Co-op tells firms to look at biofuel impacts

One of the UK’s leading investors, Co-operative Insurance, has told companies that investing in biofuels could jeopardise future profits.

It warned that investing in biofuels could backfire if sustainability criteria are not built into supply chains.

The area of land required to grow biofuels is so great it could cause serious environmental problems if not managed correctly, it said.

While growth in biofuels could have impacts on other sectors by driving up food commodity prices, for example.

It will shortly begin engaging with firms in which it invests to ensure they put strategies in place to mitigate the risks.

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