“Agribusiness plays a strategic role. The sector can generate credits from practices such as regenerative agriculture and crop–livestock–forestry integration…”
Cristina Fróes de Borja Reis is the Extraordinary Secretary for the Carbon Market at the Ministry of Finance of Brazil. She holds a degree in Economics from the University of São Paulo (USP), a master’s and PhD in Economics from the Federal University of Rio de Janeiro (UFRJ), and completed a postdoctoral fellowship under the International Post-Doc Initiative/Marie Curie Actions at the Technical University of Berlin.
AgriBrasilis – How does Brazil intend to ensure leadership in the carbon market?
Cristina Fróes – Brazil seeks to ensure leadership in the carbon market through a combination of a robust regulatory framework, economic incentives for decarbonization, and environmental credibility. The implementation of the Brazilian Emissions Trading System (SBCE) is the central pillar of this strategy, establishing mandatory decarbonization targets for major emitters. The idea is to transform decarbonization into a driver of development, linking the carbon market to a broader agenda of attracting investment, technological innovation, job creation, reducing inequalities, and strengthening the country’s competitiveness within the Ecological Transformation Plan.
AgriBrasilis – What is the timeline for the SBCE implementation?
Cristina Fróes – The SBCE design is progressive and prudent. First comes institutional structuring and secondary regulation, followed by the implementation of the MRV system (Monitoring, Reporting, and Verification) and a pilot phase with regulated sectors. Only afterward will the market fully enter into force, with reduction targets and carbon pricing. This gradual approach ensures legal certainty, predictability for economic agents, and adequate time for adaptation, starting with major emitters and expanding coverage responsibly.
AgriBrasilis – How will the SBCE promote the decarbonization of the economy?
Cristina Fróes – By creating a price for carbon, the SBCE establishes a clear economic signal: emitting will carry a cost, while decarbonizing becomes a source of revenue. This encourages investment in energy efficiency, the replacement of carbon-intensive processes, the adoption of new technologies, and the appreciation of nature-based solutions. In practice, the system rewards those who reduce emissions and innovate, ensuring that business and financial decisions incorporate carbon as a central variable and transforming the climate transition into a competitive advantage.
AgriBrasilis – How will the system ensure the credibility of carbon credits, avoiding double counting and greenwashing?
Cristina Fróes – Credibility is a structural element of the Brazilian model. The system provides recognized methodologies, public asset registries, standardized MRV procedures, interoperability with international platforms, and a clear separation between the regulated and voluntary markets. This set of safeguards prevents double counting, reduces the risks of greenwashing, and increases the confidence of investors, producers, and credit buyers, ensuring the environmental integrity of the market.
AgriBrasilis – What will be the role of agribusiness in this market?
Cristina Fróes – Agribusiness plays a strategic role. The sector can generate credits from practices such as regenerative agriculture, crop-livestock-forestry integration, pasture restoration, and the use of bioinputs. This opens new sources of revenue for rural producers and positions Brazil as a potential global leader in the supply of environmental assets, combining food production with the provision of ecosystem services.
AgriBrasilis – What advances did COP30 bring in relation to the carbon market?
Cristina Fróes – COP30 consolidated Brazil’s role as part of the solution to global emission-reduction challenges. The Brazilian government led discussions on the creation of a coalition of carbon markets to advance interoperability among regulated systems, aiming to increase liquidity, harmonize standards, and scale up climate finance. This agenda reinforces Brazil’s role as a bridge between emerging economies, the financial sector, and producers, connecting the carbon market with economic development and climate justice.