Renewable Diesel Driving Low Carbon Results
Global Low-carbon Fuel Policies Driving Demand
Growth for Renewable Diesel
Active Low-carbon
Mandates
Carbon Mandates
in Development or
GHG Emissions Goal
2030 GHG Emissions
Reduction Target
Net-zero GHG
Emissions Target
California
40%
Net-zero by 2045
Primary Transportation Fuel
Policy Mechanism
Low Carbon Fuel Standard
(LCFS)
2030 Liquid Fuels Goal
Reduce the carbon intensity of transportation
fuels by at least 20%
Canada
30%
Net-zero by 2050
40%
Net-zero by 2050
Clean Fuel Standard (CFS) -
enforcement expected 2022
Renewable Energy Directive II
(RED II)
Reduce the carbon intensity of transportation
fuels by ~13%
EU
•
Other Policies
•
in Place
Potential
Policies
•
Replace 14% of transport fuels with renewable
energy
Oregon's Clean Fuels Program requires a 10% carbon intensity reduction by 2025; has proposed a 25% reduction by 2035
Washington State's legislature has passed an LCFS that requires a 20% carbon intensity reduction by 2038
British Columbia and Ontario have existing low-carbon fuels policies
Sweden currently has a 21% GHG reduction requirement for diesel in 2020, with further reductions proposed
Finland aims for 30% of transport fuels to be biofuels by 2030
New York continues to evaluate an LCFS in order to meet its goal of reducing emissions 85% by 2050
New Mexico, Minnesota and other Midwest states are exploring renewables mandates
INVESTOR PRESENTATION | JUNE 2021
California Renewable
Diesel Consumption
(million gallons)
589
113
2014
2015
2016
2017
2018
2019
2020
LCFS Credit Price
(monthly average, $ per metric ton)
$200
$100
$0
Source: California Air Resources Board. LCFS credit
price through March 2021.
Valero
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