WASHINGTON, DC – Michael McAdams, President of the Superior Biofuels Affiliation (ABFA), issued the next assertion in response to the U.S. Treasury Division and Inner Income Service (IRS)’s newly launched modifications of the Greenhouse Gases, Regulated Emissions and Vitality Use in Applied sciences (GREET) mannequin.
“The Superior Biofuels Affiliation applauds the Treasury Division and IRS for his or her choice to supply elevated modeling flexibility for measuring the carbon depth of sustainable aviation gasoline (SAF). This transfer will facilitate larger manufacturing of SAF and pave the best way for its widespread adoption. We sit up for continued and unequivocal help from the federal authorities for sustainable, low-carbon aviation fuels.
“The Biden administration set the formidable objective of supplying a minimum of 3 billion gallons of SAF per yr by 2030 and the aviation business intends to succeed in internet zero emissions by 2050. To assist meet these objectives ABFA has lengthy fought to increase superior biofuels credit and to extend the Renewable Gasoline Normal. These deadlines are quick approaching, and ABFA’s members stand prepared to fulfill this problem with the help of efficient federal coverage. The versatile modeling method supplied in at present’s 40B rule tremendously will increase the probability of assembly these targets.
“Later this yr, the administration may have one other alternative to additional enhance superior biofuel manufacturing when it establishes the mannequin for qualifying fuels underneath the Clear Gasoline Manufacturing Credit score, or 45Z. We hope that regulators will craft this rule transparently and in session with business companions to attain emissions discount objectives alongside financial outcomes.
“Our members are keen to produce the world with sustainable low-carbon fuels, however their full manufacturing potential can’t be met with out authorities cooperation. We’re grateful to the Treasury Division, IRS, Division of Vitality, Division of Agriculture, Division of Transportation, and Environmental Safety Company for his or her considerate replace to the GREET mannequin. With continued collaboration we are able to meaningfully cut back emissions and meet our goal objectives. As we glance to the longer term, we’ll proceed to have interaction with the USDA and supply information and data to assist inform future insurance policies, particularly surrounding local weather sensible agriculture and the position it performs within the superior biofuels sector.”
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Concerning the Superior Biofuels Affiliation
Based in 2007, ABFA represents greater than 40 corporations from the U.S. and all over the world who’re stakeholders within the biofuels business. ABFA represents all sustainable aviation gasoline (SAF) at the moment in manufacturing in the USA, including to our membership’s worldwide annual manufacturing exceeding 5 billion gallons of renewable diesel, biodiesel, renewable gasoline, and renewable heating oil.
