MINISTRY OF ENVIRONMENT LAUNCHES THE FOREST + CARBON PROGRAM

Ordinance No. 518/2020 from the Ministry of Environment was published on October 01, 2020, launching the Forest+ Carbon Modality Program.

The Forest+ Program, created by Ordinance No. 288/2020 from the Ministry of Environment, aims at encouraging the private market of payments for environmental services, towards enabling the conservation and protection of native vegetation in all Brazilian biomes, besides encouraging the creation of public policies aimed at fighting climate change.

In view of this, the Forest+ Program, in its Carbon modality, aims to encourage the voluntary carbon credit market, both public and private, for the protection of native vegetation, as acknowledged by CONAREDD+ Resolution No. 03/2020.

The new Ordinance makes it clear that the adoption of a voluntary carbon credit market, due to its proactive nature, will not create any obligation regarding the accounting, adjustment or registry within the carbon emissions national inventory  by the Federal Government. As a result, it is allowed that eventual voluntary markets establish their own rules and parameters, without the establishment of any kind of liability regarding the goals established by the Brazilian Government.

Our Environment and Sustainability Team is available for further clarifications on this matter.