The Economic Affairs Committee (CAE) of the Federal Senate approved at the end of November a bill that regulates the Brazilian Market for Reducing Emissions (MBRE) of gases that cause the greenhouse effect. PL 412/2022 went to the Environment Commission.

The MBRE will be operated on commodity and futures exchanges, stock exchanges and over-the-counter entities, authorized by the Securities and Exchange Commission (CVM), where securities representing certified greenhouse gas emissions avoided will be traded.

An amendment accepted in the PL makes it clear that agricultural and forestry activities are not part of the regulated market, being liable to generate verified emission removals (RVE) in the voluntary market. The text, however, encourages low-carbon agriculture practices, the conservation and restoration of native vegetation and the recovery of degraded areas and the establishment of emission targets in line with the sectorial mitigation and adaptation plans established based on the Policy National on Climate Change.