Current Situation of the Biofuel Sector in the European Union in the Light of Environmental Policies
Chapter from the book:
Durgun,
B.
(ed.)
2023.
Macro Aspects of Environmental Economics.
Synopsis
Biofuels can be used as fuel in vehicles for a long time. The production and consumption of biofuels began to increase gradually in the world due to the depletion of oil reserves, increasing importance of the global warming and the security of energy supply. The aim of the study is to evaluate the current situation of the biofuel sector in the European Union and predict its future. To gain insight into the current situation of the industry, an evaluation was made of the European Union, which leads the world in the use of biodiesel. The European Union supports the production of environmentally friendly second-generation biofuels with 13 biofuel certification programmes. This increases the importance of second-generation biofuel because the CO2 emission of second-generation biofuel is lower than the first-generation biofuel. In addition, the European Union sets targets for the future to provide a certain portion of the fuel used in road transport with biofuels and includes the use of second-generation biofuels in these targets. Targets for the use of second-generation biofuels have increased the importance of second-generation biofuels. Recent developments in the European Union show that biofuel certification programmes and second-generation biofuel production will become increasingly important in the world biofuel sector.