Platts to introduce ETBE sustainability criteria

Following industry feedback on sustainability criteria for European ETBE, Platts will enhance its European ETBE assessment methodology by incorporating these criteria into its assessment processes from June 1, 2011.

Platts assessments reflect products that are lawfully sourced within the marketplace. The European Union introduced regulations pertaining to sustainability of biofuels in the form of a directive which came into force in December 2010. Platts will take steps to integrate provisions of these regulations into its assessment process once they are widely transposed into national legislation of member states.

In the meantime, Platts will consider bids, offers and transactions where, upon buyer's request, the seller shall exercise reasonable efforts to provide documentation describing:

1) the ethanol feedstock type that goes into the manufacture of ETBE and percentage of each feedstock in the case of blendstocks;

2) the country of origin of the ethanol feedstock;

3) a declaration of land use on which the ethanol feedstock was grown on or after January 1, 2008.

Upon buyer's request, the seller should allow the buyer the right to audit the sustainability documentation for the sole purpose of determining the validity and veracity of these documents.

Platts will not consider ethanol in its ETBE assessment process that is in violation of the ILO's Minimum Age Convention 1973, and the ILO's Abolition of Forced Labor Convention 1957.

Please direct any further feedback or queries to Ilana Djelal at ilana_djelal@platts.com copy petchems@platts.com and pricegroup@platts.com.