GAF: RenovaBio is an example of modern public policy

With the use of intelligent algorithms and contracts in its formulation, RenovaBio is an example of a modern and effective public policy, said Miguel Ivan de Oliveira, director of the Department of Biofuels of the Ministry of Mines and Energy (MME) Public Policies: Inducing the private sector in the desired direction ", in the Global Agribusiness Forum (GAF), on Monday (23), in São Paulo (SP).

According to Miguel Ivan, the RenovaBio is an efficient policy because it addresses the financial market positive environmental characteristics / externalities of the production of biofuels.

"RenovaBio recognizes that the sugar-energy sector provides society with a service that fossil fuels do not provide, in this case, with reducing emissions of greenhouse gases. Therefore, RenovaBio rewards those who provide better service. "

According to the MME representative, the same reasoning can be applied to the design of a public policy that gives financial value to the standing forest. For Miguel Ivan, modern public policies need simpler, less bureaucratic structures.

Also a speaker in the same panel, Omar Al-Khan, director of the Dubai Chamber of Commerce and Industry [United Arab Emirates], stressed that his country favors the open economy, with trade accounting for 30% of GDP. In his speech, Omar emphasized the importance and the need to strengthen the agricultural export trade between Latin America and the United Arab Emirates.