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Investing.com - Deutsche Bank (ETR:DBKGn) lowered its price target on VERBIO Vereinigte BioEnergie AG (ETR:VBKG) (ETR:VBK) to EUR15.00 from EUR17.00 while maintaining a Hold rating on the stock.
The adjustment follows Germany’s publication of a draft bill on June 19, 2025, implementing the European Union’s Renewable Energy Directive (RED III). The draft expands Germany’s existing greenhouse gas quota system to cover the entire transportation sector and establishes reduction targets through 2040.
Key changes in the draft bill include the elimination of double counting for advanced biofuels, though it increases the minimum quota for these fuels. The legislation also excludes soy oil- and palm oil-based fuels from eligibility under the new framework.
The draft additionally adjusts credit limits for both crop-based and waste-based biofuels and implements on-site inspections designed to prevent fraud in the biofuel supply chain.
Germany’s implementation plan introduces a minimum quota for renewable fuels of non-biological origin (RFNBOs), with requirements set to increase significantly by 2040.
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