CBIO prices collapse in early trades

In Brazil, EPBR reports that despite Datagro trying to set the market for CBIOs at nearly $10 each in the first trade for the carbon credits, two operations concluded last week at the equivalent of $2.77. Four thousand credits were sold, according to data from B3. B3 does not identify CBIO issuers and buyers. The distributors, however, need to prove the acquisition of CBIOs according to the apportionment of annual goals, proportional to the sale of fossil fuels. Due to COVID-19, the government is currently reviewing its CBIO targets for 2020 and may cut its original obligations by 50%.