Brazil plans to use a high-level visit to China next week to explore whether Beijing could buy Brazilian carbon credits and to advance a bilateral carbon-market accord that officials hope to announce at the COP31 global climate summit in November in Turkey. Brazil’s carbon market secretary Cristina Reis said the talks will also examine whether China could purchase internationally transferred mitigation outcomes, or ITMOs, carbon credits counted toward national emissions targets under the Paris Agreement. Brazil currently trades credits only in voluntary markets, but legislation approved in 2024 is preparing a regulated system for companies with official decarbonization obligations. The government had planned to verify credits for international trades between 2031 and 2035, though it is considering industry requests to accelerate that timetable. The China discussions will coincide with September 14-18 meetings in Wuhan, where Brazil, China and the European Union are set to approve a work plan for a coalition covering roughly 42% of global emissions. The coalition has 11 members and is seeking broader participation from developing countries. Its members believe mutual recognition of carbon assets could be achieved within a decade, potentially helping expand carbon markets and investment flows as Brazil pursues reindustrialization around new technologies.