Brazilian Federal Government regulates sale of biofuels' low carbon credits and RenovaBio Committee is operational

On March 19, 2018, Brazilian Government enacted Federal Decree No 9,308 that regulates the mandatory caps of biofuel’s low carbon credits (“CBios”) which fuel distributors shall comply with, as stated by the Brazilian Policy for Biofules (“RenovaBio”). In practice, the regulation is the kick off to structure the CBIOs market. Moreover, RenovaBio Committee (responsible for monitoring the biofuel market) is already operational with schedule of meetings arranged until May 22, 2018 when the mandatory caps should be proposed for Government’s analysis.

SOURCE: veirano.com