Plannet Zero’s Post

Rio de Janeiro has taken a groundbreaking step in the fight against climate change by introducing tax incentives for companies purchasing carbon credits. This move, considered the largest city-level fiscal incentive to carbon markets globally, aims to accelerate carbon emissions reductions in the city. The law allows for tax rebates of up to BRL 60 million annually but is temporary, set to expire in 2030. Rio de Janeiro's ambitious plan seeks to cut carbon emissions by 5% by 2024 and an impressive 20% by 2030 compared to 2017 levels. This initiative aligns with the global trend of voluntary carbon markets (#VCM), where governments are increasingly implementing regulations to support carbon crediting projects. While broader Brazilian VCM legislation remains uncertain, Rio de Janeiro's proactive approach sets a noteworthy example for other regions. #ClimateActionNow #CarbonIncentives #RioDeJaneiroCarbonMarket #SustainableCities #VoluntaryCarbonMarkets