NWE biodiesel sustainability change, effective February 2012

Following industry feedback and developments on the implementation of the EU Renewable Energy Directive (RED) 2009/28/EC at the member-state level, Platts will refine its Northwest European biodiesel assessments effective February 13, 2012.

As part of this change, Platts will introduce four new assessments to run concurrently with the existing: FAME -10, FAME 0, Soy Methyl Ester (SME) and Rapeseed Methyl Ester (RME.)

These four new assessments -- FAME -10 (RED), FAME 0 (RED), SME (RED) and RME (RED) -- will reflect bids, offers and trades for product that satisfies the sustainability criteria defined in article 17 of the directive.

For these new four assessments the sellers are required to demonstrate compliance with the provisions of the directive by supplying proof of sustainability issued 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.

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