Marrakech, Morocco, 15 November 2016: The companies are (in alphabetical order) LGE Fund, Scania, United Airlines, UPM and UPS. These companies are some of the world’s largest investors in below50 fuels, investing in more than 100 million gallons annually. Their long-term commitment to decarbonizing transport is driving transformation in the sector, and their membership in below50 will accelerate the partnerships and dialogue between below50 fuels producers, investors, consumers and governments. The new joiners bring the total number of organizations collaborating on below50 to 30.
below50 also welcomes BSR and Carbon War Room to the Advisory Board of the group.
below50 is a ground-breaking initiative that brings forward-thinking businesses together with the World Business Council for Sustainable Development (WBCSD), Roundtable for Sustainable Biomaterials (RSB) and Sustainable Energy for All (SE4ALL) to promote the best-of-breed of sustainable fuels that can achieve significant carbon reductions, and scale up their development and use.
below50 was launched in the US market on 1 June 2016, in Europe on 28 June and most recently in the South American market on 28 October. It is a key outcome of the Low Carbon Technology Partnerships initiative (LCTPi) launched at COP21 in Paris last year.
In the space of five months the group has also agreed on a global definition of a sustainable fuel, as well as defined criteria that apply to companies who wish to join the group.
In parallel with the announcement on new joiners, below50 also announced the release of a new online platform showcasing the most innovative projects in the industry.
The platform aims to be the global reference tool, showing policymakers, investors and the public that all fuel technologies can be implemented in a sustainable way when adapted to local circumstances. It is the only platform worldwide that demonstrates the clear role these technologies can play in helping countries to achieve their National Determined Contributions (NDCs).
After COP22, the group aims to grow the impact of the portfolio and add new projects in the platform. Any company who wishes to be part of this global movement is invited to submit their below50 project to the below50.org website via info@below50org.