A new Brazilian target of reducing fuel emissions by 10 percent by 2028 should boost biofuel investments, the head of a biofuels group says.

The target, set June 5 by Brazil’s National Energy Policy Council (CNPE), an inter-ministerial body, is the sum of yearly CNPE-set targets that increase progressively from 2000 through 2028.

The targets are a linchpin of a biofuels law enacted last December to reduce Brazil’s greenhouse gas emissions and to meet its Paris climate agreement pledge...