Brazil Proposes Carbon Credits Swap

Brazil is trying to offset carbon emissions caused by the 2014 Soccer World Cup it is hosting in June by offering owners of United Nations-backed carbon credits to swap them for publicity during the games, according to Reuters.



Carbon emissions generated by construction, travel and other activities related to hosting the events are estimated at over 2.7 million metric tons.



The World Cup begins June 12 and Brazil‘s Environment Ministry would like owners of credits to exchange them for publicity in official documents of the event.



The country is spending $11.6 billion to prepare for the tournament and does not plan to buy offsets in the market.



The government will accept only certified emission reductions (CERs) from Brazil-based projects of the U.’s Clean Development Mechanisms (CDMs).



Companies that decide to join the program will have to file a request for voluntary cancellation of the CERs with the executive board of the CDM.



Emissions in the previous Cup, in South Africa, stood at around 1.7 million tons.