Launch of Global Biofuel Alliance during G20 Summit by PM Modi a Visionary Step for Energy Sector

Prime Minister Narendra Modi launched the Global Biofuel Alliance along with the leaders of Singapore, Bangladesh, Italy, USA, Brazil, Argentina, Mauritius and UAE on the sidelines of the G20 Summit in New Delhi.

An initiative by India as the G20 Chair, the Global Biofuel Alliance (GBA) aims to expedite the global uptake of biofuels by fostering collaboration. The widespread adoption of biofuels would only be possible with technology advancements and robust standard setting and certification. The Global Biofuel Alliance is expected to play a significant role in this by acting as a central repository of knowledge and an expert hub through the participation of a wide spectrum of stakeholders.

The energy sector seems to be extremely delighted with the announcement by Prime Minister Modi. Talking about it, Manish Dabkara, Chairman and MD of EKI Energy Services Ltd. and President of Carbon Markets Association Of India said, "EKI Energy Services Ltd (EKI) welcomes Prime Minister Narendra Modi's launch of the Global Biofuel Alliance (GBA) during the G20 Summit; alongside with world leaders from Singapore. Bangladesh, Italy, USA, Brazil, Argentina, Mauritius and UAE. This visionary initiative by bringing biggest producer and consumer Nations of Biofuel to promote clean and green technologies and addresses global energy transition challenges, away from GHG intensive fossils, with substantial developmental co-benefits. 19 countries and 12 international organizations has already joined the alliance."

Elaboraing on the use of biofuels, he commented, "Biofuels, derived from renewable biomass sources, offer a promising alternative to conventional fossil fuels. With India's leadership, the GBA has the potential to unlock opportunities for countries worldwide to harness biofuels for a sustainable future. This is also in alignment with India’s national initiatives like PM-JIVAN, SATAT and GOBARDHAN schemes, and fitting into IEA’s projection of ~ 5 X growth potential of the sector by mid of the century. Biofuels are crucial for reducing countries’ reliance on imported crude oil, enhancing energy security, and combating climate change by reducing greenhouse gas emissions. Brazil's success in biofuel production, particularly ethanol from sugarcane, serves as a notable example of the economic and environmental benefits of sustainable practices. India's previous success with the International Solar Alliance (ISA) demonstrates its commitment to global cooperation in renewable energy. The GBA follows suit, advancing sustainable energy transitions worldwide. This initiative promotes biofuels on a global scale, reducing emissions, mitigating climate change, and enhancing energy resilience by reducing dependence on imported fuels."

Meanwhile, Anish de, Global Head, Energy and Natural Resources, KPMG added, "Inclusion of the Global Biofuels Alliance is a very positive step. We need diversity of solutions for energy transition and biofuels can reduce net emissions quite significantly. Biofuels encompass a range of versatile technologies that can be appropriate for a range of applications including for heat, industries and transport. The global alliance will help organise the industry and related supply chains."