Temer: RenovaBio is one of the most consequential acts of the Brazilian government
After signing the decree regulating the National Biofuels Policy (RenovaBio), President Michel Temer described the programme as one of the most important measures introduced by the Brazilian government. The signing took place during the opening conference of the 2018/19 Sugarcane, Sugar and Ethanol Harvest in Ribeirão Preto (SP).
“RenovaBio is, I would say, just another chapter of a broad modernisation agenda. But, among all actions, fiscal responsibility, social responsibility... I would say that, because of the enthusiasm I see (...) I think RenovaBio, of all acts, will be one of the most consequential of this government," he said.
The law provides for the expansion of the use of biofuels in the country's energy mix, including ethanol, biomass and biodiesel, providing a boost to the entire fuel production chain without imposing carbon taxes. In addition to the economic impact, the project is in line with the commitments undertaken by Brazil under the UN Paris Agreement to reduce greenhouse gas emissions.
There is growing optimism in the Brazilian economy, said the president in reference to the country's record harvest in 2017: "Brazil (...) is back. It is here to stay, to a large extent due to support it has received from its agriculture and agribusiness sector”.