Nineteen countries agreed to stand with India as initiating members of the Global Biofuels Alliance.
PM Narendra Modi on Saturday launched the Global Biofuels Alliance in the presence of US President Joe Biden, President of Brazil Luiz Inacio, President of Argentina, Alberto Fernández and Prime Minister of Italy Giorgia Meloni.
The Global Biofuel Alliance is one of the priorities under India’s G20 Presidency.
Brazil, India, and the United States, as leading biofuel producers and consumers, will work together during the next few months towards the development of a Global Biofuels Alliance along with other interested countries.
This Alliance will be aimed at facilitating cooperation and intensifying the use of sustainable biofuels, including in the transportation sector. It will place emphasis on strengthening markets, facilitating global biofuels trade, developing concrete policy lesson-sharing and providing technical support for national biofuels programs worldwide.
It will also emphasize the already implemented best practices and success cases.
The Alliance shall work in collaboration with and complement the relevant existing regional and international agencies as well as initiatives in the bioenergy, bioeconomy, and energy transition fields more broadly, including the Clean Energy Ministerial Biofuture Platform, the Mission Innovation Bioenergy initiatives, and the Global Bioenergy Partnership (GBEP).
GBA will be a competent organisation that will set technical standards for Sustainable Aviation Fuel (SAF) business in collaboration with relevant industry bodies.
The alliance will have a three-category membership structure bringing together member countries, partner organisations and industries.
The alliance will work towards enhancing global collaboration and cooperation for the accelerated adoption of biofuels by identifying global best practices for the development and deployment of sustainable biofuels and bioproducts.
Nineteen countries agreed to stand with India as initiating members of the Global Biofuels Alliance.
The International Energy Agency estimates in a July report that global sustainable biofuel production would need to triple by 2030 to put the world’s energy system on track towards net zero emissions by 2050.
India, the world’s third-biggest oil importer and consumer, imports about 85 per cent of its crude needs and is gradually building capacity to increase its output of biofuels.
India is targeting to become carbon neutral by 2070 and is expanding the use of biofuel in its transport sector. It has advanced the deadline by five years to 2025 for doubling nationwide ethanol blending in gasoline to 20 per cent.
The alliance will help by encouraging global biofuels trade, developing concrete policies on lesson-sharing and promoting the provision of technical support for national biofuels programmes worldwide.
Meanwhile, External Affairs Minister S Jaishankar has said that the G20 Leaders’ Summit Declaration adopted on Saturday focuses on promoting strong, sustainable, balanced and inclusive growth.
Addressing a joint press conference, Jaishankar said the Declaration seeks to accelerate progress on Sustainable Development Goals and has come up with an action plan accordingly.
“The declaration the leaders have agreed on today focuses on promoting strong, sustainable, balanced and inclusive growth. It seeks to accelerate progress on SDGs and has come up with an action plan accordingly,” the minister said.
“It envisages a green development pact for a sustainable future, it endorses high-level principles on lifestyle for sustainable development, voluntary principles of hydrogen, the Chennai principles for a sustainable resilient blue economy and the Deccan principles on food security and nutrition among others,” he added. (ANI)
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