Biofuels can provide up to 27% of world transportation fuel by 2050, according to a new report from the International Energy Agency (IEA).

The report says that “the widespread deployment of biofuels can play an important role in reducing CO2 emissions in the transport sector and enhancing energy security, when produced sustainably.”

With the transportation sector growing considerably, and demand for transport fuels rising globally, the IEA assesses biofuels – liquid and gaseous fuels derived from biomass (organic material derived from plants and animals) – as one of the key technologies to reduce CO2 emissions and reduce dependency on liquid transport fuels. The report shows how global biofuel consumption can increase in a sustainable way – one in which production of biofuels brings significant life cycle environmental benefits and does not compromise food security – from 55 million tonnes of oil equivalent (Mtoe) today to 750 Mtoe in 2050; this would mean that the global share of biofuel in total transport fuel would grow from 2% today to 27% in 2050.

According to Bo Diczfalusy, the IEA’s Director of Sustainable Energy Policy, this means that biofuels “will eventually provide one fifth of emission reductions in the transport sector.”

Bliss Baker with the Global Renewable Fuels Alliance (GRFA) says the report’s findings confirm that biofuels can reduce GHG emissions and improve energy security without jeopardizing food security, “(The) report reaffirmed the GRFA’s long standing principle that through the development of new technology and refined industry practices, biofuels can help secure the world’s energy future,” said Baker. “The GRFA also endorses another key IEA action to guarantee funding and support so that advanced biofuel technologies can reach commercial production in the next 10 years and demonstrate their ability to achieve cost and sustainability targets.”

Read the full report here.