Biofuels are currently at the centre stage of attention for policy makers and climate concerned end-users seeking more sustainable energy source for sustainable environment. This is because of its potential as an alternative and/or cleaner source of energy. However, questions are being raised about the capability of biofuels to achieve the dual goal of environmental and energy security without jeopardizing global food security. To set realistic target for future biofuel options, it is important to assess biofuel sustainability based on their prospects and implications on critical emerging issues such as energy supply security, climate change mitigation, biodiversity and ecosystem preservation, and food security. This paper presents a review of different governance approaches undertaken by the key actors in the biofuel industry (U.S. and EU) to address these emerging issues and regulate the sustainability of biofuel production. Two of such programmes were examined – The United States Renewable Fuel Standard [U.S. RFS], and the European Union Renewable Energy Directive [EU-RED]. Efforts were made to examine the related environmental and economic implications of their policy initiatives and governance processes with a view to determining their outcomes across a wide range of stakeholders. Emphasis was placed on binding regulations and standardized mechanisms of bilateral and multi-lateral agreements at the global level.
Key Words: Biofuels, Climate change, Renewable energy, Sustainability, Food security, Biofuel polices