INSUBCONTINENT EXCLUSIVE:
CEO Munir Soares highlighted key advancements, including the finalization of Article 6 of the Paris Agreement, which governs international
carbon trading, and new integrity standards from the Integrity Council for the Voluntary Carbon Market (ICVCM).These measures aim to restore
trust after reputational crises involving some project types
Brazil emerged as a focal point, with its approval of laws regulating carbon markets and establishing the Brazilian Emissions Trading System
(SBCE).Analysts believe this framework could position Brazil as a global leader in sustainability, particularly through projects like
reforestation and REDD+ (Reducing Emissions from Deforestation and Forest Degradation).Global Carbon Market Faces Challenges as Brazil
Emerges as a Sustainability Leader
(Photo Internet reproduction)Estimates suggest Brazil could generate up to 7 billion metric tons of CO? equivalent (tCO?e) through
Investment in new carbon credit projects surged to $14 billion globally by September 2024, setting a record.The Growing Market for Carbon
OffsetsContracts for future credit deliveries, known as offtakes, also increased significantly
High-integrity projects, particularly those focused on carbon removal through nature-based solutions like reforestation, dominated
demand.Prices for these credits averaged $14.60 per tCO?e and reached up to $50 in future contracts, far outpacing renewable energy credits
priced as low as $2 per tCO?e
accelerating validation processes is crucial to meet rising demand
Looking ahead, Systemica forecasts market growth to $3 billion by 2025 and $35 billion by 2030.However, success hinges on integrating
voluntary and regulated markets while preventing double counting of emissions reductions
This will be crucial in combating climate change.
