Brasília – Brazil’s Environment minister Joaquim Leite (pictured) said on Monday (22) that the new global carbon market could move around USD 50 billion a year, and the government estimates that USD 10 billion will be for the carbon that Brazil will export.
In an interview with radio show A Voz do Brasil, Leite referred to the goal of achieving carbon neutrality by 2050 as the greatest ambition presented by any developing country during the 26th Conference on Climate Change (COP26) in Glasgow, Scotland, earlier this month.
He said Brazil played a leading role in the agreement that created the global carbon market, pressing countries that wanted to freeze talks and clarifying its strengths to other countries. “This was our goal, and we managed to create the global carbon market. Brazil will be a global carbon exporter,” he finished.
In a landmark agreement, COP26 created the global carbon market based on its regulation at the final declaration of the conference. Now, countries will be able to trade carbon credits amongst them, a key step to make the transition the current economy to a low-carbon one, thus slowing down global warming.
Translated by Guilherme Miranda
