Carbon market will be debated at the Agribusiness Law Congress

The environmental theme, of which the mitigation of the presence of greenhouse gases in the atmosphere stands out, is a central issue in Brazil. Talking about a carbon market directly involves also discussing its regulation. Therefore, since last year, actions have been carried out to create a regulated carbon market. This is the case of Decree 11.075/22, which established the National System for Reducing Greenhouse Gas Emissions and which establishes rules for preparing plans to mitigate climate change.

In the same sense, in November, the Senate's Economic Affairs Committee approved Bill 412/2022, which regulates the Brazilian Emissions Reduction Market (MBRE) and which is currently under discussion in the Environment Committee. In 2023, the implementation of the Carbon Credit Exchange in Brazil, in Rio de Janeiro, is expected, after formalization by the Rio government with Nasdaq Market Technology and the Global Environmental Asset Platform (GEAP).

According to the study “Opportunities for Brazil in Carbon Credits”, by ICC Brasil (International Chamber of Commerce) in partnership with WayCarbon, Brazil has the potential to supply, in the next decade, up to 48,7% of global carbon demand. voluntary market and up to 28% of global demand from the regulated market within the UN.

The progress of the regulated carbon market in Brazil, its impacts on economic activities, social development and environmental protection and, especially, its effects on Brazilian agribusiness will be the topic of the first panel of the 3rd Brazilian Congress of Agribusiness Law (CBDA ), Carbon Market – Sectoral Regulation. With the presence of experts in law, agricultural economics and sustainability, the panel will assess the current situation in this market, in addition to discussing paths towards regulation and discussing Brazil's potential to be one of the global leaders in decarbonization.

The panel will feature Bianca Picado, biologist and lawyer at Martinez Associados, Daniel Vargas, coordinator of the Bioeconomy Observatory at Fundação Getulio Vargas (FGV), and Natascha Trennepohl, partner at Trennepohl Advogados. Moderation will be in charge of Grazielle Parenti, Head of Business & Sustainability in Brazil and LATAM at Syngenta.

The Brazilian Agribusiness Law Congress will take place on March 29th. In addition to the Carbon Market, three other current and fundamental themes for Brazilian agribusiness will be discussed: Tax Reform and Special Fiscal Regimes, Foreign Investment and Property Law – Protections and Restrictions and Bioeconomy and the Future of Agroindustrial Chains.

Organized by the Brazilian Institute of Agribusiness Law – IBDA, the event will be promoted in a hybrid format – in person, in Brasília (DF), for guests, and broadcast virtually, free of charge, on the official website. Since its first edition, the CBDA has highlighted the main issues that permeate the law and economics of industrial systems and the legal and regulatory challenges of the sector, expanding the systemic and multidisciplinary vision of stakeholders.