2023-10-17 03:17:28
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Bill could position Brazil as a model of sustainable development
O Brazil
it remains in the vacuum of the Carbon Market and could lose its way in history compared to other countries with specific legislation, despite its great potential. The regulation of this market plays a fundamental role in operational matters as well as releasing crucial investments for its development. There is no doubt about how challenging this market is and the advantages that Brazil has. However, it needs the development of a solid public policy base to support it.
Recently, the Project Lei nº 412/2022
was approved in a final decision by the Senate Environment Committee, on October 4, and now goes to the Chamber of Deputies
. This legislation is considered an essential tool to guarantee the necessary legal certainty and, thus, unlock significant investments, encourage intensive capital and introduce the technologies necessary for decarbonization.
“The project is an essential means of bringing the necessary legal certainty in relation to the topic, in order to unlock important investments, stimulate intensive capital and bring the necessary technologies for decarbonization”, explains Isabela Morbach, co-founder of CCS Brasil, an organization without non-profit that aims to stimulate activities linked to Carbon Capture and Storage (CCS) in the country.
The approval of this bill strengthens the basis of the new industry in Brazil and could position the country as a model of sustainable development for the world. However, the proposed definitions will require companies to adjust their greenhouse gas emissions. If these limits are exceeded, they must compensate for emissions by purchasing certificates of reduction or removal of emissions registered in the Brazilian Emissions Trading System (SBCE), which will function as a kind of green exchange where those who have not managed to reach them will buy from those who have exceeded them. the goals.
The project establishes important guidelines, including a regulation period of two years after the sanction, an adaptation period of two years, the definition of supervisory bodies, the determination of minimum levels for reporting emissions (greater than 10 thousand tons of carbon per year) and parameters for imposing emission limits for stationary sources (the current version of the project establishes 25 thousand tons per year).
However, in this transition phase adjustments need to be made to adapt to the national reality.
“This needs to be done progressively so that the industry can achieve its goals without losing competitiveness and continue to strengthen and develop in a sustainable way. Therefore, it is necessary to think about public policies that support the industry in this moment of transition”, highlights Isabela Morbach, highlighting that new regulations may also have to be adjusted to adapt to the national reality.
There are still important issues to be resolved, such as the definition of emission limits, the allocation of emission permits, the process of registering reduction certificates and acceptable certification methodologies, in addition to the speed in structuring the SBCE management bodies. Isabela Morbach highlights the importance of a clear distinction between the points already defined by the bill and what will be the responsibility of the Federal government
detail, in order to provide clarity and security for everyone involved.
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