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

[vc_row css=”.vc_custom_1655220644729{margin-top: 0px !important;margin-right: 0px !important;margin-bottom: 0px !important;margin-left: 0px !important;}”][vc_column][vc_column_text]The Brazilian Minister of the Environment and the Ambassador of Japan to Brazil have signed an agreement to foster the development of the regulated carbon credit market, in order to reduce greenhouse gas emissions and contribute to the goals established at the 2021 Conference of the Parties of the United Nations Climate Change Conference (COP 26).

According to the Ministry of the Environment in Brazil, such agreement aims to emphasize the importance of creating bilateral investment opportunities in green investments related to solid waste management, with the purpose of encouraging the generation of clean energy and  the reduction of methane emissions.

In this regard, the Ministries of both countries have stated that 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 the business sectors of their respective countries in order 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 21^st Conference of the Parties (COP21).

This agreement provides for the reduction of carbon dioxide emissions from 2020 onwards, in addition to bolstering efforts aimed at facing the threat presented by climate change and improving the ability of countries to deal with the impacts generated by climate change.

Through such agreement, governments have committed to taking action in order to keep the rise in Earth’s average temperature below 2°C, in comparison to pre-industrial levels, and seek to limit such rise to a maximum of 1.5°C.

Demarest’s ESG and Environmental teams are available to resolve any inquiries and provide further information regarding carbon credits and sustainable business development. 

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-dois-paises[/vc_column_text][/vc_column][/vc_row]