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Biofuels and environment
Leading investors have joined the growing chorus of concern about governments and companies rushing into producing biofuels as a solution forglobal warming, saying that many involved in the sector could be jeopardizing future profits if they do not consider the long-term impact of what they are doing carefully.It is essential to build sustainability criteria into the supply chain of any green fuel project in order to ensure that there is no adverse effect on the surroundingenvironment and social structures. The report produced by the investors express concern that many not be fully aware of the potential pitfalls in the biofuel sector.Production of corn and soya beans has increased dramatically in the last years as an eco-friendly alternative to fossil fuels but environmental and human rights campaigners areworried that this will lead to destruction of rain forest. Food prices could also go up as there is increased competition for crops have dangerous side effects and saidthat steps need to be taken to make sure that land converted to grow biofuels does not damage the environment of cause civil unrest. There is already great concern about palmoil, which is used in many foods in addition to being an important biofuel, as rain forest are being cleared in some countries and people driven from their homes tocreate palm oil plantations.
An analyst and author of the investors’ report says that biofuels are not a cure for climate change but they can play their part as long asgovernments and companies manage the social and environmental impacts thoroughly. There should also be greater measure taken to increase efficiency and to reduce demand.
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