Malaysia to propose own standard for calculating CO2 formula

Malaysia wants to standardize the way palm oil’s impact on the environment is calculated, senior officials said. Next year the European Union (EU), a top biofuels consumer, will impose a target to only accept biodiesel that can reduce CO2 emissions by at least 35% versus fossil fuel, which risks cutting out palm oil because the EU estimates that it only saves 19%. Malaysian Palm Oil Board Chairman Sabri Ahmad said “We should be the ones coming up with the standard, since we know palm oil best and we have nothing to lose.” Officials say there is no clear timetable when Malaysia will present its own formula for calculating palm oil’s greenhouse gas savings, although a major government-sponsored study due to be presented in November will form the basis of its formula. (October 19, 2009)