Encouraging news continues to flow from South America especially as Brazil outlines its national biofuels policy—RenovaBio. RenovaBio aims to reduce greenhouse gas (GHG) emissions by 43 percent, driven by the commitment made at the 2015 Paris Climate Conference. The policy is an important step for the local biofuels industry, as GHG emission reduction certificates will place higher value on fuels with lower carbon intensity than petroleum.
RenovaBio objectives include increasing renewable energy use, adding an economic value on emission reductions, driving technological innovation and providing predictability for investments as well as an overall drive for greater sustainability. Current industry forecasts estimate that domestic ethanol demand is expected to increase by 60 percent in 2018. By 2030, RenovaBio could result in domestic demand for as much as 40 billion liters of ethanol.
