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ARTICLE · 27 NOVEMBER 2024

Brazilian Emissions Trading System Approved By The National Congress

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On November 19, 2024, the Chamber of Deputies approved Bill No. 182/2024, establishing the Brazilian Emissions Trading System (SBCE), following its approval by the Federal Senate on November 13. The text now awaits presidential approval.

BrazilEnvironment
Luiz Gustavo Bezerra
Luiz Gustavo Bezerra
Gedham Gomes
Gedham Gomes
Victor Rodrigues
Victor Rodrigues
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On November 19, 2024, the Chamber of Deputies approved Bill No. 182/2024, establishing the Brazilian Emissions Trading System (SBCE), following its approval by the Federal Senate on November 13. The text now awaits presidential approval.

The SBCE will operate as a typical cap-and-trade system, in which its managing body will be responsible for proposing—and the Interministerial Committee on Climate Change (CIM) will be responsible for approving—the maximum limits for greenhouse gas (GHG) emissions, and the number of Brazilian Emission Quotas (CBEs) (i.e., allowances) to be allocated among regulated operators. Mandated operators must then carry out "periodic reconciliation," in which the level of net emissions reported must correspond to the number of CBEs (or other assets that are part of the SBCE) held by the operator. Operators capable of reducing their emissions will be able to sell excess CBEs, while operators that emit above the CBE limits initially allocated

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