Can individual labs formulate their own procedure for disposal of chemicals or is there a universally recognized system of procedures for disposal of chemicals?
How about drinking it? But seriously: Ethanol is one of the very natural substances, so harmless that is drinkable (unless consumed in excess). When exposed to bacteria in diluted state, it biodegrades further to diluted acetic acid, another natural and harmless substance. If you have it in more or less pure form, you can pour it into your fuel tank, but not more than 17% of the fuel - the excess would stay as a separate phase, causing engine trouble. Use your judgement about compatibility of whatever else is in your ethanol - if a cleanly-burnable, non corrosive organic, may (?) be OK.