since 2018 due to demand from new companies and increased ambition of former buyers for solutions that offset carbon emissions and their effects on climate change.
Thus, this legal advance makes us more optimistic, as our REDD+ projects known for their positive environmental impacts, social and economic, also gain support from the Brazilian government.
WHAT IS REDD+
REDD+ is a mechanism that proposes a set of actions to combat deforestation through social activities, of climate and biodiversity that result in theReduction ofEmissions fromDslashing andDforest degradationadded (+) the conservation of forest carbon stocks, sustainable forest management and increasing forest carbon stocks.
BENEFITS OF NEUTRALIZING EMISSIONS
Companies that neutralize their emissions with REDD+ Projects do not only fight climate change directly, as well as preventing the deforestation of the Amazon Forest, preserve biodiversity and support local socioeconomic development.