Brazil Advances Carbon Capture and Storage Initiatives Amid Global Focus
The Brazilian government is advancing regulations and initiatives for Carbon Capture and Storage (CCS) as a key strategy for decarbonization. In 2023, CCS was highlighted at COP28, marking Brazil's integration into global carbon management efforts.
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In 2023, Brazil's legislative progress for Carbon Capture and Storage (CCS) included the approval of PL nº 1.425/2022, establishing a regulatory framework for CCS activities. The Brazilian government also introduced the Future Fuel Project (PL 4516/23), appointing ANP as the regulatory body for CO2 capture and storage.
There are currently over 40 operating CCS projects globally, with Brazil having notable initiatives such as Repsol's CO2 capture units. Petrobras reported reinjecting 10.6 million tons of CO2 in 2022, with a cumulative total of 40.8 million tons since 2008.
CCS is expected to remain a focal point in environmental discussions through 2024, coinciding with major global summits. Regulatory implementation is anticipated to further stimulate investment in CCS projects.
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