From the 2000s, a new market focused on the creation of projects to reduce emissions of gases that accelerate the process of global warming, stepped in.
This is the market for carbon credits, which emerged from the Kyoto Protocol, an international agreement that established that from 2008 to 2012, developed countries should reduce emissions of greenhouse gases (GHG) by a 5.2% average compared to levels measured in 1990.
The Kyoto Protocol created the Clean Development Mechanism (CDM), which provides certified emissions reduction. Once achieved this certification, the countries that promote the reduction of greenhouse gas emissions are entitled to carbon credits and can sell them to countries that have targets to meet.
“Ecosystems have no borders. From an environmental standpoint, what matters is that there is a reduction of global emissions, “says the consultant on sustainability and renewable energy, Antonio Carlos Porto Araújo.
During the last climate Climate Conference (COP 17) held in 2011 in South Africa, the Kyoto targets have been updated and expanded from 25% cuts in emissions to 40% in 2020 over 1990 levels for developed countries.
"This could mean an improvement in the activities in the carbon credit segment which had been a bit unattractive," said Ali, author of "How to trade carbon credits."
Brazil occupies the third position among world countries that participate in the market, with about 5% of the world’s share and 268 projects. The initial expectation was to absorb 20%.
"We have a history in this market. We are one of the countries highlighted in the CDM in quality and numbers of projects, "said director of the Department of Climate Change Ministry of Environment, Karen Suassuna.
She also remarked that, the mechanism encouraged the creation of new technologies to reduce greenhouse gas emissions in Brazil.
Reducing emissions of greenhouse gases (GHGs) is measured in tones of carbon dioxide equivalent - t CO2e (equivalent). Each tone of CO2 that is reduced or removed from the atmosphere corresponds to a unit issued by the CDM Executive Board, called Certified Emission Reduction (CER).
Each tone of CO2e is equivalent to a Carbon Credit. The idea of the CDM is that each tone of CO2e that is not emitted or absorbed from the atmosphere by a developing country can be traded on the world market through Certified Emission Reductions (CER).
The nations that are unable (or unwilling) to reduce their emissions can purchase RECs in developing countries and use them to fulfill their obligations.
Strategic Affairs Secretariat of the Presidency
Inquiry website National Monetary Council (CMN)
Consulting the site of the Chamber of Deputies - advice on legislation/Clean Development Mechanism