THE MULTILATERAL TRADE AND INVESTMENT CONTEXT FOR BIOFUELS: ISSUES AND CHALLENGES. By Sophia Murphy. Institute for Agriculture and Trade Policy and International Institute for Environment and Development, April 2008. This paper looks at the multilateral trade and investment context for biofuels. Biofuels are a relatively new arrival in the world of global trade, though not quite so new to investors. A few countries, notably Brazil, have a biofuel industry that dates back to the 1970s, but it is only in the last few years that biofuels have captured the headlines and really taken off. The production, investment and the time given to biofuels on the policy agenda have all increased exponentially since 2003. For some, biofuels are creating an exciting opportunity to develop new markets and boost depressed commodity prices, to give farmers and rural communities an independent source of energy or a way to combat climate change by diminishing reliance on fossil fuels. For others, biofuels are a classic case of “greenwash,” a product sold as good for the environment that in practice does nothing to challenge the unsustainable nature of either the global energy or agricultural policies. To further confuse the issue, the technology to produce the biofuels now commercially available is widely expected to give way to a so-called “second-generation” of biofuels that will perform better from an environmental perspective because the feedstocks involved use less inputs, because more of the plant can be used to generate energy, and because a greater variety of feedstocks can be used, so that the feedstocks can be more appropriate to local growing conditions. The new wave of biofuels, however, could raise their own set of concerns from an environmental and social policy perspective. This paper outlines the different interests of the largest players in the biofuel market, including the US, EU and Brazil, and analyzes biofuel trade within the context of World Trade Organization rules, specifically regarding agriculture, environmental goods, services, patents and investment. The paper is available online at http://www.iatp.org/iatp/publications.cfm?accountID=451&refID=102282. RISING FOOD PRICES: A GLOBAL CRISIS. By Steve Wiggins and Stephanie Levy. Overseas Development Institute, 2008. Soaring food prices pose problems for three groups. First, the poor whose ability to buy food is undermined. Second, governments of low-income countries facing higher import bills, soaring costs for safety net programmes and political unrest. Third, aid agencies juggling increased demands for food, cash and technical advice. High food prices threaten the gains made since the 1960s and highlight the long-term need for investment in, and better management of, the global food supply. This Paper examines the causes of rising food prices, expected trends, the likely impact, and possible policy responses. The paper is available online at http://www.odi.org.uk/publications/briefing/bp37-april08-rising-food-prices.pdf. RESPONSIBLE ENTERPRISE, FOREIGN DIRECT INVESTMENT, AND INVESTMENT PROMOTION. By Annie Dufey and Maryanne Grieg-Gran. International Institute for Environment and Development, 2008. Foreign direct investment (FDI) is widely considered to be a key factor in economic development in middle and low income countries. Positively, it can be associated with the introduction of new technologies, job creation, access to new markets and improvements in the competitiveness of host countries. But too often, FDI has been associated with environmental degradation, increased inequality, and lack of integration with the local economy. A number of host country government departments have a role in influencing the overall investment climate. Among them, Investment Promotion Agencies (IPAs) are often players because they are in the front line of targeting investors and marketing the country as a whole. This book brings together a series of papers identifying opportunities for IPAs to attract FDI that is associated with positive contributions to sustainable development and good corporate social responsibility practices. The papers are written by IIED researchers and other sectoral experts, multilateral organizations working closely with IPAs in attracting FDI, and representatives of IPAs themselves. The book points to a number of opportunities for IPAs in attracting FDI with good CSR practices and highlights key leverage points and practical tools to achieve this. It is intended to provide a primer for investment promotion agencies and pointers for approaches that could be deployed in the future. To purchase the book, please visit the IIED website at http://www.iied.org/pubs/display.php?o=15511IIED.