PM Modi launches Global Biofuels Alliance

In the presence of US President Joe Biden, Presidents Luiz Inacio of Brazil, Alberto Fernández of Argentina, and Giorgia Meloni of Italy, PM Narendra Modi launched the Global Biofuels Alliance on Saturday.

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One of India’s initiatives for the G20 Presidency is the Global Biofuel Alliance. Leading biofuel producers and users Brazil, India, and the United States will collaborate over the next months to create a Global Biofuels Alliance with other interested nations.

The objective of this alliance will be to promote collaboration and increase the use of sustainable biofuels, notably in the transportation industry. It will focus on boosting markets, easing international commerce in biofuels, creating practical policy lesson-sharing, and offering technical support for national biofuels programs around the world.
Additionally, it will highlight the best practices and success stories that have previously been used.

The Alliance shall cooperate with and support initiatives in the fields of bioenergy, bio-economy, and energy transition more broadly, including the Clean Energy Ministerial Biofuture Platform, the Mission Innovation Bioenergy initiatives, and the Global Bioenergy Partnership (GBEP), as well as pertinent existing regional and international agencies.

In partnership with pertinent industry organizations, the GBA will be a capable body that will establish technical standards for the Sustainable Aviation Fuel (SAF) business.
The alliance will consist of member nations, partner organizations, and industries under a three-category membership structure.

The alliance will establish international best practices for the creation and use of sustainable biofuels and bioproducts to improve international collaboration and cooperation for the quick adoption of biofuels. A total of 19 nations have agreed to join India as founding members of the Global Biofuels Alliance.

In a research released in July, the International Energy Agency estimated that to get the world’s energy system on pace for net zero emissions by 2050, worldwide sustainable biofuel output would need to triple by 2030.

India, the third-largest importer and consumer of crude oil in the world, imports roughly 85% of its crude requirements while progressively expanding its capacity to produce more biofuels.
India is increasing the use of biofuel in its transportation industry and aims to be carbon neutral by the year 2070. The target date for increasing countrywide ethanol blending in petrol to 20% has been moved forward five years to 2025.

The alliance will assist by supporting the supply of technical support for national biofuels initiatives around the world, fostering the development of practical policies for lesson-sharing, and fostering the trade of biofuels globally.

The G20 Leaders’ Summit Declaration, which was agreed on Saturday, focuses on fostering robust, sustainable, balanced, and inclusive growth, according to External Affairs Minister S. Jaishankar.

Speaking at a joint press conference, Jaishankar stated that the Declaration has an action plan in place to expedite progress towards the Sustainable Development Goals.

The declaration that today’s leaders adopted emphasizes the promotion of robust, sustainable, balanced, and inclusive growth. It has created an action plan in line with that goal and tries to quicken SDG development, according to the minister.

“It envisages a green development pact for a sustainable future, it endorses high-level lifestyle principles 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 continued.