Brazil is moving towards a 10% carbon intensity reduction, regarding its transport fuels, to be achieved by 2028. The Brazilian National Council for Energy Policy (CNPE) approved this target, and the consequent compulsory annual CO2 emissions reduction, as part of the recently approved National Biofuels Policy, also called RenovaBio. RenovaBio assigns carbon intensity ratings to fuel producers, and provide financial incentives for decarbonisation through CBIO, decarbonisation credits which will be exchangeable on financial markets by 2019. The promotion of biofuels with better environmental performances is a major step in Brazilian commitment towards a sustainable transition.
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