Climate Action – Envisioning and Financing Our Future
“We need to decarbonise transport now, not in 10 years’ time,” said James Hygate, CEO of Green Fuels, addressing the India Global Forum in London. “Governments need to stop subsidising fossil fuels”. Echoing HRH the Prince of Wales, who also addressed the conference, Hygate stressed that government action is essential to promote investor confidence in clean energy projects.
India is in many respects leading the way, said Hygate, with ambitious policies to repurpose used cooking oil and demand a blend mandate in its fuel supply. Green Fuels is in the process of establishing waste-to-fuel refineries across India, with the expectation of saving a million tonnes of carbon a year by 2050.
While electrification may be the long-term answer to decarbonising road transport, Hygate explained, waiting for the infrastructure, for the vehicle fleet to be renewed and for the electricity supply to be fossil-free will take many years. And even when that has happened, sectors such as aviation and shipping will still need liquid renewable fuels.
In his remarks, Prince Charles highlighted the launch of Terra Carta, which is the mandate for his Sustainable Markets Initiative (and to which Green Fuels is a signatory), focusing particularly on the drive towards zero carbon and the need for global government action on a 10% blend mandate for sustainable aviation fuel by 2030, to promote investor confidence in building refining capacity around the world.
About Green Fuels
Green Fuels is a pioneer in renewable fuels. Founded in 2003, Green Fuels has supplied biofuel equipment with aggregate capacity equating to $500bn in fuel sales to customers in more than 80 countries. Identifying aviation and marine as strategic fuel markets of the future, Green Fuels Research was established in 2014 to develop IP in these areas.The group has attracted £12m in direct and indirect research grant funding to date, with R&D facilities in Berkeley, Gloucestershire.
Green Fuels was awarded a Royal Warrant of Appointment to HRH the Prince of Wales in 2013 and has participated in many pioneering events in its field including the first 100% biofuel-powered jet flight and the first 100% biofuel-powered train.
Green Fuels is headquartered in Gloucestershire, UK, with offices in London, Mumbai, Muscat and Rio de Janeiro.
Julian Beach, Business Development Director
+44 7715 674987