Biofuture Platform launches set of voluntary principles to boost bioeconomy

In France, the Biofuture Platform, a twenty-country, multi-stakeholder initiative, announced on August 12 the launch of a set of voluntary principles. These are intended to offer guidance to governments and policymakers around the world on the need to promote the sustainable bioeconomy in both short-term relief packages and broader post-COVID economic recovery programs.

The principles have the support of the twenty Biofuture Platform member countries, and were developed following consultations with policymakers, industry experts and international organizations, including the International Renewable Energy Agency (IRENA), the Global Bioenergy Partnership (GBEP) and the International Energy Agency.

The Principles are non-binding and non-prescriptive, with member countries encouraged to implement them in accordance with broader sustainability initiatives and economic recovery programs. A number of countries have already implemented or are considering new policies in line with the Principles.

These include Brazil’s RenovaBio and Canada’s Clean Fuels Standard programs, which incorporate positive externalities of biofuels into market-based mechanisms. The US also recently revealed plans for a Higher Blends Infrastructure Incentive Program, to reinforce biofuel distribution infrastructure.