The Argentine Carbon Roundtable presented a bill to the Parliament of the South American country to promote, through a regulatory framework, carbon markets.
The bill of “minimum budgets for the implementation of greenhouse gas mitigation projects” seeks to establish a comprehensive and transparent framework for adequate management of carbon credits generated in Argentina.
The initiative is promoted by the Argentine Carbon Roundtable, made up of companies, institutions and people from the value chain of the carbon markets of the South American country.
This platform brings together the non-governmental actors of carbon markets, which includes actors in supply, demand, certification and the provision of services associated with carbon projects.
As indicated by the Carbon Roundtable in a statement, Argentina has participated since 2005 in both regulated markets and voluntary markets with the commercialization of carbon credits generated by 45 certified emissions capture and reduction projects.
“The creation of a legal and transparent environment and the legal security that it provides, both for the owner and the developer as well as for the acquirers of carbon credits and other actors who voluntarily choose to get involved in this area, will position Argentina as an attractive destination for investments in this sector” he stated. Juan Pedro Cano, coordinator of the Argentine Carbon Roundtable.
Cano stated that “Argentina has great potential to not only meet its international commitments through traceable mechanisms, but also to be a provider of emissions reductions to the world.”
According to the manager, if in Argentina projects to capture and reduce emissions were developed and certified in only 10% of the country’s agricultural and forestry area, the commercialization of the certificates or carbon credits generated by these projects could amount to between 250 and 350 million dollars annually.
“If this calculation is carried out 50% of the agricultural area and forestry, would represent between 1,100 and 1,750 million dollars annually,” he noted. EFECOM
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