The federal government extended the deadline for fuel distributors to prove the individual annual target for the purchase of Cbios, the decarbonization credits. The measure was published in this Friday’s edition (22) of the Federal Official Gazette. With the act, each fuel distributor will have until September 30, 2023 to meet the individual target for 2022. Originally, the deadline would end in December 2022.
The decarbonization credits are part of the RenovaBio program, which determines that liquid fuel distributors have a mandatory goal of reducing greenhouse gas emissions. The credit is issued by producers and importers of biofuels, duly certified by the National Agency of Petroleum, Natural Gas and Biofuels (ANP). The volume to be purchased by distributors is based on the fuel purchase and sale invoices. The annual decarbonization target of these companies that sell fossil fuels is calculated by the ANP. Acquiring CBIOs is the only way to achieve these goals.
According to the Ministry of Mines and Energy, one Cbio is equivalent to one ton of avoided emissions, which represents seven trees in terms of carbon capture. By 2030, greenhouse gas emissions corresponding to the planting of 5 billion trees will be offset. That is, all existing trees in Denmark, Ireland, Belgium, the Netherlands and the United Kingdom together.
