Anew age of fuel production is here with the introduction of policy changes pushing refineries to reduce emissions and ultimately achieve net zero goals. These policies include compliance and voluntary carbon markets that play an important role in driving refineries to make investments towards a more sustainable future. The carbon markets utilise tax credits that are available to refineries that can produce fuels in a more efficient and sustainable manner. One avenue to receiving
carbon market tax credits is to improve energy efficiency by reducing emissions generated through utilities. This can be done by measuring and optimising utility consumption, such as fuel gas, steam, cooling water and electricity, and then converting to the equivalent amount of carbon dioxide (CO2) emissions that were reduced. In addition to this, traditional fossil fuel feedstocks can be replaced by feedstocks made from renewable resources that are harder to process, such as
vegetable oils, bioethanol, and animal fats, but that are also eligible as carbon market tax credits.