GENEVA—August 13, 2013—The International Institute for Sustainable Development (IISD) has revised down its estimate of the subsidies the European Union member states provide to the biofuels sector.

The report, Biofuels—At What Cost? A review of costs and benefits of EU biofuel policies, issued in April, estimated excise tax exemptions to the biofuels sector were €5.8 billion in 2011. The revised estimate is between €2 and €2.5 billion.

An addendum with a corrected subsidy estimate will be published on August 23, 2013 at www.iisd.org/gsi.

IISD apologizes for the error and any confusion it has caused.

For more information, contact Chris Charles at +41 22 917-8595 or Damon Vis-Dunbar at +41 22 917-8848.