Ottawa, ON (GLOBE NEWSWIRE) - Building on the success of current biofuel mandates, Renewable Industries Canada (RICanada) applauds Ontario’s leadership in increasing blending requirements for ethanol in gasoline to 10% by 2020. The expanded mandate is a made-in-Ontario solution to greenhouse gas (GHG) emissions that improves air quality in a way that is both practical and effective.
Once fully implemented, the ethanol mandate will reduce Ontario’s transportation sector emissions by 1.7 megatonnes, bringing Canada one step closer towards meeting our Paris Accord objectives. The new regulation also stipulates that ethanol used in the province will need to reduce GHG emissions by at least 45% on average compared to gasoline, ensuring a strong market for high quality ethanol.
Ontario’s biofuels industry already has an economic impact of over $1.75 billion per year - a number that will grow to $2.5 billion per year in 2020, demonstrating that the market certainty provided by biofuel mandates benefits the Ontario economy. Expanded biofuel use will foster new economic investments by Ontario producers and encourage them to continue to grow their business, improve efficiency, and increase production.
“Ontario is at the forefront of the fight against climate change. When fully phased in, Ontario’s expanded blending requirement will be the environmental equivalent of taking almost 350,000 cars off the road,” said Jim Grey, Chair of the Board of Directors and CEO of IGPC Ethanol, Inc. "Based on third party analysis the new regulation will also create up to $750 million per year in economic activity within the biofuel sector."
“Ethanol is the lowest cost, greenest source of octane for gasoline. Therefore, incorporating more ethanol into the gasoline supply must be part of any long-term sustainable plan for GHG reduction,” said Greenfield Global President and CEO Howard Field. “The move to 10% ethanol will lower gasoline prices for consumers, encourage emerging low carbon fuel technologies, and give a lift to rural communities in the province. It’s imperative that other jurisdictions, across Canada follow Ontario’s lead when considering their fuel standards.”
RICanada looks forward to further engagement with the Government of Ontario to continue to refine and expand the province’s biofuel requirements.
Founded in 1984, Renewable Industries Canada (RICanada) is a non-profit organization with a mission to promote the use of value-added products made from renewable resources through consumer awareness and government liaison activities.
© 2018 GlobeNewswire, Inc. All Rights Reserved.
SOURCE: Renewable Industries Canada