17 April 2018, Montreux, Switzerland: Today, the World Business Council for Sustainable Development released its first below50 insights report, outlining key insights on the status of the low-carbon transport fuels sector. This report is a first attempt to offer viewpoints from across the transport fuels sector, designed to offer a better understanding of the current low-carbon transport fuels landscape.
below50 is one of WBCSD’s key climate and energy projects. It’s a unique global collaboration that brings together the entire value-chain for transport fuels that emit at least 50% less CO2 than conventional fossil fuels across their lifecycles. Any company who uses, produces or invests in transport fuels with 50% less emissions than conventional fossil fuels is welcome to join.
To date, only 3% of transport fuels are low-carbon. This figure must grow to 10% by 2030 to satisfy economic growth and help keep global temperatures from rising more than 2°C. The goal of below50 is to grow the market for the world’s most sustainable fuels, and to help replace 10% of global transport fossil fuel use with low-carbon transport fuels by 2030 (27% by 2050).
According to the report released today, below50 and the low-carbon transport fuels sector have experienced success on several fronts:
- In 2017, below50 grew exponentially, seeing a 60% increase in membership.
- At COP23, WBCSD announced a major expansion of its below50 project, launching three regional hubs across three continents.
- below50 members have collectively produced as well as procured more than 100 million liters of low-carbon.
- In 2017, below50 attended seven global industry events.
The report also features input from key global players in low-carbon transport fuels including commentary on the current state of the industry and global policy by:
- The Brazilian Industrial Biotechnology Association
- The Queensland Renewable Fuels Association
- Good Fuels
Together, below50 members are transforming the way low-carbon fuels are produced and used by raising awareness, overcoming policy barriers and developing tools to enable a fair and open marketplace.
below50 now aims to expand locally across existing hubs and explore new potential in Asia and Latin America.
For more information on current and future below50 activities, explore the report.