below50 - Sustainable fuels
Grow the market for the world’s most sustainable fuels
Low-carbon fuels have huge potential for increasing fuel efficiency, reducing costs and cutting emissions. And the time for creating a global market for these fuels has never been better.
below50, brought to you by the World Business Council for Sustainable Development (WBCSD), aims to create demand for low-carbon fuels and scale up their deployment by increasing the number of companies choosing sustainable alternative fuels. This will create cross-sectoral opportunities along supply chains, while addressing legislative and financial barriers to bring these fuels into the mainstream.
below50 brings together companies and organizations who commit to growing the global market for the world’s most sustainable fuels – that is fuels producing at least 50% less CO² emissions than conventional fossil fuels.
How Companies can engage in this initiative
- Companies that produce, use and/or invest in fuels that are at least 50% less carbon intensive than conventional fossil fuels can sign up to the approval process for joining below50.
- In order to be approved, companies must demonstrate an existing commitment to sustainable fuels with evidence of steps taken to meet the commitment.
- Companies must publicly commit to the campaign, show evidence that supports their claim, and disclose their progress towards achieving this goal on a yearly basis.
- Answer the online self assessment based on your sector, and provide evidence of your commitment to sustainable fuels.
Whether you operate on the demand side, the supply side or are a technology enabler, you have a different role to play in growing the market, and therefore a different sectoral commitment to below50.
The Business Case
1. Access early business opportunities
The new global market for sustainable fuels is expected to reach US$185 billion by 2021. The below50 companies and organizations are set to be instrumental in that growth and will be best positioned to maximise new opportunities.
2. Combat climate change
The potential for sustainable fuels to reduce global emissions is huge and can help companies reach ambitious emissions reduction targets. For example, biofuels alone are predicted to reduce CO2 emissions by around 500 million tons by 2030.
3. Demonstrate leadership
Companies can showcase their leadership by driving the development of the world’s most sustainable fuels, forging new markets in the process and being part of a global movement.
4. Grow the sustainable fuels network
By engaging with below50, companies and organizations will be better able to work collaboratively across sectors to generate solutions and be connected with customers, suppliers, policy makers and other key stakeholders.
5. Engage with policy makers
Joining the collaborative effort to scale up the sustainable alternative fuels market will help to present a clear direction of travel for policy makers to engage with and ratchet up ambition, with the backing of key industry players.