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Brazil Gets Ready to Cash Its Carbon Credits |
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Written by Nielmar de Oliveira
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Tuesday, 11 October 2005 |
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Alongside India, Brazil holds a leadership position in the Clean Development Mechanism (CDL) market, with 74 projects already identified by the Brazilian Ministry of Science and Technology.
This affirmation was made by the coordinator of the Energy Planning Program of the Federal University of Rio de Janeiro (Coppe/UFRJ), Emílio La Rovere.
According to La Rovere, these projects are already being processed in the country. "This places us in a leadership position as well in terms of the quantity of tons of carbon gas. These 74 projects alone will cut carbon dioxide emissions by 130 million tons. This will give us the leadership in the CDL market, ahead of India, which will take over second place," La Rovere said.
He pointed out that the CDL projects bank, inaugurated last month by the Rio de Janeiro Stock Exchange (BVRJ), in partnership with the Commodities and Futures Market (BM&F), will be an important showcase in the selection of projects to be tendered on the market.
This applies to both the selection of preliminary ideas for financing by those interested in Emission Reduction Credit Certificates (ERCs) and the presentation of projects that have already been recognized by certifying agencies, he explained.
The auctions will begin on the BVRJ by the end of the year, when, Brazil will become, in fact, the first of the emerging countries to negotiate ERCs on the stock exchange.
Agência Brasil
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