Action hubs for low carbon fuels launched at COP23
November 14, 2017
The World Business Council for Sustainable Development (WBCSD) has launched below50 hubs in North America, South America and Australia to grow the market for low-carbon fuels in those countries.
Below 50 is a global campaign that brings together the entire value-chain for fuels that produce at least 50% less CO2 emissions than conventional fossil fuels. It aims to increase demand for these fuels by:
increasing the number of companies choosing below50 fuels
Creating inter-sectoral B2B opportunities across supply chains
Demonstrating that below50 fuels makes good economic, social and environmental sense
Addressing legislative and financial barriers to sourcing below50 fuels
The below50 hubs allow companies to engage with the below50 global campaign at the local level. Each hub works on solutions tailored for their regions - including local policy, awareness raising and financing. Every hub is led by a below50 partner and invites companies with an interest in the regional low-carbon fuel market to join.
Participating companies undertake a self assessment and commit to below50's sectoral requirements, and after submitting evidence of activities that meet the below50 criteria, they are considered for approval and recognition.
Speaking at the launch at COP23 in Bonn, Larissa Rose, Managing Director of the Queensland Renewable Fuels Association (QRFA), host of the below50 hub in Australia, described below50 Australia as “a unique opportunity to rapidly scale-up the production, use and export of below50 fuels.”
Ms. Rose underlined the value of a connected global approach commenting that “establishing the regional below50 hubs today sends a strong signal that builds confidence, demonstrating the rise of a low-carbon fuels industry that is essential for reducing emissions in the transport sector.”
WBCSD is a global, CEO-led organization of over 200 leading businesses working together to accelerate the transition to a sustainable world.