Environment

Brazilian lawmakers aim to regulate carbon markets ahead of COP26

Congress is seeking to get the jump on the government and approve carbon market legislation before Brazil's delegation jets off to Scotland, hoping to conclude Article 6 negotiations in Glasgow

carbon markets
Factory in Paraná. Photo: Roberta Blonkowski/Shutterstock

Brazilian House Speaker Arthur Lira told congressional leaders that he intends to take a bill regulating carbon markets in the country to a floor vote in the next few weeks. The idea is to approve the proposal before the UN Climate Change Conference (COP26), to be held next month in Glasgow. The bill, authored by Deputy Speaker Marcelo Ramos, creates domestic mechanisms for buying and selling carbon credits. 

There are still a few hoops for the bill to jump through before getting a floor vote, requiring analysis from three separate House committees. The first to pore over the proposal...

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