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
![](/images/white-fade.png)
Also in this section
21 July 2024
Awards experience 20% increase in nominations this year, with submissions from 27 countries
18 July 2024
Platform developed at Scottish university uses advanced simulations and machine learning to find most cost-effective and sustainable combinations of materials for use in carbon capture
18 July 2024
Stockholm Exergi agrees to one of world’s largest deployments of CO₂ liquefication technology to enable transport of emissions captured from biomass power plant
11 July 2024
Watkins will leverage her financial acumen and strategic insight to lead Gulf’s commercial initiatives across media, events, and market intelligence