19. Oct 2011
Biofuels growth stifled by EU policy delays
Biofuels for use in transport are becoming more competitive compared with oil but the pace of growth has slowed due to a lack of regulation and sustainability standards in Europe, the chief executive of BP's biofuels division said, according to Reuters.
"In the UK, biofuels get no tax breaks whatsoever. The biggest obstacle (to biofuel growth) is uncertainty around the future of mandates and clear European Union sustainability standards," Philip New of BP Biofuels told Reuters in an interview 18 October 2011.
Philip New expects the European Union to meet its 2020 target of getting 10 % of energy for transport from renewables, namely biofuels, if new measures are put in place to support the more sustainable alternative fuels.
EU policymakers are currently debating the green credentials of some biofuels and should present proposals for approval by EU governments and lawmakers before the end of the year. However, Reuters writes that legislation might not emerge for several years.
Around 20 % of EU and US transport should be fueled by biofuels by 2030 and 9 % globally, compared with the current 3 %, New said.
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