Senate analyzes new opinion on Carbon Emissions Trading System (SBCE)

Yesterday (11/04) the official opinion of Senator Leila Barros (PDT/DF) on Bill 182/2024, which establishes the Brazilian Greenhouse Gas Emissions Trading System (SBCE), was published. The matter is on the agenda of the deliberative session of the Senate Plenary scheduled for today (11/05) at 11:00 am. 

The new opinion restores some aspects of the text originally approved by the Senate (PL 412/2022), while maintaining the base text approved by the Chamber of Deputies, which incorporates aspects of the regulated and voluntary markets, with specific exclusions and changes in wording. Below, we list some of the main changes in the opinion in relation to the initial text of the matter:

• SBCE Governance: Return of the competence of the Interministerial Committee on Climate Change (CIM) as a deliberative body of the SBCE. In the text of the Chamber of Deputies, the competence had been attributed to a new body, subordinate to the CIM. Furthermore, the Chamber of Regulatory Affairs was once again subordinate to the Permanent Technical Consultative Committee, and no longer to the deliberative body.

• Allocation of Resources: The Chamber's text provided for a minimum allocation of 75% to a BNDES fund to finance decarbonization initiatives. In the current opinion, the same minimum percentage will be allocated to the National Climate Change Fund, to be used for the same purpose. The allocation of resources will also be limited to a period of five years.

• Legal Nature: change in the conceptualization of Carbon Credits, which now adopt the legal nature of civil credit only in the case of forest carbon credits for preservation or reforestation, except those originating from jurisdictional programs.

• Return of the provision of powers of the Securities and Exchange Commission (CVM), previously attributed to a subsequent Act of the Executive Branch.

• Exclusion of the concept of Environmental Credit Receivables Certificate (CRAM).

• Exclusion of the provision for compensation and GHG emissions by motor vehicles (Art. 59).

Find out more at:https://www25.senado.leg.br/web/atividade/materias/-/materia/161961