Britain exceeds biofuels target - govt agency

Date : 10/07/2008 @ 9:35AM
Source : TFN
Stock : Royal Dutch Shell (RDSA)
Quote : 1510.0  2.0 (0.13%) @ 4:20AM
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Britain exceeds biofuels target - govt agency

        LONDON, Oct 7 (Reuters) - Britain is exceeding its 2.5 percent target for
biofuels use in motor fuel but several oil companies have failed to meet
environmental goals, a government agency said on Tuesday. 
       "These early figures demonstrate that some companies have risen to the
challenge of sourcing biofuels to meet good sustainability standards," Nick
Goodall, chief executive officer of the Renewable Fuels Agency said in a
statement. 
       The agency said that several companies had, however, failed to report any
biofuels as meeting qualifying environment standards, including BP and Exxon
Mobil's Esso. 
       Companies exceeding the environmental targets included Shell and
Greenergy, which is part owned by retailer Tesco . 
       Britain does not currently require that environmental standards are met. 
       The target for biofuels use became effective on April 15 and the report
covered the first three months up to July 14. The report put biofuels use at
2.61 percent of motor fuel, slightly above the 2.5 percent target. 
       Biodiesel accounted for 84 percent of biofuels use with soy the most
important feedstock (41 percent) followed by rapseed (27 percent), tallow (12
percent) and palm (11 percent). 
       Biofuels are currently produced mainly from grains, vegetable oils and
sugar crops. They are seen by supporters as a way to reduce dependence on fossil
fuels and cut emissions of the greenhouse gases believed to contribute to
climate change. 
       Critics fear, however, that expanding production of certain feedstocks
such as palm oil may have led to rainforest destruction and so accelerated
climate change. 
    (Reporting by Nigel Hunt; Editing by Peter Blackburn) Keywords: BRITAIN
BIOFUELS/     
tf.TFN-Europe_newsdesk@thomsonreuters.com
cmr

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