The carbon market can bring revenues of up to US$ 100 billion to Brazil, according to a study by ICC Brasil, an arm of the International Chamber of Commerce in the country. But for that to happen, public and private companies need to unite and adapt their technologies to enter this market, according to Gabriella Dorlhiac, executive director of ICC Brasil to CNN Brasil.
The data comes from a recent study carried out by ICC Brasil, which projected the carbon market in Brazil. For Dorlhiac, for Brazil to achieve this result, which she deems “very positive”, it is important to bet on a national market, following international standards.
“What do you need for the carbon market to become a reality in Brazil? Two very concrete things: one is that Brazil should establish a national carbon market, with clear governance, with a methodology accepted by the international market. The second: an education of the private sector on what carbon credit is and how companies can issue these credits, what changes would they have to make for them to be part of this new large market, which is expected to be created at COP26, with the approval of article 6, which creates the global carbon market”.
According to Dorlhiac, Brazilian companies demonstrate commitment to a green agenda and for them to be able to adopt what they intend, they need to join forces between sectors.
“Brazilian companies today do much more than what the law already requires. What is interesting to note is that to further drive the reduction of emissions, adoption of technologies and clean energy sources, you will need a much greater alignment of the private sector with public policies that encourage these adaptations that the private sector will have what to do”, he stated.
For the executive, the tax reform can help in this process.
“An important fact: the tax reform can be a great incentive for companies to start adopting greener technologies. It is a marriage that must test very well aligned, with the government willing to listen to the private sector and vice versa. One will not be able to reach the goals without the other”.
Credibility recovery
The announcements made by Brazil at COP26 demonstrated the government’s alignment with the green agenda, according to the executive. Brazil announced on the first day of COP26 that it intends to reduce greenhouse gas emissions by up to 50% by 2030. Brazil also announced its intention to reduce methane gas emissions.
A declaration signed by 105 countries, including Brazil, sealed the commitment to collective action to halt and reverse forest loss and land degradation by 2030.
At the same time, the document highlighted the agreement for sustainable development and the promotion of rural transformations that are inclusive.
“We have been talking a lot with the government, as the private sector, and the COP is a moment of negotiation and recovery of the credibility of Brazil, which was very much demanded for deforestation in the Amazon, correctly, and this is the moment for Brazil to demonstrate that we are making the policies, what will be speech and complete progress”.
Reference: CNN Brasil
