Latin American Governments Advance Carbon Market Policies Ahead of COP31 Amidst REDD+ Litigation
Governments across Latin America have made significant decisions regarding carbon markets and forest policy in preparation for the COP31 climate negotiations. Brazil's Interministerial Committee on Climate Change (CIM) approved general guidelines for its emissions trading system (ETS), including rules for recognizing carbon credits, establishing a central registry, and planning for emissions allocation. The committee also set authorization limits for Internationally Transferred Mitigation Outcomes (ITMOs) at 50 million for 2026-30 and 100 million for 2031-35. Separately, Brazil approved a national roadmap to halt deforestation by 2030. Argentina submitted its third Nationally Determined Contribution (NDC), signaling an openness to Article 6 mechanisms and international carbon credit transfers, coinciding with Senate approval of a carbon market bill. Concurrently, legal challenges against REDD+ projects continue to accumulate in the region, with federal prosecutors in Brazil seeking to suspend the Mejurua p...
