ESG Newsletter | Brazil and Japan sign the first bilateral agreement to encourage the development of the regulated carbon credit market

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The Brazilian Minister of the Environment and the Japanese Ambassador to Brazil signed an agreement to promote the development of the regulated market for carbon credits, in order to reduce greenhouse gas emissions and contribute to the objectives set during the 2021 Conference of the Parties United Nations Climate Change Conference (COP 26).

According to Brazil’s Ministry of the Environment, such an agreement aims to highlight the importance of creating bilateral investment opportunities in green investments related to solid waste management, with the aim of encouraging energy production. cleaner and the reduction of methane emissions.,.

In this regard, the ministries of the two countries said they will collaborate by sharing information, best practices and experiences regarding market mechanisms aimed at reducing greenhouse gas emissions. Finally, they will also promote measures to encourage business sectors in their respective countries to invest in climate change mitigation projects.

The Paris Agreement is a global treaty, adopted in December 2015 by the signatory countries of the United Nations Framework Convention on Climate Change (UNFCCC), during the 21st Conference of Parties (COP21).

This agreement provides for the reduction of carbon dioxide emissions from 2020, in addition to strengthening efforts to address the threat posed by climate change and to improve the capacity of countries to cope with the impacts generated by climate change. climatic.

Through this agreement, governments have committed to take action to keep the increase in the Earth’s average temperature below 2°C, compared to pre-industrial levels, and seek to limit this increase to a maximum of 1, 5°C.

Demarest’s ESG and environmental teams are available to respond to any request and provide further information regarding carbon credits and corporate sustainability.

Source: https://www.gov.br/mma/pt-br/noticias/brasil-e-japao-assinam-primeiro-acordo-bilateral-para-fomento-do-mercado-regulado-de-carbono-entre-os- must-pay

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