NWE ETBE sustainability change effective Mar 1

Following industry feedback and developments on the implementation of the EU Renewable Energy Directive (RED) 2009/28/EC at the member-state level, Platts has refined its Northwest European ETBE assessment.

Effective from March 1, 2012 Platts will only reflect bids, offers and trades in its Market on Close assessment process for product that satisfies the sustainability criteria defined in the article 17 of the directive.

The sellers are required to demonstrate compliance with the provisions of the directive by supplying proof of sustainability issued either by any of the voluntary schemes approved by the European Commission or by an independent audit performed in accordance with the guidelines referred to in the directive and prescribed by national requirements of respective member state(s).

For comments, please write to petchems@platts.com, with a copy to pricegroup@platts.com.