RenovaBio Reaches 10 Million Issued CBIOs

Written by Paulo Nogueira

Published on 01/10/2020 at 11:18

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The National Biofuels Policy, called RenovaBio, reached, by the end of yesterday (September 30), the milestone of 10 million validated decarbonization credits (CBIOs) on the CBIO Platform.

This milestone represents 67% of the total of 14.9 million CBIOs set as a target for the years 2019 and 2020 by Resolutions No. 15/2019 and No. 8/2020 of the National Energy Policy Council (CNPE).

The CBIO market has been registering significant positive variations as RenovaBio progresses. The month of September recorded the highest number of CBIOs validated on the Platform (2.2 million), raising the average number of CBIOs generated in the last three months to 2 million/month. With this growth trend, the expectation is that there will be enough CBIOs to meet the target for 2019 and 2020 by early December.

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The first retirement operations of the title occurred in August and September, with 103,700 retired by obligated parties. The retirement of a CBIO occurs when its holder permanently removes it from the market, preventing any future transactions. Fossil fuel distributors (gasoline and diesel) are the obligated parties to meet individual targets under RenovaBio. Compliance with their targets is based on the number of CBIOs they retire. It is worth noting that the average value of the CBIO traded on B3 varied from R$ 20 to R$ 37.35 in September.

RenovaBio is the national policy established with the main goal of stimulating the production and consumption of biofuels in Brazil, based on predictability, environmental, economic, and social sustainability, and reducing greenhouse gas emissions in the fuel matrix.

The ANP is one of the bodies participating in RenovaBio, in line with its commitment to decarbonization and contributing to Brazil’s compliance with the Paris Agreement.

See more information about RenovaBio: http://www.anp.gov.br/producao-de-biocombustiveis/renovabio

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