Brazil became the 36th member of the International Carbon Action Partnership (ICAP) on 9 February 2026.
Membership follows a formal application by the Ministry of Finance, which oversees the design and political oversight of the country's emissions trading system (ETS), together with the signing of the ICAP Political Declaration by Minister of Finance Fernando Haddad. Brazil's membership underscores the country's dedication to advancing international cooperation on emissions trading and fostering effective carbon market policies.
Through its participation in ICAP, Brazil gains access to a global network of jurisdictions committed to exchanging expertise and enhancing the effectiveness of emissions trading systems. The country is advancing toward the implementation of the Brazilian Greenhouse Gas Emissions Trading System (Sistema Brasileiro de Comércio de Emissões de Gases de Efeito Estufa, SBCE), a mandatory cap-and-trade system established under Law No. 15,042/2024, which was signed into law on 12 December 2024. The SBCE is expected to be fully operational within five to six years, covering key sectors of Brazil's economy.
Brazil has also taken a leadership role in advancing international carbon market cooperation. During COP30 in Belém in November 2025, Brazil launched the Declaration on the Open Coalition on Compliance Carbon Markets, which has been endorsed by around 20 countries to date. The Open Coalition aims to strengthen international cooperation on developing effective, sustainable, and ambitious carbon pricing approaches, encouraging knowledge exchange and exploring opportunities for practical collaboration that improve the cost-effectiveness of regulated carbon markets. ICAP will engage closely with the Open Coalition, and Brazil's membership in ICAP will strengthen cooperation between the Partnership and the Coalition.
With the addition of Brazil, ICAP now counts 36 members and nine observers.
