SAO PAULO, May 19 (Reuters) – Brazil’s Finance Ministry on Tuesday released a preliminary proposal for phased sectoral coverage of the country’s regulated carbon market, outlining which industries will be required to report greenhouse gas emissions.
• The proposal introduces monitoring, reporting and verification obligations in three phases starting in 2027, the ministry’s Extraordinary Carbon Market Secretariat said.
• Phase one, beginning in 2027, includes paper and pulp, iron and steel, cement, primary aluminum, oil and gas exploration and production, refining and air transport.
• Phase two, set for 2029, covers mining, recycled aluminum, electricity, glass, food and beverages, chemicals, ceramics and waste sectors.
• Phase three, starting in 2031, encompasses road, water and rail transport.
• Each sector will have a four-year preparation period, with the first year for monitoring plan development, years two and three for emissions monitoring, and year four for national allocation planning.
• The initial phase will only require emissions reporting, with no costs, charges or reduction obligations imposed on companies.
• A public consultation is planned for July, with the final version expected later this year.
(Reporting by Fernando Cardoso; Editing by Chizu Nomiyama)
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