Law 15.042 which establishes the Brazilian Greenhouse Gas Emissions Trading System (SBCE)

The Law establishes the Brazilian Greenhouse Gas Emissions Trading System (SBCE), and states five phases: 

• Phase I, for regulation of the SBCE (12-24 months)
• Phase II, to operationalise emissions reporting for regulated entities (12 months).
• Phase III, to implement the obligation to submit monitoring plans and emissions reporting (24 months).
  • Phase IV, which begins with the promulgation of the first National Allocation Plan, with free allowances and the development of the secondary market for the SBCE.
• Phase V, which consists of the full implementation of the SBCE at the end of the first National Allocation Plan, including the first auction Brazilian Carbon Allowances.

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