IISD slashes estimates of EU biofuel subsidies by nearly half

In Switzerland, the International Institute for Sustainable Development has lowered its estimates of EU biofuel subsidies to EUR5.515–EUR6.896 billion, compared to its original estimate of EUR9.272–EUR10.653 billion released in its April report “Biofuels—At What Cost? A review of costs and benefits of EU biofuel policies.” The updated estimate for fuel excise tax exemption is EUR2.047 billion in total, made up of EUR562 million for ethanol and EUR1.485 billion for biodiesel. The corrected estimate is lower than the original estimates by EUR3.757 billion in total. For bioethanol, the estimate is EUR2.048 billion lower. For biodiesel, the estimate is EUR1.709 billion lower.