Wassup, EU? The Top 10 Trends in Europe’s Advanced Bioeconomy

#3 The Sustainability battle: Initiatives to stimulate investment and deployment

Last month, we reported that Fortum suggests clear EU-level sustainability criteria for biomass and a transition to a market-driven system must replace complex subsidy systems. Fortum is of the opinion that EU-level sustainability criteria are needed for solid biomass, criteria that are applicable to all bioenergy, regardless of its end use. The use of biomass for energy should be on equal footing with other usage forms. The resource efficiency of biomass could be one of the sustainability criteria.

Among major players, Volkswagen has teamed with Shell on a new report by Roland Berger promoting a policy path forward towards a European transport market that achieves environmental and GHG goals set at the COP21 meeting in Paris through the use of biofuels rather than the current trend towards electric vehicles. The integrated roadmap for 2030 and another for 2050 include financial instruments, regulations and consumer education in order to move biofuel consumption towards achieving those environmental goals.

Coming out of Paris were two major initiatives: President Obama and French President Hollande, along with a wide range of other top global leaders, are announcing today the launch of “Mission Innovation,” a 20-country initiative to dramatically accelerate public and private global clean energy innovation to address global climate change, provide affordable clean energy to consumers, including in the developing world, and create additional commercial opportunities in clean energy.

Each country commits to double their respective clean energy research and development (R&D) investment over five years. Participating countries include Australia, Brazil, Canada, Chile, China, Denmark, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Norway, Saudi Arabia, Sweden, the United Arab Emirates, the United Kingdom and the US.

Even more interesting were the 28 business leaders and organizations who launched the Breakthrough Energy Coalition, with Coalition chairman Bill Gates stating that “The existing system of basic research, clean energy investment, regulatory frameworks, and subsidies fails to sufficiently mobilize investment in truly transformative energy solutions for the future. We can’t wait for the system to change through normal cycles.”

Sovereign investment is one way forward, says Finland, which will invest $88 million for biofuels and renewable energy technologies to help in its transition towards a clean energy market in 2030, cutting its fossil fuel imports by half during the 2020s and stop the use of coal. The country hopes to use renewable energy for half of its energy demand by the same time. One utility announced it would mothball its 170MW coal power plant while another said last year it would close two coal plants with combined production of 480MW.