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Key lawmaker proposes new EU biofuel target

4/07/2008 - 18:32
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TARGET 67,17 +0,73%

PARIS (Reuters) - A key European Union lawmaker said on Friday he had broad parliamentary backing to propose changing the EU's target for biofuels so that 4 percent of road transport fuels come from renewable sources by 2015.

Claude Turmes told Reuters one-fifth of renewable fuels would have to be either second generation biofuels or electric vehicles, and there would be a major review in 2015 to decide whether to move towards an 8 to 10 percent TARGET (TGT.NY)in 2020.

Turmes is leading legislation on renewable energy through the European Parliament. EU leaders last year agreed on a goal of drawing 10 percent of transport fuels from biofuels by 2020 but the target has come under attack from campaigners who say it is pushing up food prices and will cause deforestation.

(Reporting by Pete Harrison, editing by Paul Taylor)

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