Brazil’s Environment Minister Wants to Reset the Carbon Credit Debate

By Zahra Hirji and Simone Iglesias
Bloomberg News and The Financial Post
September 26, 2024
Category: Carbon, Climate & Bioenergy
Region: International

Forest carbon credits, which pay governments and private landowners to conserve carbon-rich forests as a way to slow climate change, face mounting criticism for being less effective than advertised. Brazil’s top climate official is pushing back on their dubious reputation… In Brazil, fighting deforestation is synonymous with fighting climate change. The country has about 60% forest cover and is home to the majority of the Amazon rainforest. More than half of Brazil’s emissions are tied to changes in land use and deforestation… Companies, governments and others can sell forest carbon credits to groups looking to offset their own emissions. But the credits have not always worked as intended: Investigations have pointed to flawed accounting and exaggerated claims.

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