biofuels

New Report States Biofuels Essential to Success of Canada’s Clean Fuel Standard

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Renewable Industries Canada and Advanced Biofuels Canada recently released the results of a new study on the economic impact of Canada’s upcoming Clean Fuel Standard.
New Report States Biofuels Essential to Success of Canada’s Clean Fuel Standard

The study, Impact Assessment of Clean Fuel Standards on the Canadian Economy, states that biofuels could be responsible for as much as 21.3 megatonnes (MT) per year of greenhouse gas emission reductions by 2030 – approximately 70 percent of the 30 MT target set by the federal government. On this basis, study author, Doyletech Corporation, concludes that meeting the increased demand for biofuels with domestic production would:

  • have a one-time construction phase impact of $9.6 billion and 47,100 job-years during the build-out period; and
  • bring an increase of $21.3 billion per year in economic activity and 12,614 permanent jobs.

 “This objective report provides yet more evidence that the Canadian biofuels industry can play a major role in further reducing greenhouse gas emissions from transportation, while creating jobs and economic growth,” said Jim Grey, RICanada Chair. “Our biofuels sector is poised to grow and build upon our past successes.”

Ian Thomson, ABFC President, stated that, “This study shows how a robust CFS can benefit Canadians in agriculture and forestry, as well as provide new, economical solutions for urban and industrial wastes. If we had tallied lower health bills from cleaner air in our cities, the benefits would be even larger.”

A statement from RICanada states, “Fighting pollution with biofuels already generates an estimated $3.5 billion worth of annual economic activity, and has created over 14,000 jobs (Doyletech 2013).   A wave of innovation is building upon the successes of the last few decades as the industry continues to provide Canadians with renewable, clean-burning biofuels such as ethanol and biodiesel – and bring new low-carbon biofuels to the front line of the fight against climate change.”

An executive summary of Doyletech Corporation’s economic impact assessment can be found here RICanada.

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