Brazilian President Luiz Inácio Lula da Silva attends a leaders’ meeting with Malaysian Prime Minister Anwar Ibrahim during his official visit. (Photo: Goverment of Malaysia)
With less than two weeks before the UN Climate Conference (COP30), host country Brazil is preparing to unveil an ambitious proposal for a global carbon market. Finance Minister Fernando Haddad confirmed that the government is holding talks with China and the European Union and has set up a dedicated unit to coordinate international outreach.
At the same time, President Luiz Inácio Lula da Silva said Brazil is seeking to partner with ASEAN nations to develop biofuel production, part of broader efforts to reduce dependence on a handful of energy-producing countries.
Brazil to establish ETS and announce carbon market alliance
According to TV Globo, Haddad aims to announce the creation of a carbon market alliance during COP30. The envisioned system would allocate credits to low-emission players while requiring high emitters—whether companies or countries—to purchase them.
