By the end of the Lula government’s term in 2026, Brazil must confirm a path toward its 2030 goal of zero net deforestation, which will require incentives in the form of fiscal measures such as carbon credits, Marina Silva, Brazil’s Minister of the Environment and Climate Change, said this week.
Each carbon credit represents one ton of carbon dioxide emissions. Companies, governments and others can sell forest carbon credits to groups looking to offset their own emissions. Brazil has about 60 percent forest cover, and more than half of the country’s emissions are linked to changes in land use and deforestation. Carbon credit system can help to reverse the trend of large-scale deforestation.