Today is Monday, May 6, 2024.

Carbon credits in Brazil. Several States of the federation have developed their own jurisdictional legislation. This is while the Brazilian Congress does not approve the complex law proposed at the national level, leaving the country among the laggards on the subject. See that the status of the Bill (PL) is “awaiting dispatch” since February 7, 2024.

Now it was Paraná’s turn to propose such legislation. Paraná is exactly the home state of the rapporteur of the national project.

PL 271/2024 was filed on 30/April/2024 in the Paraná Legislative Assembly, which provides for the Policy for Mercado Regulado de Créditos de Carbono do Paraná (Regulated Carbon Credit Market in Paraná).

The benefits provided for in this PL are intended for public and private companies in the State of Paraná, civil society, municipalities and the State Government with the aim of promoting the reduction of greenhouse gas emissions, and the impacts of climate change, benefiting the health and well-being of the population in alignment with best practices for sustainable development.

Among others, the indication of a centralized registration system for carbon credits issued in Paraná, the role of the Paraná Institute of Technology in issuing certificates based on the State’s decarbonization plan and commercialization through auctions (national financial system) and bilateral trade.

Click on the image below to access the 3-page PL, followed by justifications, indicating its number. Or download directly right below.

Jurisdictional credits are generated at internal levels, such as a State, from assets that remunerate forest conservation activities or implementation of renewable energy, for example.

In Brazil, this type of legislation is based on the part of the Federal Constitution that indicates:

Art. 24. It is the responsibility of the Union, the States and the Federal District to legislate concurrently on:

VI – forests, hunting, fishing, fauna, nature conservation, defense of soil and natural resources, environmental protection and pollution control;

Furthermore, art. 225 prescribes that everyone has the right to an ecologically balanced environment, an asset for the common use of the people and essential to a healthy quality of life, imposing on the Public Power and the community the duty to defend and preserve it for present and future times. generations.

We would like to thank forestry engineer Carlos G. Caleiro Guimarães for contributing to this article. Carbon Credit Markets, which has its Brazilian headquarters in the State of Paraná, is happy with this legislative move.

And stay with us. To celebrate, this week we will publish articles about the State of Paraná and Curitiba city. Tomorrow we will cover the opportunities of the so-called Private Natural Heritage Reserves (RPPN – Reservas Particulares do Patrimônio Natural).