Lula has reinstated the Amazon Fund
Brazil’s carbon markets to grow under Lula
Incoming president faces a series of decisions on legacy legislation that could provide impetus for domestic ETS and offset markets
Both compliance and voluntary offset carbon markets are likely to grow in scope under the new Lula da Silva administration in Brazil, according to industry experts. Some promising actions have already been taken. Following his re-election in November 2022, the new president committed his country to reaching net-zero deforestation by 2030 at the Cop27 climate summit in Sharm el-Sheikh. And Lula has appointed the environment minister from his previous tenure (2003–11), Marina Silva, back to the same role. Silva previously used a number of tools to combat deforestation, including overhauling management of public forests, creating a biodiversity institute and tapping international climate financ
Also in this section
27 September 2023
Investment in African offsets and ambitions to create a trading hub demonstrate Mideast Gulf state’s commitment to growing markets
26 September 2023
Newly launched Taiwan Carbon Solution Exchange is expected to enable companies to trade in both domestic and international credits
22 September 2023
A flurry of interest in direct air capture signals a key role for the technology in the push for net zero
21 September 2023
Technology company says its latest technologies can achieve 30–50% cost reductions at the capture stage
