PM Modi launches Global Biofuel Alliance; What is it and why is it important?
Besides India, the initiating members include Argentina, Bangladesh, Brazil, Italy, Mauritius, South Africa, the UAE and the US, while Canada and Singapore are observer countries.
India has launched Global Biofuel Alliance at the G20 summit in New Delhi to boost the use of cleaner fuels. Prime Minister Narendra Modi while launching the alliance urged G20 nations to join the initiative with a plea to take ethanol blending with petrol globally to 20%. The Global Biofuel Alliance was one of the priorities under G20 as India has been pushing for reducing the dependency on oil imports and achieve net zero emissions.
Alliance was launched with a host of global leaders including US President Joe Biden
The alliance was launched with a host of global leaders including US President Joe Biden, Brazilian President Luiz Inacio Lula da Silva, Bangladesh Prime Minister Sheikh Hasina and Italian Prime Minister Giorgia Meloni on the sidelines of the G20 Summit. The initiating members include Argentina, Bangladesh, Brazil, Italy, India, Mauritius, South Africa, the UAE and the US, while Canada and Singapore are observer countries.
The Global Biofuel Alliance aims at facilitating trade in biofuels from sources including animal and plant waste and use of sustainable biofuels across sectors. Its focus is primarily on strengthening markets, encouraging trade, facilitating global biofuel trade, developing concrete policy lesson-sharing and providing technical support for national biofuel programmes worldwide.
It will work and co-operate with regional and international agencies 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 Bioenergy Partnership, a government statement said.
This initiative is aimed at helping India’s transition to biofuels and cut its oil import bill as well as achieve its net zero carbon emissions goal. Prime Minister Modi had earlier said that India’s proposal for alliance on biofuels among members of the Group of 20 major economies would help accelerate sustainable biofuels deployment in support of the global energy transition.
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