7-year EU moratorium on indirect land use change in the works: report

In the EU, Reuters is reporting that the European Commission has agreed to delay implementation of indirect land use change (ILUC) penalties until 2018. Reuters reports that the com promise is intended to safeguard the EU farm sector as well as the large, existing investments in biofuels, which has become a $20B+ business in the EU. The European Commission is also showing concerns about implementing ILUS rules while science is not yet stylized on the magnitude of ILUC impact.