En Español



Very usefull links



PW
Bookstore





News links

AP

AFP

Aljazeera

Dow Jones

Oil price

Reuters

Bloomberg

Views and News
from
Norway

 

 

 

 

Brazil on fast track to boost adoption of biofuel mandates -industry group


 

 

SAO PAULO
Petroleumworld 07 06
2017

The Brazilian government will use a fast-track legislative tool to speed up implementation of a program that aims to boost biofuels use by setting mandates for fuels distributors, an ethanol industry leader told Reuters on Wednesday.

André Rocha, head of the National Sugar and Ethanol Council, said the government will issue a presidential decree to implement the program, called RenovaBio.

He said a decision was reached on the strategy for the new legislation after a meeting on Tuesday gathering industry representatives and high-level government officials.

"That is the fastest way to put the program to work. A normal draft-bill would take years to get approved by the Congress," said Rocha.

A presidential decree takes effect immediately after its publication but needs to be voted in Congress within four months.

The RenovaBio plan aims to cut carbon emissions by boosting use of biofuels, helping Brazil meet its pledge to cut heat-trapping gases under the Paris climate agreement.

According to the program, ethanol and biodiesel mills would issue certificates of emissions reductions (CERs) that would be transferred to fuel distributors when they buy the biofuels. Each distributor would be required to hold a certain number of CERs at the end of a year, according to mandates that would be set by the government.

The system is expected to create a secondary market for the certificates, possibly at local stock exchange B3, since fuel distributors that do not have enough certificates would have to buy them to fulfill their annual mandates.

RenovaBio is seen by sugar and ethanol experts as a lifeline to mills in Brazil struggling to compete with cheaper gasoline and diesel in local market.


Story by José Roberto Gomes; Writing by Marcelo Teixeira; Editing by Cynthia Osterman from Reuters.

reuters
.com
07 05 2017

We invite all our readers to share with us
their views and comments about this article.
Write to editor@petroleumworld.com

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to: editor@petroleumworld.com

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels


 

 

 

 

 

 

TOP

Contact: editor@petroleumworld.com,

Editor & Publisher:Elio Ohep/
Contact Email: editor@petroleumworld.com

CopyRight © 1999-2016, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2017, Petroleumworld   / Elio Ohep - All rights reservedThis site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.