The report finds that the cost of biofuel subsidies was between €9.3bn and €10.7bn in 2011, yet estimates of environmental, social and economic impacts show only marginal benefits at best. Therefore the report casts doubt on the wisdom of supporting biofuels in the future.
CORRECTION NOTE: On 23 August 2013, the International Institute for Sustainable Development (IISD), author of the study, corrected the estimates of the public support the EU biofuels industry received in 2011. The revised overall estimate for EU biofuels subsidies is now €5.5-6.9 (average 6.2) billion per year, and not €9.3-10.7 (average 10) billion per year, as originally published in April 2013. According to IISD, the revision is due to a calculation error on the volume of biofuels eligible for tax exemptions in certain countries. All other estimates remain the same, including the those for the cost of consumption mandates which make up the largest type of public support. "The conclusions and recommendations presented in the original report also remain unchanged", IISD stated in its Addendum.
For a detailed explanation of this correction including all calculations in full, please see here. A revised version of the complete study will be published in the week commencing on 26 August.