Launch of the Global Biofuel Alliance (GBA)
Recently, India has launched the ‘Global Biofuel Alliance (GBA)’ on the sidelines of the G20 summit.
The ‘Global Biofuels Alliance’ has been jointly launched by the leaders of the countries involved in it, Singapore, Bangladesh, Italy, USA, Brazil, Argentina, Mauritius and UAE.
The initiative aims to accelerate the use of sustainable biofuels and reduce the world’s dependence on traditional fossil fuels.
Global Biofuels Alliance:
- ‘GBA’ is an initiative of India. GBA members include 19 countries and 12 international organizations.
- Also supporting the GBA are G20 member countries Argentina, Brazil, Canada, India, Italy, South Africa and the US.
- All these countries facilitate the adoption of biofuels, thereby increasing bioenergy access in emerging economies.
- International organizations include the World Bank, Asian Development Bank, World Economic Forum, World LPG Organization, International Energy Agency, International Energy Forum, International Renewable Energy Agency and the World Biogas Association.
- GBA members are major producers and consumers of biofuels. The United States (52%), Brazil (30%) and India (3%), and contribute about 85% of ethanol production and about 81% of consumption.
Importance of Global Biofuels Alliance:
- The Global Biofuels Alliance focuses on promoting sustainable biofuels, particularly in the transportation sector. It aims to expand markets, support global biofuels trade, share policy insights, and provide technical assistance to national biofuels programs around the world.
- It will also facilitate the development, adoption and implementation of internationally recognized standards, codes, sustainable principles and regulations to encourage biofuels adoption and trade.
- Furthermore, the alliance will focus on cooperation and provide additional opportunities to Indian industries in the form of technology exports and equipment exports.
- The initiative is in line with India’s goal of transitioning to alternative fuels and reducing its carbon emissions, with the goal of achieving net-zero emissions by 2070.
Biofuel:
- Biofuels are renewable energy sources derived from biomass, such as crop stubble, plant waste and municipal solid waste.
- India, a major oil importer, imports more than 85 percent of its crude oil needs.
- The country aims to increase ethanol blending in petrol to 20% by 2025 and is setting up compressed biogas (CBG) plants.
Source – Indian Express
