European ethanol, biodiesel sustainability criteria change

Following developments on the implementation of the EU Renewable Energy Directive (RED) 2009/28/EC at a the member-state level, Platts proposes to refine its European ethanol and biodiesel assessments.

As of January 3, 2012, Platts proposes to only consider for its Market on Close assessment process price indications where the seller must provide documentation that satisfies the sustainability criteria defined in article 17 of the directive. The seller is required to demonstrate compliance with the provisions of the directive by supplying certificates issued by any EC-approved voluntary scheme or by an independent audit performed in accordance with the guidelines referred to in the directive.

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

The assessments effected by this change will be fuel grade ethanol T1 (AAWUQ00 and AAYDS00), fuel grade ethanol T2 (AAYDT00), biodiesel FAME -10 (AAWGY00), FAME 0 (AAXQL00), Soy Methyl Ester (SME) (AAUCB00) and Rapeseed Methyl Ester (RME) (AAUCA00).

Please provide feedback by October 12 to petchems@platts.com with copy to pricegroup@platts.com.