Now hot in Brazil: ‘carbon credits’ to fight global warming

SAO PAULO (AFP) – Programs aimed at reducing greenhouse gas emissions are blossoming in Brazil, with the “carbon credit” system winning interest from companies in industrialized countries.

Brazil ranks second among developing countries, behind India and ahead of Mexico and China, in the number of these investments, though under the Kyoto Protocol on climate change it is not required to cut emissions of its greenhouse gases.

“Developing countries are committed to introducing clean techniques but they do not have quantitative targets,” as highly industrialized countries bear most of the responsibility for curbing these emissions, said Luiz Fernandes, the science and technology ministry’s executive secretary.

In total, 102 projects have been approved so far in Brazil. Fifty-eight more are under review as part of the clean development mechanism.

AFP