Argentina Senate Approves National Carbon Credit Market Framework
Brazil
Green Climate Fund (GCF) approved two investment vehicles targeting Brazil, totaling up to US$ 1.7 billion. The first will receive US$ 250 million from GCF and will be structured with the Brazilian Development Bank (BNDES) and Brookfield to form a fund of up to US$ 1.3 billion for renewable energy, battery storage, industrial decarbonization, sustainable fuels, green hydrogen, circular economy and nature-based solutions. The second, managed by eB Capital, will have US$ 400 million to invest in companies active in energy storage, biological inputs, irrigation, advanced recycling and energy generation from waste. (GCF)
Ministry of Environment updated the National Official List of Threatened Flora Species, which now includes 3,730 species, up from 3,209 in the 2022 revision. Of the total, 838 are classified as vulnerable, 2,162 as endangered, 728 as critically endangered and two as critically endangered and possibly extinct. Brazil nut (Bertholletia excelsa) and juçara palm (Euterpe edulis) remain classified as vulnerable, while Paraná pine (Araucaria angustifolia) is endangered and Brazilwood (Paubrasilia echinata) is critically endangered. The new list was established by Ordinance GM/MMA No. 1,783/2026, published on October 28th. (Ministry of Environment)
Brazilian Development Bank (BNDES) approved approximately US$ 46.5 million from the Climate Fund for Tree+, a Brazilian bioeconomy company, to restore 22.2 K hectares of degraded land in northern State of Rio de Janeiro, including more than 6.6 K hectares of the Atlantic Forest. The project will have total investment of nearly US$ 72.5 million, to plant 1.9 million native seedlings and adopt crop-livestock-forest integration and agroforestry systems. (BNDES)
Brazilian Institute of Environment and Renewable Natural Resources (Ibama) fined a company in US$ 9.3 million for an alleged attempt to export illegally more than 17 tonnes of shark fins through the Port of Itapoá, State of Santa Catarina. The shipment, declared as frozen sardines and bound for Malaysia, contained fins from blue shark (Prionace glauca) and shortfin mako (Isurus oxyrinchus), a threatened species. Ibama estimates that approximately 5.7 K sharks were killed to obtain the material. (Ibama; Federal Revenue Service)
The Bauru City Council, State of São Paulo, is investigating possible irregularities in the municipal solid waste services concession, estimated at approximately US$ 977.9 million over 30 years. The contract covers collection, recycling, composting, treatment and final disposal of urban waste. Investigations include tender requirements that could restrict competition and the selection of the landfill responsible for receiving the waste. The tender process was suspended by the State Audit Court of São Paulo, while the Processing Commission continues to investigate how the concession was structured. (Bauru City Council)
Sanepar reported the treatment of nearly 457 billion liters of sewage in 2025, preventing the volume from being discharged into rivers and streams. Water quality was classified as good at 87% of the 172 monitoring points in the State of Paraná, up from 81% in the previous survey. The company plans approximately US$ 2.42 billion in investments through 2030 to expand sanitation and maintains actions to restore Permanent Preservation Areas, control erosion and protect springs. (Sanepar)
Federal Court confirmed full protection of the Itans State Natural Monument in Cajueiro da Praia, State of Piauí, and invalidated State Law No. 8588/2025, which had downgraded the conservation unit to a sustainable-use category. The area includes mangroves, restinga ecosystems, archaeological sites and a marine manatee nursery area. The ruling requires enforcement under a full-protection regime, establishes a fine of approximately US$ 186 K for non-compliance and sets March 10th, 2027 as the deadline to complete the management plan. An appeal may still be filed with the Federal Regional Court of the 1st Region. (Federal Prosecution Service)
Netherlands announced US$ 500 million for the Tropical Forest Forever Facility (TFFF), raising announced commitments to US$ 7.8 billion. The mechanism proposed by Brazil aims to establish a US$ 125 billion fund combining sovereign, philanthropic and private capital to compensate countries that conserve or expand tropical forests. At least 20% of the resources received must be allocated to Indigenous Peoples and local communities. (Ministry of Environment)
Petrobras reduced by 23.8% the carbon intensity of sustainable aviation fuel (SAF) produced from corn oil at the Duque de Caxias Refinery, State of Rio de Janeiro. The result was recognized in the ISCC CORSIA recertification and reflected, among other factors, a 29% reduction in the carbon intensity of the hydrogen used in the process. (Petrobras)
The City of Santarém, State of Pará, declared an environmental emergency and banned the use of fire in the municipality for 180 days amid rising fires and deteriorating air quality, classified as “very poor” by the Federal University of Western Pará. The measure allows resources to be mobilized for fire prevention, enforcement and firefighting and complements the drought emergency in effect since October 15th. The city also asked the Civil Police to intensify investigations into suspected criminal fires and identify those responsible. (City of Santarém)
The Ministry of Health reinforced guidance to identify and repor smoke intoxication from vegetation fires and wildfires through the Brazilian Notifiable Diseases Information System (Sinan). The ministry warned of increased respiratory, cardiovascular and neurological problems during periods of greater fire occurrence. Children, older adults, pregnant women, people with cardiorespiratory diseases, Indigenous Peoples, firefighters and rural workers are among the most vulnerable groups. (Ministry of Health)
The Ministry of Finance defined the schedule for companies to begin measuring and reporting emissions under the regulated carbon market. Requirements will apply to operators emitting at least 10 K tonnes of CO₂ equivalent per year. Aluminum, cement, oil and gas, mining, pulp and paper and segments of the steel and chemical industries will enter the first phase in 2027; food and beverages, power generation, refining and other sectors will be incorporated by 2029. The National Allocation Plan, which will establish emissions limits and allowance distribution, is expected to take effect in 2030. (Ministry of Finance)
The Ten-Year Energy Expansion Plan 2036 estimates approximately US$ 26.2 billion in biofuel investments between 2027 and 2036. SAF and green diesel projects are expected to receive approximately US$ 7.2 billion, biomethane US$ 5.7 billion and ethanol from corn and other grains US$ 4.7 billion. Ethanol supply is expected to increase from 41.6 billion to 53.1 billion liters during the period, with corn accounting for 40% of total volume in 2036. (Ministry of Mines and Energy; Energy Research Office)
The Brazilian Securities and Exchange Commission (CVM) opened a public consultation to evaluate the disclosure framework for sustainability-related financial information by publicly traded companies in Brazil. The regulator is seeking evidence to determine whether voluntary adoption of International Sustainability Standards Board standards is sufficient or whether some disclosures should become mandatory again. The general mandatory requirement was removed in 2026 under CVM Resolution No. 244. (CVM)
Latin America
The Senate of Argentina approved, by 60 votes to two, a bill establishing a national regulatory framework for the registration and trading of carbon credits. The proposal creates the National Emissions Reduction Registry, establishes transparency and traceability criteria and provides ten years of tax stability for registered projects. The bill received Senate approval and will now be considered by the Lower House of Congress. (Senate of Argentina)
Aluar, an Argentine aluminum producer, inaugurated the fifth stage of its wind farm in Puerto Madryn, Argentina, raising cumulative investment in the complex to US$ 743 million. The project reached 582 MW and 119 wind turbines, equivalent to approximately 12% of installed wind power capacity in the country. The company estimates approximately 70% of the electricity used in its operations will come from renewable sources. (Aluar)
Government of Bolivia and WWF signed an agreement to structure a Project Finance for Permanence program for protected-area conservation. The mechanism is expected to support 24 national protected areas and four areas in Charagua Iyambae, covering 20.2 million hectares, with long-term planning for management, conservation and financial sustainability. (Ministry of Sustainable Production, Environment and Water; WWF)
Qualitas Energy, an energy investment management agent, secured US$ 286 million in green financing for a portfolio of 259 MW of renewable generation and 840 MWh of battery storage in Chile. The portfolio includes eight hydroelectric, solar and wind assets. Solar, wind and storage projects under construction are expected to begin commercial operations in 2028. (Qualitas Energy)
Green Climate Fund approved a US$ 76.7 million project to improve water security in Bogotá and 33 municipalities in Colombia, of which US$ 45.7 million will be provided by the fund. Resources will finance conservation and restoration of páramos, Andean forests and wetlands, as well as adoption of more climate-resilient and water-efficient production systems by farms. The project is expected to benefit approximately 10.1 million people. (GCF)
Ministry of Environment of Colombia repealed Resolution No. 0961/2026, which had declared the Amazon biome a permanent renewable natural resources reserve. According to the ministry, prior consultation had not been completed with potentially affected Black, Afro-Colombian, Raizal and Palenquero communities. The ministry said other legal, judicial and administrative restrictions for protection of the Amazon remain in force. (Ministry of Environment)
Enka, a Colombian recycling company, approved investments of more than US$ 15 million to build its third bottle-to-bottle PET recycling plant and install solar generation in Colombia. The new unit will have capacity of 16.5 K tonnes/year of food-contact recycled resin and increase demand for post-consumer PET bottles. The company estimates that approximately 200 K families depend on the recycling chain in the country. (Enka)
Green Climate Fund approved the Transformation Pathways Initiative, a US$ 720 million program to finance industrial decarbonization and climate-resilient agrifood systems in ten emerging markets. GCF will provide US$ 187 million and the remainder is expected to come from co-financing. In Latin America, the initiative will cover Ecuador, Mexico, Peru and Dominican Republic, with direct loans to companies and projects and indirect financing to small and medium-sized enterprises. (GCF)
Green Climate Fund approved US$ 85.3 million for Mexico to reinvest payments for forest emission reductions achieved in 2018 and 2019. Resources will be allocated in Chiapas, Guerrero, Jalisco, Michoacán, Oaxaca, Quintana Roo and Yucatán, focusing on forest conservation, silvopastoral systems, regenerative livestock farming, payments for environmental services and deforestation-free supply chains. The project is estimated to avoid 13.2 million tonnes of CO₂ equivalent. (GCF; FAO)
Eco-Forestal II Investment Fund began placement of US$ 20 million in bonds in Paraguay. The vehicle, managed by Cadiem, will invest in eucalyptus plantations in Caazapá for timber production combined with a silvopastoral system. The fund may cover between 900 and 4 K hectares and will have a ten-year term. (Asunción Stock Exchange; Cadiem)
UTE, the state-owned power utility of Uruguay, announced the development of two renewable energy storage parks in San Gregorio and Sarandí del Yi. The company also began development of its first solar parks and aims to reach 500 MW of installed photovoltaic capacity during the current five-year period, while expanding high-voltage transmission infrastructure. (UTE; Presidency of Uruguay)
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