“On Nov. 13, the European Parliament approved new targets for renewables, energy efficiency and second-generation biofuels when it voted to confirm a provisional agreement reached with the European Council in June on a revised Renewable Energy Directive (REDII).
“As part of the package, second-generation biofuels must provide at least 14 percent of transportation fuel by 2030. First-generation biofuels that are considered to have a high risk for indirect land use change (ILUC), however, will no longer be able to count toward the EU’s renewable energy goals starting in 2030. From 2019 until 2030, the contribution of first-generation biofuels to the EU’s energy goals will be gradually phased out.”
“This clearly indicates that the European Union takes climate change seriously,”said Ilkka Räsänen, director of public affairs at Neste Corp., the large Finland-based renewable diesel producer. “The EU Renewable Energy Directive creates a predictable investment environment for biofuels.”