Platts proposes amendment to FAME 0 proof of sustainability requirement

Platts, part of S&P Global Commodity Insights, is proposing to amend the proof of sustainability certification requirement for its FAME 0 assessment, effective Jan. 3, 2023, to exclude palm oil proof of sustainability, or PoS.

Under the proposed change, the FAME 0 FOB ARA premium and outright assessments will only reflect physical material accompanied by PoS documentation for feedstocks other than palm oil. Platts is proposing to exclude palm oil PoS certification from the FAME 0 FOB ARA assessment methodology to reflect changing market conditions, and an evolving legislative environment in Europe where palm oil is being phased out as a biofuel feedstock.

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