Brazil eyes China as buyer of carbon credits, targets accord by COP31

Brazil is exploring a bilateral carbon market agreement with China, potentially to be announced at COP31 in November, while assessing whether China could become a buyer of Brazilian ITMOs. Brazil is also considering accelerating its original 2031–2035 timeline for establishing international credit verification and exports, following industry requests. Separately, Brazil, China and the EU are advancing a carbon-market coalition covering roughly 42% of global emissions. The 11-member group is developing a work plan to gradually improve compatibility among trading systems, with mutual recognition of carbon assets potentially achievable within a decade.
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