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Brazil's Congress Approves Carbon Credits Market Rules with 356 Votes, Awaiting Lula's Sanction

Nov 20, 2024, 12:19 PM

Brazil's Congress has approved legislation establishing rules for the local carbon credits market with 356 votes in favor. The project, which passed through both the Chamber of Deputies and the Senate, is now awaiting the sanction of President Luiz Inácio Lula da Silva. The carbon market will be implemented gradually over the next six years.

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Will Brazil's carbon credits market be operational by the end of 2025?

Brazil•Congress•Chamber of Deputies•Senate

Resolution / Starting Odds

No • 50%

Yes • 50%

Official government announcement or report confirming the operational status of the market

Will Lula sanction the carbon credits market legislation by the end of 2024?

Brazil•Congress•Chamber of Deputies•Senate

Resolution / Starting Odds

Yes • 50%

No • 50%

Official announcement from the Brazilian government or press release from the President's office

Will the carbon credits market legislation face legal challenges by mid-2025?

Brazil•Congress•Chamber of Deputies•Senate

Resolution / Starting Odds

No • 50%

Yes • 50%

Public records of legal proceedings or court documents

What will be the impact of Brazil's carbon credits market on national emissions by the end of 2026?

Brazil•Congress•Chamber of Deputies•Senate

Resolution / Starting Odds

No change • 25%

Increase • 25%

Significant reduction • 25%

Moderate reduction • 25%

Reports from Brazilian environmental agencies or international organizations like the UNFCCC

What will be the international reaction to Brazil's carbon credits market by the end of 2025?

Brazil•Congress•Chamber of Deputies•Senate

Resolution / Starting Odds

Criticism • 25%

Positive support • 25%

Mixed reactions • 25%

Neutral • 25%

Statements or reports from international environmental organizations or foreign governments

Which sector will first participate in Brazil's carbon credits market by the end of 2025?

Brazil•Congress•Chamber of Deputies•Senate

Resolution / Starting Odds

Transportation • 25%

Energy • 25%

Agriculture • 25%

Manufacturing • 25%

Official announcement from the Brazilian government regarding the sectors included in the market