Brazil

"Brazil will strive to achieve its NDC through domestic measures to be coordinated and implemented by the federal government. The Brazilian government does not rule out the use of internationally transferred mitigation outcomes (ITMOs), as defined in Article 6 of the Paris Agreement, to complement national efforts in the achievement of the Brazilian NDC. Brazil can also consider the possibility of transferring international mitigation outcomes generated within its national territory. Any international transfers of mitigation outcomes obtained within the Brazilian territory will be subject to prior and formal consent by the federal government, in accordance with the terms and conditions, including legislation, to be nationally developed to that end."

The Government of Brazil estimates that it is possible to raise the ambition of its national mitigation actions beyond the base level of 59 percent below 2005 levels by 2035 or 1.05 GtCO2e, as proposed in section 1b, through the international transfer of mitigation results (ITMOs) generated in its territory. This estimate is based on the opportunity to attract timely and large- scale investments in activities and new technologies with significant abatement and opportunity costs, while also enabling the country to leverage and accelerate its trajectory towards net-zero emissions. These are, therefore, efforts that are the responsibility of Brazil, given its common but differentiated responsibilities and respective capabilities, in light of national circumstances and the parameters of justice and equity, as detailed in section 6. Any international transfers of mitigation results obtained in Brazilian territory will be subject to the prior and formal authorization by the federal government, strictly observing the appropriate terms and conditions, including the applicable regulations or those to be developed nationally for this purpose, and will also be subject to the corresponding adjustments and reporting in accordance with articles 6 and 13 of the Paris Agreement and the decisions of the Conference of the Parties serving as the Meeting of the Parties to the Paris Agreement (CMA) under the UNFCCC. In these terms and taking into account the urgency of promoting long term investments in reducing and removing emissions, such transfers may be authorized up to the level of 59 percent below 2005 levels by 2035 or 1.05 GtCO2e, as indicated in section 1b, followed by the necessary corresponding adjustments.