India unveiled the Global Biofuels Alliance during the G20 Summit, and Prime Minister Narendra Modi called on G20 nations to participate in the initiative, urging the global adoption of ethanol blending with petrol up to 20 percent.
The launch of the Global Biofuels Alliance took place on the sidelines of the G20 Summit, with Prime Minister Modi joined by a range of international leaders, including US President Joe Biden, Brazilian President Luiz Inacio Lula da Silva, Bangladesh Prime Minister Sheikh Hasina, and Italian Prime Minister Giorgia Meloni.
The founding members of the Alliance include Argentina, Bangladesh, Brazil, Italy, Mauritius, South Africa, the UAE, and the US, while Canada and Singapore serve as observer countries.
Prime Minister Modi expressed his appreciation for the nations that have joined the Alliance and characterized it as a momentous step towards sustainability and clean energy. He also proposed the idea of launching the 'G20 Satellite Mission for Environment and Climate Observation' and encouraged leaders to begin work on the 'Green Credit Initiative.'
Modi emphasized the importance of international cooperation in the field of fuel blending, proposing an initiative to globally increase ethanol blending in petrol to 20 percent or explore alternative blending options for the greater global good, ensuring a stable energy supply while contributing to climate security.
He underscored the necessity for energy transition in the 21st century due to the climate change challenge and the substantial financial resources required for an inclusive energy transition, emphasizing the role of developed countries in this effort.
President Biden, during the G20 Leaders' Summit in New Delhi, reiterated his Administration's commitment to transitioning to clean energy, emphasizing the global necessity for combating climate change.
The Global Biofuels Alliance aims to secure a stable supply of biofuels, maintain their affordability, and promote sustainable production. Founding members of the Alliance plan to engage with other nations that share these values, with the goal of expanding the initiative.
The initiative bears resemblance to the International Solar Alliance (ISA), launched in 2015 by India and France, which seeks to make clean and affordable solar energy accessible to all. Prime Minister Modi has previously explained that India's proposal for a global biofuels alliance within the G20 would accelerate the deployment of sustainable biofuels in support of the worldwide energy transition.
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