On November 28, 2019, were published the Decrees No. 10,145/2019 and No. 10,143/2019 ("Decrees"), regulating the Interministerial Committee on Climate Change – CIM and establishing new priorities for the application of resources of the National Fund on Climate Change – FNMC, respectively.
The main purpose of the Decrees is to enable the economic instruments foreseen in the Climate Change policies and effectively implement such policies.
The CIM will be in charge for:
- drafting, implementing, financing, monitoring, evaluating and updating policies and actions related to climate change, including the Nationally Determined Contributions – NDC;
- enabling the implementation of economic and financing mechanisms of Climate Change policies, aiming the appropriate application of resources and effectiveness of the policies.
The Ministry of Environment will be responsible for establishing a strategy for the development of low greenhouse gas emissions.
The new priority projects for FNMC financing are those that mitigate climate change and its effects in the following sectors:
- environmentally appropriate final disposal of waste;
- collection of biogas or energy recovery of landfills and domestic wastewater;
- basic sanitation;
- urban mobility;
- control and monitoring of pollution;
- creation, recovery and expansion of urban green areas.
Veirano's environmental team has expertise on this subject and is available to provide further clarification.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.