Government inaction prompts voluntary REDD+ carbon credit boom in Brazil
by Fernanda Wenzel on 6 April 2021
With the Bolsonaro government largely indifferent to participating in a carbon credit market, and amid intensifying pressure from clients and investors, a voluntary carbon credit market is booming in Brazil. The country, however, still doesn’t have any regulation about how and by whom credits can be issued.
REDD+ projects that issue carbon credits for reforesting or avoiding deforestation have caught the attention of financial market players. Amid the new carbon credit trading firms, such as financial technology company Moss, and other initiatives, Brazilian projects offer both examples of success and failure in forest preservation.