Brazil Presidential Candidate Silva Moots Price on Carbon

 

Brazilian presidential candidate Marina Silva plans to put a price on greenhouse gas emissions and implement a national carbon market if elected, according to policy proposals released on Friday.

In the document, the coalition behind Silva's candidacy said the measures would help Brazil rein in emissions, which are on the verge of rising again after years of successfully being cut.

Brazil had reduced its carbon emissions from 2.85 billion tonnes of CO2e (carbon dioxide equivalent) in 1995 to 1.48 billion in 2012, mainly due to a sharp reduction in deforestation after the adoption of tougher legislation and a satellite-based system to monitor forest loss.

But large increases in thermal power generation and agricultural production have recently threatened to reverse the trend.

Besides carbon pricing and the carbon market, Silva's coalition plans to use tax tools to encourage the use of cleaner energy, enforce a halt on forest losses, and implement financial compensation for landowners who preserve biodiversity.

The Brazilian presidential race was upended by the late entry of Silva, a popular environmentalist, following the death of her party's previous candidate, Eduardo Campos, in a plane crash on Aug. 13.

Talking to journalists after the announcement of the proposals Friday, Silva said that she would deepen Brazil's commitment to reduce heat-trapping gases at the Paris round of climate talks, in 2015, when a new global deal to replace the Kyoto Protocol is expected to be clinched.

Brazil's current target is to reduce these gases by up to 39 percent against projected trends by 2020.

(Reporting by Marcelo Teixeira; Editing by Leslie Adler)