Germany Blocks Oil Companies From Using Past Emissions Credits

, a move that will boost the country’s biofuel industry which has been impacted by a rapid drop in carbon prices in recent years. In recent years, oil companies operating in Germany have met emissions goals by selling extra biodiesel; with sales clocking in at 3.4 million metric tons in 2022, 34% above their target.

However, concerns arose over a year ago when doubts arose about whether some of these projects met the required standards or even existed As many of the world’s governments continue pushing to a greener future, the energy transition is colliding with another challenge facing the world as it struggles to emerge from the pandemic skyrocketing food prices. Many energy companies plan to increase their biofuel capacity by 2030, mainly using crops like corn and soybean oil as a major feedstock.

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