Banca de DEFESA: Rodrigo Fernandes das Neves

Uma banca de DEFESA de DOUTORADO foi cadastrada pelo programa.
STUDENT : Rodrigo Fernandes das Neves
DATE: 27/09/2024
TIME: 10:00
LOCAL: https://meet.google.com/zhn-czzw-fah
TITLE:

BLOCKCHAIN AND THE JURISDICTIONAL REDD+ VOLUNTARY CARBON CREDIT MARKET IN THE ACRE STATE ENVIRONMENTAL SERVICES INCENTIVE SYSTEM

KEY WORDS:

REDD+; SISA; Acre; Blockchain; Carbon Market

PAGES: 299
BIG AREA: Ciências Sociais Aplicadas
AREA: Direito
SUMMARY:

This thesis investigates the intersection between the carbon market and blockchain technology, its consequent impact on climate mitigation initiatives, and the protection of the Amazon rainforest, with a particular focus on Acre’s State System of Incentives for Environmental Services (SISA). A qualitative approach is employed, combining case study analysis with a literature and document review. Initially, the study aims to understand international negotiations related to climate and forests, whose unification challenges — partly due to Brazil's stance — delayed the implementation of economic incentive mechanisms for reducing deforestation. The creation process of the Reducing Emissions from Deforestation and Forest Degradation (REDD+) mechanism is described, highlighting the advantages and disadvantages of the jurisdictional approach. The research examines the sociopolitical context of Acre’s pioneering efforts in this area, emphasizing the relationship between the rubber tapper movement and international environmental initiatives, the reasons behind the state's leadership, and the legal and governance structure established under SISA. Additionally, the concept of "trust" is reviewed, emphasizing it as a structural element for the functioning of the economy, particularly in complex contemporary societies. The genesis of blockchain is investigated, along with its conceptualization, typology, consensus mechanisms, and governance structures. The study shows the correlation between trust and cryptographic decentralized database technology (blockchain), which fundamentally alters methods of recording and accounting, affecting the role of "trusted third parties," such as banks, governments, notary offices, and others, as intermediaries of trust. Given its intrinsic characteristics of immutability and security, blockchain technology has the potential to reduce transaction costs, increase transparency, and promote greater efficiency in the market. The study also presents the rationale for internalizing the cost of greenhouse gas emissions into the economy, in the form of "carbon pricing," systematically reviewing the instruments available for this purpose, such as emissions trading schemes (ETS/cap-and-trade), carbon taxes, subsidies to strategic sectors, and the voluntary/regulated carbon markets as a form of positive economic incentive. An illustrative schematic map of carbon pricing mechanisms is proposed, indicating the topographical position of the voluntary REDD+ market among mitigation strategies, contributing to a referential typology and classification of these instruments, with the aim of enhancing public debate on the subject. It is argued that the Voluntary Carbon Market has flaws and gaps, such as fragmentation, risks to accounting integrity, and high transaction costs, in which context blockchain technology presents potential solutions to these challenges. Furthermore, the main use cases of blockchain technology in the voluntary carbon market are examined, such as tokenization, meta-registry, smart contracts, D-MRV, marketplace, escrow account, due diligence automation, among others. The practical examples analyzed and described in the research show the need for greater maturity in the implementation of blockchain technology in the carbon market, considering that the crypto sector has shown a limited understanding of its complexity. Thus, it is shown that holistic and progressive solutions must be promoted for the integration of blockchain into the carbon market, with the goal of developing "end-to-end" solutions encompassing the entire market and the entire process of generating and transacting carbon credits. It is argued that there are emerging cases of blockchain use beyond tokenization in the potential adoption of the technology for transactions in the voluntary market within the scope of Acre’s State System of Incentives for Environmental Services. In conclusion, to fully realize the potential of blockchain technology within SISA, it is necessary to adopt an incremental implementation strategy, with the development of a credible and comprehensive framework, including interoperability with legacy registries and electronic documentation of the entire lifecycle of the credits, thereby adding a new layer of innovation to SISA. This approach could enhance the environmental and accounting integrity of the system, offering broader access to climate finance opportunities in the voluntary market, while simultaneously promoting greater transparency, reduced transaction costs, and equitable benefit-sharing for the Amazon, the people who inhabit it, and ultimately, the entire planet.

COMMITTEE MEMBERS:
Externo à Instituição - PAUL CORDOVA VINUEZA - UCE
Externo à Instituição - EUFRAN FERREIRA DO AMARAL - EMBRAPA
Presidente - 1150035 - FERNANDA DE CARVALHO LAGE
Externa à Instituição - KEITY MARA FERREIRA DE SOUZA E SABOYA - UFRN
Interno - 1151990 - MAMEDE SAID MAIA FILHO