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Brazil: Soaring RenovaBio carbon credits become investigation at Cade

The Ministry of Energy and Mines of Brazil asked the Administrative Council for Economic Defense (Cade) to open an investigation to investigate evidence of infringement in the carbon credits market traded on B3 Stock Exchange. The value of the securities, called CBios, has skyrocketed in recent months, as can be seen in the image below. CBio was the model created by the RenovaBio program (Law No. 13,576 of 2017) to encourage the production and consumption of less polluting fuels than those derived from petroleum. It is issued by biofuel producers and importers, while fossil fuel distributors have annual decarbonization targets and are therefore required to purchase CBios to achieve these targets. CADE is now asking CADE to investigate whether distributors, or anyone else, raised the price of certificates to force their competitors to pay more for them. At the beginning of the year, medium-sized fuel distributors had already requested an investigation into the CBios market, complaining about the escalation of prices, since their purchase is mandatory. Information from 14/Jul/2022 by Folha and 20/Jul/202 by Broadcast. Click to read more about it.


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 CARBON CREDIT MARKETS

“Nothing in life is to be feared, it is only to be understood. Now is the time to understand more, so that we may fear less.”

“I am among those who think that science has great beauty”

Madame Marie Curie (1867 - 1934) Chemist & physicist. French, born Polish.

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