More companies join sustainable fuels initiative

Five new global companies have joined the sustainable fuels initiative called below50, the World Business Council for Sustainable Development (WBCSD) has said.

The companies are 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 decarbonising 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 WBCSD said in a statement.

The new joiners bring the total number of organisations collaborating on below50 to 30.

Below50 is an initiative that brings businesses together with the World Business Council for Sustainable Development, 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.

The initiative has also welcomed BSR and Carbon War Room to the Advisory Board of the group.

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.

 New online platform

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.

"We are excited to be the first airline to join below50, and look forward to supporting this initiative as part of our Eco-Skies commitment to the environment”, said Angela Foster-Rice, managing director of Environmental Affairs at United Airlines.

Scania’s Henrik Henriksson said: “At Scania we have the ambition to lead the shift towards sustainable transport systems, and our approach is always to act here and now. A powerful mean is to form industry cooperations with all involved parties: the buyers of transport, the transporters, Scania and the fuel and infrastructure suppliers.

“We believe these partnerships is the model of working to break through the regular pattern and start the shift. Below50 provides Scania with an excellent platform of leaders to explore and launch partnerships with different parts of the logistical value chain.”