Platts proposes to increase Ethanol T2 FOB Rotterdam min GHG savings threshold from July 1, 2026

Following extensive industry consultation, Platts, part of S&P Global Commodity Insights, proposes to increase the minimum greenhouse gas (GHG) savings level reflected in the Ethanol T2 FOB Rotterdam barge (AAYDT00) assessments from July 1, 2026.

Platts is proposing to decrease the maximum carbon intensity to 23.5g carbon dioxide equivalent (CO2e) per megajoule (MJ), equivalent to a minimum greenhouse gas saving of 75% based on a fossil fuel comparator of 94g CO2e/MJ under the European Commission's Renewable Energy Directive (RED) II framework.

This proposal follows a consultation note first published Aug. 27, 2024, which was later extended in a subscriber note published May 21, 2025, available here.

As part of this proposal, Platts would also make as standard practice the averaging of GHG savings across Proof of Sustainability (PoS) certificates until Dec. 31, 2028. After this point Platts may review PoS to be extended further, based on market feedback. The weighted average of GHG savings across provided PoS certificates for a parcel traded in the Platts Market on Close assessment process should meet a minimum of 75% GHG savings, equivalent to a maximum CI of 23.5g CO2e.

However, individual PoS certificates should not fall below 64.3% GHG savings, equivalent to a maximum CI of 33.52g CO2e, for a minimum 75% GHG saving ethanol parcel, unless mutually agreed otherwise.

At present, Platts T2 ethanol FOB Rotterdam barge assessment reflects product meeting a maximum CI of 33.52g o f CO2e/MJ, or a minimum GHG saving of 64.3% based on a fossil fuel comparator of 94g CO2e/MJ under RED II.

In line with the Renewable Energy Directive III (2030), more EU member states are moving progressively to emissions-based targets, and higher GHG savings are becoming more typical in ethanol production.

Full details on Platts T2 Ethanol assessment can be found in the Global Biofuels specifications guide available here: https://www.spglobal.com/content/dam/spglobal/ci/en/documents/platts/en/our-methodology/methodology-specifications/biofuels/biofuels-specifications.pdf .

Please send any comments or feedback to mrts_biofuelsandfeedstocks@spglobal.com and pricegroup@spglobal.com by Sept. 6, 2025.

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