Brazil sets sights on regulated carbon market
Authorities eye design of EU ETS as they seek legislation to help fast-track decline in emissions through a cap-and-trade market
The Brazilian government is getting serious about strengthening the country’s nascent carbon market. Speaking at the COP28 summit in Dubai, President Luiz Inacio Lula da Silva promised to slash domestic emissions by 53% by 2030, before achieving carbon neutrality by mid-century. The government had also hoped to pass new carbon regulations in time for the summit. Beyond legislation promoting carbon credit projects and the voluntary carbon market (VCM), Brazil lacks distinct regulations at either the federal or state level. For heavy industry, there is still little incentive to cut carbon emissions and few punishments for exceeding limits. However, this could soon be about to change. In Octobe

Also in this section
19 May 2025
The two Gulf states are combining fossil fuel production with ambitions to become leaders in low-carbon energy
14 May 2025
Deal with Calpine shows oil and gas major ExxonMobil has no intention of curbing its CCS ambitions, despite US policy risks and broader scepticism over the energy transition
13 May 2025
Volatile tariffs add new risks for a sector already struggling to achieve economies of scale
30 April 2025
State administrations are using a flawed metric to justify green energy projects