Approved by the Environment Committee of the Federal Senate at the beginning of October (10/04), Bill No. 412/2022 (“Bill”) establishes the Brazilian Greenhouse Gas Emissions Trading System (“SBCE”). The Bill has reached the Chamber of Deputies, where it has been appended to a series of other bills with similar themes that shall be submitted for consideration by the plenary. The rapporteur of the Bill is Congressman Aliel Machado, from the Green Party (state of Paraná).
In general terms, the SBCE establishes a regulated carbon market in Brazil through a cap-and-trade system, a legal framework that limits Greenhouse Gas Emissions (“GHG”) and enables the trading of assets representing these emissions, their reduction, or their removal.
