Global Biofuels Alliance Launched by PM Modi with US President Biden, Brazilian and Argentine Presidents, and Italian PM
Global Biofuels Alliance Launched by PM Modi with US President Biden, Brazilian and Argentine Presidents, and Italian PM

New Delhi: In a significant development, Prime Minister Narendra Modi inaugurated the Global Biofuels Alliance in the presence of US President Joe Biden, Brazilian President Luiz Inacio, Argentine President Alberto Fernández, and Italian Prime Minister Giorgia Meloni. This initiative is a top priority under India's G20 Presidency, with Brazil, India, and the United States, leading biofuel producers and consumers, collaborating to establish the Global Biofuels Alliance. The primary objective of this alliance is to promote cooperation and the sustainable use of biofuels, particularly in the transportation sector.

Key aspects of the Global Biofuels Alliance include strengthening markets, facilitating global biofuels trade, sharing policy lessons, and offering technical support for national biofuels programs worldwide. The alliance will also highlight best practices and successful cases. The Global Biofuels Alliance will collaborate with existing regional and international agencies and initiatives in the bioenergy, bioeconomy, and energy transition fields, such as the Clean Energy Ministerial Biofuture Platform, Mission Innovation Bioenergy initiatives, and the Global Bioenergy Partnership (GBEP). One notable focus of the alliance is to set technical standards for Sustainable Aviation Fuel (SAF) in collaboration with relevant industry bodies.

Membership in the alliance will comprise three categories: member countries, partner organizations, and industries. It aims to enhance global collaboration and cooperation in the accelerated adoption of biofuels by identifying global best practices for their development and deployment. Nineteen countries have joined as initiating members of the Global Biofuels Alliance. The International Energy Agency estimates that global sustainable biofuel production needs to triple by 2030 to align with the goal of achieving net-zero emissions by 2050. India, as the world's third-largest oil importer and consumer, is actively working to expand its biofuel production capacity and increase the use of biofuels in its transport sector. India aims to achieve carbon neutrality by 2070 and has expedited its ethanol blending target to reach 20 percent by 2025.

The Global Biofuels Alliance will play a pivotal role in promoting global biofuels trade, shaping concrete policies, and offering technical support for national biofuels programs, contributing significantly to the global transition towards sustainable energy sources. Meanwhile, External Affairs Minister S Jaishankar highlighted that the G20 Leaders’ Summit Declaration, adopted on Saturday, focuses on promoting robust, sustainable, balanced, and inclusive growth. The declaration is aligned with Sustainable Development Goals (SDGs) and features an action plan to accelerate progress in achieving these goals. The declaration encompasses several key aspects, including a green development pact, high-level principles for sustainable development lifestyles, voluntary principles for hydrogen, Chennai principles for a resilient blue economy, and Deccan principles addressing food security and nutrition, among others.

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