{"id":95751,"date":"2025-09-12T23:05:05","date_gmt":"2025-09-13T02:05:05","guid":{"rendered":"https:\/\/murray.adv.br\/?p=95751"},"modified":"2025-09-12T23:05:38","modified_gmt":"2025-09-13T02:05:38","slug":"ministry-of-finance-proposes-global-coalition-for-carbon-market","status":"publish","type":"post","link":"https:\/\/murray.adv.br\/en\/ministry-of-finance-proposes-global-coalition-for-carbon-market\/","title":{"rendered":"Ministry of Finance proposes global coalition for carbon market"},"content":{"rendered":"<section class=\"content--header\">\n<div class=\"row content-head non-featured \">\n<div class=\"title\">\n<h6 class=\"content-head__title\" style=\"text-align: center\"><strong><em>Plan calls for alliance with shared emissions cap that would be gradually reduced, offering more favorable criteria for poorer countries<\/em><\/strong><\/h6>\n<\/div>\n<\/div>\n<div class=\"content__signa-share\">\n<div class=\"content__signature\">\n<div class=\"content-publication-data\">\n<div class=\"content-publication-data__text\">\n<div class=\"content-publication-data__from\"><\/div>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p class=\"content-publication-data__updated\">09\/12\/2025<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"content__share-bar-container\"><\/div>\n<\/div>\n<\/section>\n<div id=\"mc-article-body\" class=\"mc-article-body \">\n<article>\n<div class=\"no-paywall\">\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"98\" data-block-id=\"2\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\">The Ministry of Finance\u2019s main proposal for\u00a0<a class=\"\" href=\"https:\/\/valorinternational.globo.com\/cop30-brazil\/\" data-mrf-link=\"https:\/\/valorinternational.globo.com\/cop30-brazil\/\">COP30<\/a>, to be held in Bel\u00e9m in November, is the creation of a coalition of countries willing to integrate their carbon markets. The alliance would operate with a shared carbon emissions cap among participants, which would be progressively reduced to encourage the decarbonization of economies. It would include fairness criteria for poorer nations and establish a permanent mechanism for channeling resources to help them adapt to climate impacts. The idea has been discussed with the European Union, China, and other countries and could become one of the major outcomes of COP30.<\/p>\n<\/div>\n<div class=\"wall protected-content\">\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"79\" data-block-id=\"3\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\">\u201cWe believe the proposal is effective because it establishes an emissions cap; fair, because it takes per capita income criteria into account; and politically viable, because it does not require agreement among 200 countries to move forward. All that is needed is a coalition strong enough to make it happen,\u201d says\u00a0<strong>Rafael Dubeux<\/strong>, deputy executive secretary of the Ministry of Finance. \u201cIf it manages to bring together Brazil, the European Union, and China, it may encourage others to join.\u201d<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"81\" data-block-id=\"4\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\">The Ministry of Finance has been developing the proposal internally and in coordination with other ministries. Mr. Dubeux was invited to present the idea to a group of economists led by Brazilian\u00a0<a class=\"\" href=\"https:\/\/valorinternational.globo.com\/cop30-brazil\/news\/2025\/09\/08\/scheinkman-joins-leading-economists-in-search-for-climate-crisis-solutions.ghtml\" data-mrf-link=\"https:\/\/valorinternational.globo.com\/cop30-brazil\/news\/2025\/09\/08\/scheinkman-joins-leading-economists-in-search-for-climate-crisis-solutions.ghtml\">Jos\u00e9 Scheinkman<\/a>, who was asked to form a team to advise COP30 President Andr\u00e9 Corr\u00eaa do Lago. \u201cWe had a conversation with Scheinkman and other economists, such as MIT professor Catherine Wolfram.\u201d Ms. Wolfram leads a group studying how to make the coalition feasible and includes several Brazilian economists.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"70\" data-block-id=\"5\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\">The Brazilian government and the ministry headed by\u00a0<strong>Fernando Haddad<\/strong>\u00a0hope the proposal will gain traction in Bel\u00e9m. \u201cWe expect to have a joint declaration from countries at COP30 to establish the coalition,\u201d says Mr. Dubeux. In a recent tweet, European Commission President Ursula von der Leyen expressed support for COP30 in Bel\u00e9m, writing: \u201cWith Brazil\u2019s leadership in carbon markets, we must make Bel\u00e9m a true milestone for the planet.\u201d<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"19\" data-block-id=\"6\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\">Below are the main points from Mr. Dubeux\u2019s interview with\u00a0<strong>Valor<\/strong>, in which he explains the proposal in detail:<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"2\" data-block-id=\"7\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\"><strong>Day 1<\/strong><\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"75\" data-block-id=\"8\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\">On his first day in office, Minister Fernando Haddad asked me to begin working with the ministry team on what would later become the Ecological Transformation Plan. The goal was to reorient the Brazilian economy toward a low-carbon model that is more distributive and driven by technological innovation. It is worth noting that finance ministers typically take office facing a series of fiscal emergencies, and long-term strategic planning is rarely a priority at the outset.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"50\" data-block-id=\"9\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\">We launched a collective effort involving teams from the Ministry of Finance, the Internal Revenue Service, the Economic Policy Secretariat, the Economic Reform Secretariat, and the ministries of Environment, Mines and Energy, and Trade, Industry, and Services. We structured the agenda around three main objectives: innovation, sustainability, and income distribution.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"5\" data-block-id=\"10\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\"><strong>The Ministry of Finance\u2019s role<\/strong><\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"42\" data-block-id=\"12\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\">The Ministry of Finance\u2019s core responsibilities include managing GDP, inflation, unemployment, and other macroeconomic indicators, as well as improving the business environment for investment through tax, insurance, and credit reform. These initiatives form the prerequisites for development. But they are not enough.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"71\" data-block-id=\"13\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\">Minister Haddad argues that, in addition to ensuring macroeconomic balance and improving the business environment, the Ministry of Finance and the government must open a third front: developing a long-term strategy for a growth model that replaces a reliance on exporting commodities without added value with one rooted in innovation; that decouples GDP growth from environmental degradation; and that distributes income more equitably, in light of Brazil\u2019s history of profound inequality.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"51\" data-block-id=\"14\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\">Brazil holds historical legitimacy on this agenda. It hosted the 1992 Rio Summit, has a power generation mix primarily based on hydroelectricity, has used ethanol on a large scale since the 1970s, possesses the world\u2019s richest biodiversity, has invested heavily in renewable energy, and has combined economic and climate policy initiatives.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"2\" data-block-id=\"15\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\"><strong>Socio-environmental reglobalization<\/strong><\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"44\" data-block-id=\"16\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\">By early 2024, we were already discussing what proposals Brazil, as host of the G20 and COP30, could present to help shape a financial architecture capable of steering global economic growth toward a low-carbon model. We have a role to play in this debate.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"68\" data-block-id=\"17\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\">The minister argues that while globalization in recent decades has brought economic efficiency to certain value chains, the time has come for \u201csocio-environmental reglobalization.\u201d This means adding a new layer to international governance so that, alongside economic efficiency, global integration also incorporates social and environmental considerations. The goal is not to dismantle globalization, but to create a new model of productive integration that fully accounts for these elements.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"4\" data-block-id=\"18\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\"><strong>Fund for tropical forests<\/strong><\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"46\" data-block-id=\"19\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\">As we prepared proposals for COP, we realized that, alongside the key topics already under discussion\u2014such as NDCs (countries\u2019 climate commitments), adaptation, and climate justice\u2014there was a gap. What was missing was a proposal with a stronger economic focus at the heart of the climate challenge.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"75\" data-block-id=\"21\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\">We had already developed a proposal with the Ministry of the Environment for the Tropical Forest Forever Facility (TFFF), a fund for tropical forests being launched by Brazil. If successful, it will become one of the most significant contributions of the COP30 process. Concrete in its design, it aims to generate a permanent flow of billions of dollars for developing countries that preserve tropical forests\u2014a fund even larger than the resources of many multilateral banks.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"60\" data-block-id=\"22\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\">The TFFF is set to become one of the largest global funds ever created. Our goal is for implementation to begin at COP30, with initial contributions coming from sovereign wealth funds, governments, central bank reserves, and philanthropic organizations. Yet, as crucial as the TFFF may be, it does not directly tackle the core issue of climate change: greenhouse gas emissions.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"2\" data-block-id=\"23\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\"><strong>Unrealistic expectations<\/strong><\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"42\" data-block-id=\"24\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\">Some observers, in my view, hold unrealistic expectations that the \u201ctransition away\u201d from fossil fuels approved at COP28 will prompt some countries to announce they will stop using or producing oil by 2030 or 2040. I do not believe that will happen.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"51\" data-block-id=\"25\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\">What we can do is create mechanisms that enable an orderly phase-out of fossil fuels. This can occur once regulatory and financial frameworks induce the transition, either because low-carbon alternatives become more competitive or because continuing to exploit oil under current conditions becomes prohibitively expensive through carbon pricing or other regulations.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"2\" data-block-id=\"26\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\"><strong>Four criteria<\/strong><\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"94\" data-block-id=\"27\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\">In the debate over decarbonization, four main criteria typically emerge. First, which producers face the highest and lowest costs? Those with the highest costs would likely be the first to halt production. Second, which producers have the highest and lowest carbon intensity per barrel? Third, per capita income: it makes sense for wealthy nations to cut emissions before poorer ones. Why should Nigeria stop producing oil while Canada continues to do so? That would not be fair. Fourth, energy security: countries must also weigh the stability of their energy supplies when planning emission reductions.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"4\" data-block-id=\"29\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\"><strong>A global emissions cap<\/strong><\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"61\" data-block-id=\"30\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\">Given these criteria, how can we design an organized transition that reduces emissions quickly while ensuring fairness and equity? At the Ministry of Finance, in collaboration with the Ministry of the Environment, we developed the idea of creating a global emissions cap\u2014one that would decline over time. Setting such a limit for the economy is fundamental to a regulated carbon market.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"2\" data-block-id=\"31\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\"><strong>Market integration<\/strong><\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"52\" data-block-id=\"32\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\">Any activity that generates emissions would need to purchase allowances under this cap. As the cap decreases over time, the cost of these allowances would rise, creating a financial incentive for companies to decarbonize. We would start with a cap close to current emission levels and, ideally, reach net-zero emissions by 2050.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"61\" data-block-id=\"33\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\">The most effective way to tackle climate change globally would be through a carbon price established by this emissions cap\u2014a \u201ccap-and-trade\u201d system that gradually declines to zero by 2050. But such a system would require the approval of nearly 200 countries participating in the COPs. We already know that it is not realistic; one country even withdrew from the Paris Agreement.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"3\" data-block-id=\"34\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\"><strong>The Open Coalition<\/strong><\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"39\" data-block-id=\"35\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\">We wanted to present a proposal that reflects Brazil\u2019s ambition while remaining politically feasible. That led to the idea of creating the Open Coalition for Integrating Carbon Markets. The central goal is to bring together the world\u2019s largest economies.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"3\" data-block-id=\"36\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\"><strong>Three major objectives<\/strong><\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"46\" data-block-id=\"37\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\">In our view, the proposal must achieve three objectives at once: it must be effective in reducing emissions, fair, and politically viable. The solution we found is the Open Coalition: a group of countries sharing a common emissions cap, which would be reduced gradually over time.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"3\" data-block-id=\"38\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\"><strong>Criteria for quotas<\/strong><\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"49\" data-block-id=\"39\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\">Each country\u2019s quota would be determined using several factors. Population size is one\u2014China and Luxembourg cannot receive equal quotas. Per capita income is another factor, ensuring social justice: higher-income countries would have stricter quotas, giving developing countries room to emit more while requiring wealthier nations to accelerate their decarbonization.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"31\" data-block-id=\"41\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\">Finally, there must be a border adjustment mechanism\u2014different from the European Union\u2019s CBAM (which imposes a carbon price on emissions embedded in imported products)\u2014to balance trade considerations fairly across coalition members.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"2\" data-block-id=\"42\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\"><strong>Border adjustment<\/strong><\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"57\" data-block-id=\"43\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\">How does the EU\u2019s proposal differ from ours? First, governance: the CBAM is unilaterally established by the EU, whereas in our coalition, all participants would share in governance. Only those unwilling to price carbon would remain outside\u2014and they would bear the consequences. Moreover, our proposal would not create a financial flow from poorer nations to wealthier ones.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"3\" data-block-id=\"44\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\"><strong>Money for adaptation<\/strong><\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"34\" data-block-id=\"45\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\">We propose directing part of the revenue collected from the carbon market and border adjustment toward climate adaptation efforts in developing countries. This would create a permanent financial flow to address the climate crisis.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"77\" data-block-id=\"46\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\">In summary, the proposal is effective. It imposes a cap, it is fair because it incorporates a per capita income mechanism, and it is politically viable because it does not require consensus among 200 countries. All that is needed is a coalition strong enough to move forward. If it includes Brazil, the EU, and China, it could encourage others to join. Another relevant player is California, which\u2014if it were a country\u2014would rank as the world\u2019s fourth-largest economy.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"3\" data-block-id=\"47\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\"><strong>Social justice mechanisms<\/strong><\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"25\" data-block-id=\"48\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\">We are considering differentiated border adjustments based on per capita income\u2014countries with lower income levels could be exempt from paying or required to pay less.<\/p>\n<p data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\">*By\u00a0Daniela Chiaretti\u00a0\u2014 S\u00e3o Paulo<\/p>\n<p data-track-category=\"Link no Texto\" data-track-links=\"\" data-mrf-recirculation=\"Article links\">Source: Valor International<\/p>\n<p>https:\/\/valorinternational.globo.com\/<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Plan calls for alliance with shared emissions cap that would be gradually reduced, offering more favorable criteria for poorer countries &nbsp; &nbsp; 09\/12\/2025 The Ministry of Finance\u2019s main proposal for\u00a0COP30, to be held in Bel\u00e9m in November, is the creation of a coalition of countries willing to integrate their carbon markets. The alliance would operate [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8106],"tags":[26415,26414],"class_list":["post-95751","post","type-post","status-publish","format-standard","hentry","category-murray-news","tag-global-coalition-for-carbon-market","tag-ministry-of-finance-proposes"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ministry of Finance proposes global coalition for carbon market - Murray Advogados<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/murray.adv.br\/en\/ministry-of-finance-proposes-global-coalition-for-carbon-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ministry of Finance proposes global coalition for carbon market - Murray Advogados\" \/>\n<meta property=\"og:description\" content=\"Plan calls for alliance with shared emissions cap that would be gradually reduced, offering more favorable criteria for poorer countries &nbsp; &nbsp; 09\/12\/2025 The Ministry of Finance\u2019s main proposal for\u00a0COP30, to be held in Bel\u00e9m in November, is the creation of a coalition of countries willing to integrate their carbon markets. 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