(UPM, Helsinki, 12 October 2016 at 12:30 EET) - ENGOs, think-tanks and the advanced biofuel industry have been collaborating on defining policy boundaries for European fuels policy that recognises the need to safeguard sustainability while stimulating investments into a truly sustainable advanced biofuels industry.
Following the Paris Agreement, it becomes increasingly urgent to tackle emission from the transport sector, which will imminently become the EU's largest source of CO2 emissions.
Discussion among the platform - named Biofrontiers - were very timely, as the European Commission is preparing policy goals for renewable energy up to 2030. The project was managed by the International Council on Clean Transportation (ICCT) and supported by the European Climate Foundation (ECF), and this week launched its final report. The work demonstrates that sustainable advanced biofuels can be an attractive opportunity to quickly reduce CO2 emissions in transport.
"There is now a compelling case to provide investment security via incentives in 2030 policy for those projects that are proved to have a low impact on the climate, the environment and on land-use," said Chris Malins representing the ICCT.
"Europe risks losing its competitive position on innovating low-carbon transport fuels, unless the Commission seizes the opportunity to propose robust and well-designed carbon reduction targets in its Energy Union proposals in December."
Common understanding on high sustainability requirements
UPM engaged with ICCT, ECF and other partners to discuss sustainability requirements of biofuels, policy needs and the opportunities of advanced biofuels for several years.
"The Biofrontiers has been extremely useful as it has brought together the ENGOs and the advanced biofuels industry. UPM recognises the need to ensure common understanding on high sustainability requirements. It is crystal clear we need to get high quality advanced biofuels into the market. UPM has been producing renewable diesel from residues since early 2015, and we see how huge the demand is for sustainable, high quality advanced biofuels," says Marko Janhunen, Vice President, Stakeholder Relations in UPM Biorefining.
UPM Biofuels has been producing wood-based UPM BioVerno diesel in Lappeenranta, Finland since January 2015. UPM BioVerno is a renewable diesel that reduces CO2 emissions by up to 80%, and is compatible with existing diesel fleet.
The Biofrontiers report can be downloaded here
For further information please contact:
Marko Janhunen, Vice President, Stakeholder Relations, UPM Biorefing, tel. +358 50 590 0047
UPM, Media Relations
9.00-16.00 EET
tel. +358 40 588 3284
media@upm.com
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Through the renewing of the bio and forest industries, UPM is building a sustainable future across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Paper Europe and North America and UPM Plywood. Our products are made of renewable raw materials and are recyclable. We serve our customers worldwide. The group employs around 19,600 people and its annual sales are approximately EUR 10 billion. UPM shares are listed on NASDAQ OMX Helsinki. UPM - The Biofore Company - www.upm.com
