Climate Change: Brazil
The question
To ask the Secretary of State for Energy Security and Net Zero, what discussions he has had with his Brazilian counterpart on the eligibility of CPR Verde credits for corresponding adjustments under the Paris Agreement.
Answered by Katie White
Corresponding adjustments are a form of carbon accounting that stop carbon credits from being counted towards more than one target.
They are mandatory under Article 6 of the Paris Agreement when countries trade carbon credits to support achievement of national climate targets (Nationally Determined Contributions).
They are optional in other carbon markets, for example where corporates buy credits for use towards discretionary net zero targets.
In all cases, the decision to apply corresponding adjustments is a sovereign prerogative.
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