Why not just play the PAL version?
Also, no, there's no converting... at least not for purposes of submission. If you're curious as to how fast your times would be, I believe it's the usual 5/6 rule. You have to earn the stat if you want to submit it, so if you want to beat those times, either get a megadrive or turn to emulation.
And no, it isn't fair, just like we ignore version differences between SA(DX)/SA and SA2(B)/SA2.