All the loners mingle — Where do they all come from and belong? Regulating sectoral emissions and carbon markets in Brazil

Low-Carbon Initiatives in the Pulp and Paper Industry and the Contributions to the Carbon Market in Brazil

“…The carbon market, a new global financial market, assigns a monetary value to greenhouse gas emissions (GHG), which cause damages such as rising sea levels, extreme weather events, and impacts on human health (Lyu et al, 2020;Sobrinho, 2023).…”

“…Imposing a cost on emissions discourages polluting activities and drives solutions for their reduction (Sobrinho, 2023). Essential in the transition to a green economy and the pursuit of carbon neutrality, the carbon market provides financial incentives for sustainable Since the ratification of the Kyoto Protocol in 1997, which set GHG reduction targets for developed nations, the carbon market has gained prominence (Vargas et al, 2021).…”

“…Essential in the transition to a green economy and the pursuit of carbon neutrality, the carbon market provides financial incentives for sustainable Since the ratification of the Kyoto Protocol in 1997, which set GHG reduction targets for developed nations, the carbon market has gained prominence (Vargas et al, 2021). The main carbon pricing instruments are emissions trading and taxation (Sobrinho, 2023). The Protocol established the Clean Development Mechanism (CDM) in 2005, allowing developing countries to implement emission reduction projects (Latimer & Maume, 2015;Vargas et al, 2021).…”

“…In Brazil, the regulated carbon market is in development, with a bill for the Brazilian Emissions Trading System (SBCE) under discussion (Sobrinho, 2023). The expectation is to regulate the national market for transparency and legal certainty, but technical details will come later through decrees and resolutions (Munhoz, 2023).…”

“…The expectation is to regulate the national market for transparency and legal certainty, but technical details will come later through decrees and resolutions (Munhoz, 2023). It is estimated that the delay in regulation could cost Brazil up to 25 billion euros per year (Sobrinho, 2023).…”