On National Climate Change Awareness Day (March 16), IREE ECO (Institute for the Reform of Relationships between State and Company) held an online meeting with experts who discussed the urgency of the regulation of the carbon credit market in the country. The scenario is nebulous: in November 2021, the Chamber of Deputies approved an emergency regime for Bill 528/21, which establishes the Brazilian Market for the Reduction of Emissions (MBRE). The subject matter, however, has not yet been voted on. Jorge Viana, the president of IREE ECO, said that the delay in the regulation makes compliance with the climate goals of Brazil very difficult.

Ana Toni, executive director of iCS and who participated in the event, also criticized the non-approval of the Bill by a decision of the federal government, because, without regulation, Brazil is hindered in the international dialogue and misses a window of opportunity. “We have an NDC (Nationally Determined Contribution) to be complied with and the carbon market should be an instrument to help Brazil achieve its goals. I am hearing very little discussion about how to link this market with our goals,” she said.

href=”https://www.youtube.com/watch?v=iv59VfGB1ZI”> Watch the event in full here.