25 April 2024

ANP Publishes Individual Renovabio Emissions Targets For 2024 And 2023 Results

Mayer Brown


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On March 28, 2024, Brazil's National Petroleum Agency (ANP) published the mandatory individual targets for reducing greenhouse gas emissions for 2024. These targets consider the global target of 38.78...
Brazil Environment
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On March 28, 2024, Brazil's National Petroleum Agency (ANP) published the mandatory individual targets for reducing greenhouse gas emissions for 2024. These targets consider the global target of 38.78 million Decarbonization Credits (CBIOs) that must be acquired by fuel distributors throughout the year, as established by the National Energy Policy Council (CNPE) in Resolution No. 6/2023.

The National Biofuels Policy—RenovaBio, which was established by Federal Law No. 13,576/2017—aims to reduce the presence of carbon in the transport energy matrix by promoting the production and commercialization of biofuels, requiring that fuel distributors must acquire CBIOs from certified biofuel production plants.

Furthermore, the ANP released the compliance results of individual targets for 2023, during which 33.1 million CBIOS were retired, representing 81% of the individual targets assigned to distributors by the ANP, and 88% of the global target set by the CNPE for 2023. These results indicate a significant drop in compliance compared to previous years:


Compliance with Individual Targets

Compliance with Global Target










The reduction in compliance levels can be attributed to, among other factors, the increase in CBIO prices, uncertainties arising from litigation of the matter, and the expected possibility of compliance deadline extension, similar to what happened in 2022.

Partial or total non-compliance with individual targets can result in a fine, proportional to the volume of CBIOs that have not been achieved, up to BRL 50 million.

The Environmental, Climate Change and ESG practice of Tauil & Chequer Advogados, in association with Mayer Brown, is available for additional information.

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Founded in 2001, Tauil & Chequer Advogados is a full service law firm with approximately 90 lawyers and offices in Rio de Janeiro, São Paulo and Vitória. T&C represents local and international businesses on their domestic and cross-border activities and offers clients the full range of legal services including: corporate and M&A; debt and equity capital markets; banking and finance; employment and benefits; environmental; intellectual property; litigation and dispute resolution; restructuring, bankruptcy and insolvency; tax; and real estate. The firm has a particularly strong and longstanding presence in the energy, oil and gas and infrastructure industries as well as with pension and investment funds. In December 2009, T&C entered into an agreement to operate in association with Mayer Brown LLP and become "Tauil & Chequer Advogados in association with Mayer Brown LLP."

© Copyright 2024. Tauil & Chequer Advogados, a Brazilian law partnership with which Mayer Brown is associated. All rights reserved.

This article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.

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