Brazil Deals Blow to Schwarzenegger-Championed Carbon Trade
- Move to import emissions credits would cut California costs
- Brazil national government favors different forest protection
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Brazil damped hopes that an international carbon trade supported by Arnold Schwarzenegger five years ago will go ahead as South America’s biggest economy has no intention of exporting credits.
Securities generated by protecting the Amazon rain forest will be needed by Brazil to meet its own emission-reduction targets and won’t be sold to another country or state, Carlos Klink, secretary of the climate change unit at the nation’s environment ministry, said Wednesday in an interview in London. California is considering importing credits from Brazil’s Acre state to comply with environmental rules at home, its Air Resources Board said Oct. 19 in a document.