Brazil expects Arab participation in carbon market | MENAFN.COM

Coming back from a meeting at the Organization for Economic Co-operation and Development , the minister was enthusiastic about the role that Brazil could play in international carbon trade, helping countries and companies to reach their emission reduction targets by selling them credits.

Furthermore, the minister sees a diversity of possible sectors for Brazil to explore, which he calls as“a renewable energy pre-salt.”“The world will surely look to Brazil as a player in this market,” he said.

The minister believes that there will plenty of opportunities for the Arabs to buy credits in Brazil.

According to him, the world has a very interventional carbon credit market.“We believe that we could do something more liberal while cutting emissions,” the minister said.

Leite summed up what this regulation could entail, mentioning the creation of a single registration system and the work of the Real State Value Commission in recognizing assets.

The minister explained how the current moment differs from the one when the Kyoto Protocol was implemented, as there was no demand for carbon credits back then.

During the meeting, the minister presented a project launched by the government of biomethane production out of organic waste to substitute diesel in heavy vehicles.

He said Brazil was warmly welcomed in the meeting.“They realized that Brazil is part of the solution,” he said.

The event featuring the lecture of the Environment minister was opened by the ABCC president Osmar Chohfi, who discussed the efforts of the entity to connect Arabs and Brazilians while increasing engagement with sustainability.

Chohfi also analyzed the relevant role that Brazil plays in the environmental sector.“Brazil, with its unparalleled biodiversity, can play an extremely important role in the future of the green economy,” he said.

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