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Argentina promotes law to promote and regulate carbon markets

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Argentina promotes law to promote and regulate carbon markets

The Argentine Carbon Roundtable has presented a bill to the Parliament of the South American country aimed at promoting, through a regulatory framework, carbon markets.

The invoice for “minimum budgets for the implementation of greenhouse gas mitigation projects” aims to establish a comprehensive and transparent framework for the adequate management of carbon credits generated in Argentina.

The initiative is promoted by the Argentine Carbon Round Table, composed of companies, institutions and people from the value chain carbon markets in the South American country.

This platform brings together non-governmental actors carbon markets, which include actors in supply, demand, certification and provision of services associated with carbon projects.

As the Carbon Roundtable indicates in a press release, Argentina has participated since 2005 in both regulated and voluntary markets with the marketing of carbon credits generated by 45 certified emissions capture and reduction projects.

“THE creation of a legal and transparent environment and the legal security it offers, both to the owner and the developer as well as to the purchasers 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 said Juan Pedro Cano, coordinator of the Argentine Carbon Roundtable.

Cano stated that “Argentina has great potential not only to meet its international commitments through traceability mechanisms, but also to be a provider of emissions reductions for the world.”

According to the official, if in Argentina emissions capture and reduction projects were developed and certified in only 10% of the country’s agricultural and forestry area, the marketing of carbon certificates or credits generated by these projects could amount to between 250 and 350 million dollars per year.

“If this calculation is carried out 50% of the agricultural area and forestry, would represent between 1,100 and 1,750 million dollars per year,” he stressed.

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