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Sustainability: Brazilian Perspectives and Challenges after the First Kioto’s Protocol Period

Sustainability: Brazilian Perspectives and Challenges after the First Kioto’s Protocol Period

Renato Bonadiman
Copyright: © 2013 |Volume: 4 |Issue: 3 |Pages: 9
ISSN: 1947-8402|EISSN: 1947-8410|EISBN13: 9781466634091|DOI: 10.4018/jsesd.2013070104
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MLA

Bonadiman, Renato. "Sustainability: Brazilian Perspectives and Challenges after the First Kioto’s Protocol Period." IJSESD vol.4, no.3 2013: pp.52-60. http://doi.org/10.4018/jsesd.2013070104

APA

Bonadiman, R. (2013). Sustainability: Brazilian Perspectives and Challenges after the First Kioto’s Protocol Period. International Journal of Social Ecology and Sustainable Development (IJSESD), 4(3), 52-60. http://doi.org/10.4018/jsesd.2013070104

Chicago

Bonadiman, Renato. "Sustainability: Brazilian Perspectives and Challenges after the First Kioto’s Protocol Period," International Journal of Social Ecology and Sustainable Development (IJSESD) 4, no.3: 52-60. http://doi.org/10.4018/jsesd.2013070104

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Abstract

During the first Kyoto Protocol period (2008-2012) the carbon market evolved globally as well as Brazil. Clean Development Mechanism (CDM) projects, which promote technology substitution in order to obtain “cleaner” processes, had an expressive participation. Within this scenario, Brazil and mainly China applied a considerable number of projects. However, in the case of REDD (Reduction from Deforestation and Forest Degradation) and REDD+, the complexity of discussions regarding legal issues, carbon reduction/mitigation methodologies, complexity around methodologies, resources distribution, costs, etc., associated with the world economic crisis, slowed down this process. Reflection of that can be seen through the carbon allowance price deterioration resulting in the prediction of retraction in the 2012 market size. In this sense, the scenario after the first period of the Kyoto’s Protocol, presents many challenges, but also presents opportunities. Legislations are emerging from different parts of the globe and also in Brazil. They indicate the nucleation of future obligations around the control and reduction of GHG emissions. Also, efforts to increase carbon allowances quotations are also being planned. Bilateral agreements are emerging being bottom-up alternatives for a global carbon commercialization scheme. On top of these actions an agreement to the creation of a billionaire fund until 2020 create great expectations around the development and growth of the carbon markets presenting the sustainability issue as an unquestionable trend to the upcoming years.

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