October 17, 2019 |
Once a global leader on climate change, Brazil is steering a decidedly different course under President Jair Bolsonaro. The new administration has expressed concern that environmental policies are at odds with economic growth. The way the government handled the recent fires in the Amazon has only further tarnished its image as a green pioneer.
However, the launch of a new carbon credit marketplace in Brazil, aimed at mitigating global warming and providing a new investment opportunity, goes some way to counterbalancing that perception.
The government hopes the new credit will encourage expanded use of biofuels and increase demand for ethanol. Brazil is one of the world’s biggest producers of
Though the Bolsonaro administration has come under criticism for its perceived indifference to climate change, Brazil is about to launch a marketplace for carbon credit certificates that could reduce fossil fuel emissions