Brazil’s President signs Fuel of the Future law

Brazil’s President Luiz Inácio Lula da Silva signed Oct. 8 the Fuel of the Future law, what the Brazilian government is calling “the largest decarbonization program in the transportation and mobility sector on the planet.

The initiative, created by the Ministry of Mines and Energy, drives the emergence of new green industries in Brazil.

The program will unlock investments totaling $260 billion Brazilian reals (USD$46.8 billion) in various areas and actions, which the government said will prevent the emission of 705 million tons of CO2 by 2037.