BdF Explains | Why the carbon credit market

This Sunday (31), begins the United Nations Conference on Climate Change (COP26), which annually reviews the world rules in relation to the environment. Heads of State and Government will meet in Glasgow, UK, for two weeks to debate the challenges of containing the global climate emergency. President Jair Bolsonaro (non-party), however, declared that he should not attend the meeting.

One of the central themes will be the regulation of the carbon credit market, which establishes permissions to emit polluting gases in accordance with the financing of environmental protection projects.

The big economic powers and the biggest emitters of greenhouse gases should finance reforestation projects in less developed countries. However, the lack of environmental legislation and little enforcement open the door to fraud and corrupt practices, according to Rebbeca Pearse and Steffen Bohm in “Ten reasons why carbon markets will not bring about radical reduction of emissions”.

A company can invest in a forest that is already conserved or invest in trees that can take more than two decades to grow, while enjoying the right to pollute in the present.

In practice, the compensation mechanism ends up creating conditions for the biggest polluters, such as the petrochemical and thermoelectric energy industries, to continue polluting without reaching the goals of the UN 2030 Agenda, which provides for the neutralization of CO2 emissions.

In Europe, between 2008 and 2019, energy companies profited around 50 billion euros (approximately R$ 330 billion) selling carbon credits, according to a survey by the NGO Carbon Watch.

O Brazil in fact investigated more details and exposes the contradictions of the carbon market to save the world from the climate crisis.

Edition: Thales Schmidt

Deixe um comentário

O seu endereço de e-mail não será publicado. Campos obrigatórios são marcados com *