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:
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