Brazil’s Emissions Market Is Open for Business

Brazil’s Ministry of Development, Industry, and Foreign Trade (MDIC) and the Commodities and Futures Exchange (BM&F) launched the Brazilian Emissions Market (MBRE)

The accord, the first to be implanted in a developing country, will serve to negotiate carbon credits (rights to emit pollutant gases) that can arise from projects to reduce the emission of greenhouse gases.

The intention is to establish a transparent price-formation process that will both stimulate the development of projects that lead to reductions and inject competitiveness in the market.

The operations are expected to get underway at the end of the first half of 2005. The program was launched officially by Minister Luiz Fernando Furlan.

In the initial months, a bank of Projects to Reduce Greenhouse Gas Emissions will be developed, and a specific system to operationalize the carbon credits market will be implemented, as well as a program to provide preliminary training to multipliers on MBRE operations.

"The program on which we are focusing has enormous economic, social, and political significance for Brazil. We shall thus be making an important contribution to the planetary effort on behalf of the fight against global warming, and at the same time we shall be stimulating the appearance in Brazil of projects in the area of clean development mechanisms," observed the president of the BM&F, Manoel Cintra.

The acquisition of carbon credits is an option for the developed countries that signed the Kyoto Protocol, created in 1997, in which targets for the reduction of pollutant gas emissions were set.

These countries pledged to reduce their emissions by 5% from the levels in 1990. If they are unable to meet this target, they can purchase carbon credits from developing countries that employ the Clean Development Mechanism (CDM).

The CDM is an instrument also included in the Protocol, allowing industrial countries to discount from their targets the greenhouse gas reductions acquired from developing countries.

Agência Brasil
Translator: David Silberstein

Tags:

You May Also Like

Brazilian Activists Call Draft to Be Issued at Rio+ 20 Weak and Vague

Held once again in the south of Brazil, this year’s World Social Forum is ...

Europeans, Asians and Latin American in Brazil for Accessories Fair

Brazilian trend for the 2009 winter for costume jewelry, handbags and shoes will be ...

Milplast, in São Bernardo do Campo, São Paulo, Brazil

Brazil Gets 24% More on Its Share of Foreign Direct Investment

The volume of private funds destined to developing countries in the form of direct ...

These Kid Rapists Shocked Brazil and Got Stiff Jail Sentences. Guess What

In August 2003, six City Council members and six businessmen were arrested and later ...

Typical Brazilian Sex Slaves Taken Overseas Are Girls 18 to 21 Years Old

According to the United Nations Office on Drugs and Crimes (UNODC), young women, between ...

Brazil: Halloween Holiday Spooks Sí£o Paulo Candidate

Hackers have been at work, changing sections of the City Hall website in São ...

Another Brazilian Dies from Yellow Fever and Foreigners Are Told to Get Vaccine

Foreign travelers to Brazil who intend to visit rural and forested areas are being ...

Brazil Makes Goat Leather Chic

In a small district in the interior of the state of Paraí­ba, land castigated ...

Brazilian Police Sweep 13 States in Search of Software Pirates

About 350 Brazilian federal agents swung into action today in a multi-state operation to ...

Brazil Tries to Put a Good Face on Bad GDP Numbers

Brazil’s minister of Finance, Guido Mantega, called the latest numbers from the government statistical ...

WordPress database error: [Table './brazzil3_live/wp_wfHits' is marked as crashed and last (automatic?) repair failed]
SHOW FULL COLUMNS FROM `wp_wfHits`