Carbon Market Projects: Status and Contribution to GHG Emission Reduction in Brazil
André Luis Rocha de Souza, José Célio Silveira Andrade, Antonio Costa Silva Junior, Sonia Maria Silva Gomes

Abstract
This paper aims to verify current status of project activities in the carbon markets in Brazil. To this end, an empirical database was constructed with secondary data collected from the Project Design Documents (PDD) of carbon market projects undergoing approval in Brazil on June 30th, 2011. The results of this study show the high prevalence of regulated carbon market projects compared to the voluntary carbon market. In terms of the type of GHG reduced, carbon dioxide (CO2) is currently the most represented in both the regulated and voluntary markets (67% and 59% respectively). Large and small hydroelectric plants are responsible for 61% of renewable energy generation in the regulated market and 99% in the voluntary one. Finally, we recommend that future studies compare the Brazilian experience to those of the two other main host countries for regulated and voluntary carbon market projects, namely China and India.

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