This paper tries to identify under which conditions voluntary certification could be an answer to the governance of sustainability at global level. The study addresses the case of biofuel sustainability certification in Brazil and the role of the EU Directive on biofuels. The case study has permitted to identify and analyze some of these factors as the degree of dependence from foreign market, the policy environment, the structure of the supply chain, the benefits and costs associated to certification as well as some unintended consequences. The research has been conducted through a case study in the state of Sao Paolo (Brazil).