The new era of advanced biofuels in the face of regulatory uncertainty and investment needed for production

Abstract

Abstract At this moment, environmental protection is the subject of almost daily debate, both in European and global forums. The most important thing is to find ways for countries to limit their carbon footprint as quickly as possible. Moreover, it should also be borne in mind that it is not desired that these options affect the daily life of individuals. These variants must be in line with the standards of living and needs that society has now. Ideally, this transition between the current options and the future options should be as seamless as possible so as not to create resistance to change in society. The transition to the new sustainable options should be phased in over a longer period, although the situation calls for rapid change with a major impact. The situation becomes even more challenging as the COVID-19 pandemic has brought major changes for companies around the world in the last two years. Not all governments have managed this crisis as well, and this uncertainty is now being reflected in investments in most sectors. Investment in new technologies, as far as the fuel industry is concerned, has been in question because of the uncertainty and rapid changes that society has experienced. This article is intended to highlight the major importance that these advanced biofuels can have for the environment, as well as the long-term sustainability they offer. The methodology of the paper is based on studies and indicators. For example, the company Clariant, as its contribution is well highlighted by the business direction it has towards biofuel technologies. In terms of literature, the subject is quite popular, but articles and papers are limited in number.