UNCTAD has established a taskforce to help nations co-ordinate the production, trade and use of biofuels, working in conjunction with other UN bodies, non-government organisations and private industry.
The initiative is intended to prevent developing nations turning to fossil fuels as a shortcut to prosperity, focusing on the trade and commerce benefits that can be obtained by taking advantage of a global shift towards environmentally friendly energy sources.
Biofuels have the advantage of being sourced from the primary industry sector, allowing nations to kick-start their production with minimal technical and infrastructure requirements.
The Biofuels Initiative will be linked to UN efforts to have environmental goods and services benefit from reduced tariff barriers, hopefully providing developing nations an opportunity to secure themselves a productive role in global trade.
