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ARTICLE · 06 JULY 2020

Regulations For The Execution Of Commitment Terms To Fulfill Obligations Related To Environmental Compensation Before ICMBio

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On June 18, 2020, Normative Ruling No. 7 of the Chico Mendes Institute for Biodiversity Conservation ("ICMBio"

BrazilEnvironment
Paulo De Bessa Antunes
Paulo De Bessa Antunes
Luiz Gustavo Bezerra
Luiz Gustavo Bezerra
Vilmar Gonçalves
Vilmar Gonçalves
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On June 18, 2020,  Normative Ruling No. 7 of the Chico Mendes Institute for Biodiversity Conservation ("ICMBio") was published, which regulates the administrative procedures for the execution of Environmental Compensation Commitment Terms ("TCCA") related to the expected compensation for the licensing of projects with significant environmental impact (Article 36 of the SNUC Law - Federal Law No. 9,985/2000).

Normative Ruling No. 7 regulates the two ways to fulfill the environmental compensation: execution of the deposit in a private fund created by an official financial institution selected by ICMBio of an amount determined by the licensing agency in the Environmental Compensation Fund ("FCA"), and direct execution in which the entrepreneur directly implements the compensatory measures.

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