Carbon market grows in Brazil ahead of expected regulation in Glasgow Environmentalists worry about Brazil’s willingness to hit reduction targets and the credibility of government-backed trading schemes Share Decarbonisation credits are now traded by biofuels companies on B3, the Brazilian stock exchange (image: Alamy) Chinese power generation company China Three Gorges (CTG) Brasil recently announced the “neutralisation” of its carbon emissions. The goal was achieved, among other things, through the purchase of over 8,000 carbon credits for a conservation project in Vale do Jari, Amapá state, which protects an area of 200,000 hectares. The purchase helps the company mitigate the environmental impact of projects such as the São Manoel hydroelectric plant on the border between Pará and Mato Grosso, which came into operation in 2018 after being fiercely questioned by environmentalists and indigenous groups. The Chinese company expects the credits to completely offset its emissions by 2022, estimated at 1,700 tons of CO² per year.