Carbon Accounting Vital In Biofuel Policies Around The World: IEA Sound regulatory frameworks supported by transparent, science-based carbon intensity calculations will be required to attract the investments needed to scale up biofuel production.

By Priyanka Tanwer

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Photo Curtesy: IEA

In its recent report on carbon accounting for sustainable biofuels, International Energy Agency (IEA) has emphasised the need for robust verification process in carbon intensity calculations.

"The development and use of transparent and internationally agreed GHG accounting is key for the deployment of sustainable biofuels," IEA stated.

According to the report, sustainable biofuels play an important role in decarbonising transport. They complement the carbon reductions offered by electric vehicles and other energy efficiency measures in road transport and are expected to play an increasing long-term role in aviation and shipping. Sustainable biofuels can also provide benefits in terms of energy security and job creation, including in rural environments.

It said that sound regulatory frameworks supported by transparent, science-based carbon intensity calculations will be required to attract the investments needed to scale up biofuel production.

"Policy measures include additional effort and attention to verify GHG reduction effects in practice, as emission reduction calculations can be unreliable," the report added.

The report has also suggested key policy priorities and stated that GHG accounting relies on lifecycle assessments (LCAs) that are highly data-intensive and entail consistency-and representatively-related challenges. Data should come from credible, publicly accessible sources that can be cited and used for replicable analyses that strive to represent relevant geographical contexts and situations.

"Establish policies that reward better GHG performance and drive continuous improvement. The carbon intensity of a biofuel pathway, expressed in gCO2-eq/MJ, can be influenced and significantly improved over time if supportive policies are in place," it added.

IEA in its report says that promoting improvements in agricultural management is crucial to boost agricultural efficiency and yields; increase land productivity (through the use of cover crops and multicropping); and enhance soil carbon stocks (by employing sustainable practices and applying organic soil improvers such as biochar and biofertilisers). "Collaboration with the agriculture sector is essential to promote improvements in crop-based biofuel sustainability while addressing the broader issue of sustainability in agriculture in general," it said.

Meanwhile, it also suggested that Including biofuel co-products and waste in support measures and fostering positive synergies with other sectors can create a ripple effect in GHG emission savings from biofuel production.

Priyanka Tanwer

Former Sr. Correspondent

  
Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

News and Trends

How Lab-Grown Diamonds are Reshaping Jewellery Market

As sustainability takes the centre stage shaping the luxury market, lab grown diamonds (LGDs) are leading the way and not merely following the latest trends, says Ishendra Agarwal, Founder, Giva

Business News

American Eagle Stock Sees a 25% Surge Following Sydney Sweeney's Controversial 'Great Jeans' Ad Campaign

American Eagle saw its stock jump 25% after its earnings call on Wednesday.

Leadership

Can Startup Founders Become Great CEOs? Here's What It Takes.

Startup founders CAN evolve into outstanding CEOs — rather than being replaced by them. Here's how.

Business News

Rival Airlines Are Adding Extra Flights in Case Spirit 'Suddenly Goes Out of Business'

United and Frontier Airlines are adding new routes after Spirit cut 12 cities from its schedule.

Starting a Business

The Hardest Parts of Being a Solopreneur (and How I've Learned to Handle Them)

Solopreneurship is on the rise, offering us freedom and independence — but lasting success depends on tackling its unique challenges with strategy.