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Renovabio

First sale of CBIOs to the distributor is equivalent to 22 thousand tons of CO2 removed from the atmosphere

07/31/2020 | 16h59

For the first time since the National Biofuels Policy (RenovaBio) came into force, a fuel distributor purchased CBios to meet its 2020 target. The transaction via B3 between biofuel producers and a distributor was registered on July 24 and involved 22 thousand CBios, that is, an amount equivalent to 22 thousand tons of CO2 that are no longer emitted into the atmosphere. The name of those involved in the transaction is not available on the stock exchange.

 

RenovaBio establishes guidelines and instruments for the decarbonization of the Brazilian transport matrix, including the creation of a carbon market in the country, with the commercialization of Decarbonization Credits (CBios). Each CBio is equivalent to a ton of CO2 that is no longer emitted into the atmosphere. To that end, biofuel producers needed to go through a certification process that measures the carbon footprint of that production chain. The more sustainable, the more CBios can be issued.

 

The program establishes annual decarbonisation levels that are broken down into mandatory individual CBios purchase targets for distributors, according to their participation in the fossil fuel market.

 

According to information provided by the stock exchange, the price of CBios has varied from R $ 15 to R $ 50 per unit.



Font: T&B Petroleum/Press Office Unica
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