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Assessment of Potential and Promotion of New Generation of Renewable Technologies ____________________________________________________________________________________________ The European Commission estimated that the fund could leverage additional private risk capital of at least €300 million. The first two GEEREF investments worth €22.5 million have been announced in December 2009, in support of projects in Africa and Asia. For more information on GEEREF, see [Behrens 2009]. Development cooperation in the field of energy is mainly focussed at reducing energy poverty and thus at disseminating proven and relatively cheap renewable energy options. However, this is not to say that current EU energy programmes may not support “new” renewable energy technologies once they become competitive. 3.2.2. Rethinking Trade Policy in the Face of Growing International Trade in Biofuels Biomass is set to play a growing role in the EU’s energy mix, not only within the context of the binding EU target to source 10% of each member state’s transport fuel mix from renewable energy sources, but increasingly also in stationary units for electricity production or for heating. In the transport sector, initial enthusiasm about biofuels has faded in favour of a more balanced approach taking into account several facets of sustainability. On the one hand, biofuels may not always lead to a reduction of GHG emissions when compared to their conventional fossil alternatives [see, e.g. Zah et al. 2007] while on the other hand, they are often associated with indirect land use change (ILUC), which may lead to the release of large amounts of CO2 emissions. The new EU Renewable Energy Directive established environmental sustainability criteria for biofuels, including a minimum rate of direct GHG emissions savings (starting from 35% in 2009 and rising to 60% by 2018) and restrictions on land conversion (covering only direct land use change). These criteria are expected to be strengthened by the European Commission in order to include several aspects of ILUC in the course of 2010. However, as useful as these criteria might be from an environmental perspective, they may be controversial from a trade perspective. For example, it could be argued that sustainability criteria could constitute ‘non-tariff barriers’ to trade, which may be illegal under the World Trade Organisation (WTO). If the criteria are challenged in the WTO, the EU will only be able to defend them successfully if it can show “that they are non-discriminatory and scientifically based and that they have been imposed only after meaningful negotiations, with the EU’s main suppliers, to develop international standards” [Swinbank 2009]. With growing international trade in biofuels, there is a case for removing protectionist measures aimed at supporting national agricultural feedstocks and interests in favour of the most efficient biofuels in terms of costs, GHG emissions and other environmental benefits. In the EU, biofuels (both from domestic production and from abroad) benefit from the Renewable Energy Directive in combination with the Energy Tax Directive which allows for tax reductions and exceptions for biofuels. The Common Agricultural Policy (CAP) plays another important role in encouraging domestic production (e.g. through direct support). Furthermore, EU trade policies discourage imports from abroad. While imports for biodiesel are subject to the Most Favoured Nation (MFN) duty of 6.5%, imports of bioethanol are burdened with tariffs reaching from €10.2 per hectolitre for denatured ethanol, to €19.2 per hectolitre for undenatured ethanol. The tariff level thus depends on the classification of the product [Al-Riffai et al. 2010].23 23 Although it should also be noted that there exist several initiatives allowing for duty-free access of biofuels to the European market, such as the Everything But Arms Initiative, the Cotonou Agreement, the Euro-Med Agreements and the Generalised System of Preferences Plus. IP/A/ITRE/ST/2009-11 & 12 85 PE 440.278PDF Image | Policy Department Renewable Technologies
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