POET established several environmental, social and governance (ESG) goals, including investing in the latest biotechnology, advancing operational efficiencies and promoting a sustainable society through both POET’s business ventures and its philanthropic endeavors. According to a recent study, today’s bioethanol reduces carbon emissions by 46 percent compared to gasoline.
In July, members of the Renewable Fuels Association (RFA) made a commitment to ensuring ethanol achieves a net-zero carbon footprint, on average, by 2050 or sooner.
In a letter to President Biden, RFA’s board of directors wrote that today’s grain-based ethanol is already a low-carbon fuel that is helping to clean up our nation’s transportation fuels. But with smart policy measures, ethanol can do even more. It can serve as an affordable zero-emissions fuel for light-duty cars and trucks, while also helping to decarbonize medium- and heavy-duty vehicles, aviation, marine, and stationary power generation.”
To support the achievement of its goals, RFA encouraged the administration to move forward with several key policy initiatives: development of a national Clean Fuel Standard, support for carbon capture, utilization and sequestration (CCUS) technologies, and deployment of more flex-fuel vehicles.