The largest biofuel manufacturer in the world, POET, this week announced it has set a novel target of achieving carbon neutrality by 2050. The announcement comes as the major released its sustainability report in which it outlined its renewed focus on Environmental, Social, and Governance (ESG) initiatives such as investing in low-carbon bioproducts and reducing bioethanol’s carbon content by 70%.
The US-headquartered company will also increase the use of renewable sources such as wind and solar at its sites
“Sustainability has always been at POET’s core,” said founder and CEO Jeff Broin in a press release. “We recognize that our planet urgently needs bolder solutions and better results if we hope to restore harmony between human and nature and sustain Earth’s fragile balance for future generations.”
“Now more than ever, it is critical that we embrace the bioeconomy, significantly reduce our dependence on fossil fuels, and harvest our energy from the surface of the Earth,” he added.
The report, titled The Sun, the Soil and the Seed also lays out how the company will work to develop its pipeline of plant-based bioproducts, and says the firm will ‘consider’ carbon reducing technologies, including carbon capture and storage.
“At POET, our solution to the climate crisis lies at the intersection of regenerative agriculture, renewable innovation, and effective public policy,” said Broin. “By outlining our vision for sustainability, we aim not only to position POET for long-term success, but to help blaze a trail toward global decarbonization through net-zero biofuels and bioproducts.”
The US is in the midst of a green push to meet the Biden-Harris administration’s goals. On Tuesday this week (14 September) President Biden expressed optimism at the country’s reaching its climate targets. The remarks follow a spate of natural disasters seen in the US, with flooding in the east and fires in the west, sparking ripples of concern about the country’s climate action.
“Disasters aren’t going to stop, that’s the nature of the climate threat but we know, we know what we have to do. We just need to summon the courage and the creativity to do it,” he said.