In India, Prime Minister Shri Narendra Modi, along with the leaders of Singapore, Bangladesh, Italy, the United States, Argentina, Mauritius, and the United Arab Emirates, launched the Global Biofuel Alliance (GBA) on the sidelines of the G20 Summit in New Delhi.
The Global Biofuel Alliance (GBA) is an initiative by India as the G20 Chair and seeks to develop an alliance of governments, international organizations, and industry to facilitate the adoption of biofuels.
The Alliance intends to expedite the global uptake of biofuels by facilitating technology advancements, intensifying the utilization of sustainable biofuels, and shaping robust standard setting and certification through the participation of a wide spectrum of stakeholders.
The alliance will also act as a central repository of knowledge and an expert hub. GBA aims to serve as a catalytic platform, fostering global collaboration for the advancement and widespread adoption of biofuels.
Bringing together the biggest consumers and producers of biofuels to drive biofuel development and deployment, the initiative aims to position biofuels as a key to energy transition and contribute to jobs and economic growth.
The Prime Minister, Shri Narendra Modi thanked member nations who have joined the Global Biofuels Alliance.
The launch of the Global Biofuels Alliance marks a watershed moment in our quest for sustainability and clean energy. I thank the member nations who have joined this Alliance, said Prime Minister Modi sharing a social media post by Union Minister of Petroleum and Energy, Shri Hardeep Puri.
Support global biofuel development
声明称,全球乙醇标记t was valued at US$99.06 billion in 2022 and is predicted to grow at a CAGR of 5.1 percent by 2032 and surpass US$162.12 billion by 2032.
GBA Members constitute both major producers and consumers of biofuels – combined, the United States (52 percent), Brazil (30 percent), and India (3 percent), account for about 85 percent of production and about 81 percent of consumption of ethanol.
The GBA will support the worldwide development and deployment of sustainable biofuels by offering capacity-building exercises across the value chain, technical support for national programs, and promoting policy lessons-sharing.
It will facilitate mobilizing a virtual marketplace to assist industries, countries, ecosystem players, and key stakeholders in mapping demand and supply, as well as connecting technology providers to end users.
It will also facilitate the development, adoption, and implementation of internationally recognized standards, codes, sustainability principles, and regulations to incentivize biofuels adoption and trade.
Strengthen India’s position
For India, the initiative will be beneficial as a tangible outcome of India’s G20 Presidency and will help strengthen India’s position globally.
Moreover, the alliance will focus on collaboration and will provide additional opportunities to Indian industries in the form of exporting technology and exporting equipment.
It will help accelerate India’s existing biofuel programs such as PM-JIVANYojna, SATAT, and GOBARdhan scheme, thereby contributing to increased farmers’ income, creating jobs, and overall development of the Indian ecosystem.
At the launch in New Dehli, 19 countries and 12 international organizations have already agreed to join the GBA.
The countries comprise G20 Countries: Argentina, Brazil, Canada, India, Italy, South Africa, and the United States; G20 Invitee Countries: Bangladesh, Mauritius, Singapore, and the United Arab Emirates; Non-G20 Countries: Finland, Iceland, Kenya, Guyana, Paraguay, Seychelles, Sri Lanka, and Uganda.
International organizations comprise the World Bank, Asian Development Bank, World Economic Forum, World LPG Organization, UN-Energy for All, UNIDO, Biofutures Platform, International Civil Aviation Organization (ICAO), International Energy Agency (IEA), International Energy Forum, International Renewable Energy Agency (IRENA), World Biogas Association.