Global Biofuels Alliance (GBA) announced at G20 event.
Delhi:
A significant moment in the global energy sector, as Prime Minister Shri Narendra Modi announced the establishment of the Global Biofuels Alliance (GBA) during the G20 Summit. Led by India, the GBA aims to create a partnership between governments, international organizations, and industry players to promote the adoption of biofuels. This initiative aims to position biofuels as a key component of the energy transition, fostering job creation and economic growth.
The launch of the GBA reflects India’s proactive approach as the G20 President and its representation of the “Voice of the Global South”. The GBA will support the global development and deployment of sustainable biofuels by providing capacity-building activities across the entire biofuels value chain, offering technical assistance to national programs and promoting the sharing of policy insights. It will also facilitate development, adoption and implementation of internationally recognized standards, codes, sustainability principles and regulations to incentivize biofuels adoption and trade.
The GBA will bring several benefits to India. As a tangible outcome of India’s G20 presidency, it will enhance India’s global standing. Moreover, it will foster collaboration and create opportunities for Indian industries to export technology and equipment. This initiative will accelerate India’s existing biofuels programs, such as PM-JIVANYojna, SATAT, and the GOBARdhan scheme, contributing to increased income for farmers, job creation, and overall ecosystem development. With the global ethanol market projected to grow significantly, this initiative positions India well for growth, given its potential in biofuels due to Net Zero targets.
The GBA already boasts the participation of 19 countries and 12 international organizations:
- G20 countries (7) supporting GBA: Argentina, Brazil, Canada, India, Italy, South Africa, USA.
- G20 Invitee Countries (4) supporting GBA: Bangladesh, Singapore, Mauritius, UAE.
- Non-G20 countries (8) supporting GBA: Iceland, Kenya, Guyana, Paraguay, Seychelles, Sri Lanka, Uganda, Finland.
- International organizations (12): World Bank, Asian Development Bank, World Economic Forum, World LPG Organization, UN Energy for All, UNIDO, Biofutures Platform, International Civil Aviation Organization, International Energy Agency, International Energy Forum, International Renewable Energy Agency, World Biogas Association.
- Collectively, these GBA members represent significant producers and consumers of biofuels, with the USA (52%), Brazil (30%) and India (3%), contribute about 85% share in production and about 81% in consumption of ethanol.
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