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G20 Leaves Biofuels Industry Unscathed

PARIS/REUTERS

The biofuels industry emerged relatively unscathed from a meeting of G20 agriculture ministers June 23, which ignored advice to scrap biofuels subsidies on the basis they force up food prices.

The warning against biofuels targets and subsidies in places such as Europe, Canada, India and the United States had appeared in a report to the G20 by 10 international agencies, including the World Bank and the World Trade Organization.

But agriculture ministers meeting in Paris merely called for further analysis of the impact of biofuels on food availability, price volatility and sustainability.

A communique pledged to “address the challenges and opportunities posed by biofuels, in view of the world’s food security, energy and sustainable development needs.”

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