Perspectives for the Adoption of Emissions Monitoring Systems (MRV) and Economic Instruments

Perspectives for the Adoption of Emissions Monitoring Systems (MRV) and Economic Instruments

within the scope of the Brazilian National Policy on Climate Change

FGVces developed, in partnership with the Ministry of Economy (at the time Ministry of Finance) studies on (i) requirements for a National System for Monitoring, Reporting and Verification (MRV) of Greenhouse Gas Emissions and (ii) instruments under the National Policy on Climate Change, mainly taxation on emissions and emissions trading systems (cap-and-trade).

Publications and Reports

Requirements for a National System for Monitoring, Reporting and Verifying Greenhouse Gas Emissions - Vol. 1

The study is part of the project “Elements for a Carbon Market”, which seeks to understand the functioning and processes for establishing an economic instrument for the pricing of greenhouse gas (GHG) emissions, more specifically the Carbon Market . Such a mechanism could eventually become an important tool for Brazil in reaching national mitigation targets by 2020, as well as future international commitments aimed at reducing GHG emissions. In this context, Volume I (Requirements for a National System for Monitoring, Reporting and Verifying Greenhouse Gas Emissions) directs the analysis focus to an extremely valuable element in the design and conduction of emissions pricing programs, having a vital role for the carbon markets that already exist in the world, namely: Monitoring, Reporting and Verification (MRV) of GHG emissions.

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National Greenhouse Gas Emissions Reporting System - Vol. 2

Reporting GHG emissions accurately, efficiently and reliably is essential for the proper functioning of an MRV program inserted in an emission allowance trading system. The main characteristics of a GHG emissions reporting system for a carbon market in Brazil are the focus of this publication.

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Elements for the Construction of an Emissions Trading System - Vol. 3

The last part of the study presents the concepts for understanding the main elements for the construction and operation of a cap-and-trade program, its hypotheses and limitations, highlighting possible devices that should be considered for the Brazilian case. It also brings lessons observed in international initiatives and seeks to evaluate, in a preliminary way, the adequacy of an emissions trading system for Brazil.

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Positive Incentives and Greenhouse Gas Emissions Reporting Programs

The present work aims to study the possible interfaces between positive incentives and GHG emissions reporting programs, also referred to, throughout the study, as MRV systems (Monitoring, Reporting and Verification). In particular, we seek to understand how these programs can be used in performance evaluations of actions that, through incentives granted, aim to achieve a reduction in greenhouse gas (GHG) emissions. Two types of positive incentives are addressed: tax incentives (exemptions, rate reductions, presumed credits, etc.) and credit incentives (centered on public funding).

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Application of Intensity Indicators in Economic Instruments

The main objective of this report is to deepen the analysis on the role of intensity indicators that are relevant to the design and implementation of economic instruments aimed at reducing GHG emissions, while recognizing that the concept of intensity can be incorporated in different contexts, assuming different purposes. In the context of climate change, in addition to emission intensity indicators (carbon intensity indicators), energy intensity indicators are equally important.

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