Among the measures, on November 28, 2019, the Decree No. 10.144 was published, which instituted new guidelines for the National Commission for the Reduction of Greenhouse Gas Emissions from Deforestation and Forest Degradation, Conservation of Forest Carbon Stocks, Sustainable Forest Management and Increase of Forest Carbon Stocks – CONAREDD+, responsible for coordinating, following up and monitoring the implementation of the National Strategy for REDD+.
The new decree is of great importance for conservation projects, especially the private ones, since the Commission requests the creation of an Executive Secretariat, which will be responsible for keeping a record of reduced emissions and the respective fundraisings in order to avoid double accounting. This means that the carbon offsets generated by private REDD+ projects and delivered to the voluntary market to other private agents are not counted for the targets for reducing the emissions in Brazil in the scope of the Paris Agreement – a risk that some companies questioned when deciding which project to follow on.
The carbon market has been in full growth since 2018 due to the demand from new companies and increasing ambition of old buyers for solutions that offset their carbon emissions and effects on climate change.
Thus, this legal advance makes us more optimistic, since our REDD+ projects are known for their positive environmental, social and economic effects, in addition to gaining the support from the Brazilian government and now the companies that are interested in neutralizing carbon emissions can have more confidence in investing in the conservation of the Brazilian Amazon.
Do you want to neutralize your emissions? We can help you! Chat with our REDD+ team