Platts proposes increase in minimum GHG savings in Biodiesel RME, FAME 0, PME, SME and FAME -10 FOB ARA assessments

Following a formal public consultation, S&P Global Platts is proposing a change to the specification of greenhouse gas (GHG) savings for Platts RME, FAME 0, PME, SME and FAME-10 FOB ARA assessments to reflect material with sustainability documentation showing a minimum GHG savings of 60% when compared with the fossil fuel comparator, as per the EUs Renewable Energy Directive calculation.

Platts public consultation subnote on European biodiesel methodology can be found here: Platts extends feedback period on European biodiesel methodology | S&P Global Platts (spglobal.com)

The proposed change to Platts assessments from 50% minimum GHG savings to 60% minimum GHG savings will therefore reflect product meeting a maximum carbon intensity (CI) of 33.52g of carbon dioxide equivalent (CO2e) per megajoule (MJ).

This is equivalent to a minimum GHG saving of 60% based on a fossil fuel comparator of 83.8g CO2e/MJ under the European Commissions Renewable Energy Directive (RED) I framework, or GHG savings of 64.3% based on the RED II fossil fuel comparator of 94g CO2e/ MJ.

The fossil fuel comparator, which is used to calculate GHG savings, is due to change from 83.8gCO2eq/MJ under RED I to 94gCO2eq/MJ under RED II. Platts RME, FAME 0, PME, SME and FAME -10 FOB ARA assessments currently reflect material with sustainability documentation showing a minimum GHG saving of 50%.

This is equivalent to a maximum carbon intensity (CI) of 41.9gCO2eq/MJ when compared with the fossil fuel comparator of 83.8gCO2eq/MJ. GHG savings in the EU are measured as an absolute level of carbon intensity (CI), or as a percentage GHG saving compared to the fossil fuel comparator.

Platts biodiesel specifications can be found in pages 6-7 of the methodology document:

https://www.spglobal.com/platts/PlattsContent/_assets/_files/en/our-methodology/methodology-specifications/global_biofuels.pdf

Please send any further feedback, comments or questions to europe_ags@spglobal.com and pricegroup@spglobal.com. For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing.

Platts will consider all comments received and will make comments not marked as confidential available to the public upon request.