Impact of COVID-19 on the Advanced Biofuels sector
In October 2020, GBEP held a webinar focusing on the impacts of COVID-19 on the Advanced Biofuels Sector. Given the reduced demand for transport fuels, the advanced biofuels sector has contracted together with the biofuels sector as a whole, which has seen an 11.6% drop in production compared with 2019. This is the first contraction is output since the 1990s.
However, by 2025, the IEA expect that biofuels will meet around 5.4% of road transport energy demand in 2025, rising from just under 4.8% in 2019. This is necessary to meet decarbonization goals within the transport sector, and this will include deployment of advanced biofuel technologies.
Both in terms of COVID-19 recovery, and also in the long term, investments in the advanced biofuels sector must be invigorated to meet these targets and this relies heavily on stability of regulation. During the GBEP webinar, experts from the private sector emphasized the importance of stable and favorable regulation to stimulate the sector. This is one of the key aspects acknowledged by the Biofuture Principles for Post-Covid Recovery and Acceleration. Indeed, Ms Marthaler from USDA highlighted investments in infrastructure support and unwavering support for advanced biofuels.
The Activity Group on Advanced Liquid Biofuels is collecting experiences in advanced liquid biofuels and the impacts of COVID-19. The call for examples has been renewed and we are accepting new case studies until 31 December 2020. If you are interested in contributing with an experience of a project/programme/company then you are invited to contact [email protected] for more information.