Brazil Sets Deadline for Carbon Market Regulation

Brazil plans to publish rules regulating its carbon market by December next year. The government will also decide on the structure of a permanent governing body, which may become a regulatory agency. Cristina Reis, head of the special carbon market secretariat, shared this at a press conference.

Brazil's government has announced plans to establish rules for regulating its carbon market by December of the next year. Officials are crafting guidelines as the country intensifies efforts to address environmental concerns.

Cristina Reis, recently appointed to lead the Finance Ministry's newly-formed special carbon market secretariat, revealed that a decision will also be made regarding the operation of a permanent governing body, which could evolve into a regulatory agency. However, she noted that the structure is still under active discussion.

This initiative is a vital step as Brazil strives to enhance its global leadership in climate change and sustainability efforts, reflecting the government's commitment to environmental governance and economic development.

(With inputs from agencies.)