GM Summit: PM Modi to launch Global Biofuel Alliance to push sustainable biofuels deployment
GM Summit 2023: PM Narendra Modi may launch the Global Biofuel Alliance on Sunday and ask all participating world leaders to join the initiative. India has been pushing the idea of setting up a Global Biofuels Alliance to help accelerate energy transition.
The Global Biofuels Alliance is somewhat like the International Solar Alliance (ISA) piloted by New Delhi and Paris in 2015 to bring clean and affordable solar energy within the reach of all.
During the India Energy Week 2023 in February, Union Minister of Petroleum and Natural Gas Hardeep Singh Puri had announced the alliance.
The G20 is in a good position just before the summit begins and it will be announcing the Global Biofuel Alliance, G20 coordinator Harsh Vardhan Shringla said on Saturday.
Several G20 nations have shown interest in the alliance and Shringla said it will be announced during the summit.
The biofuel alliance will intensify the utilisation of sustainable biofuels, even in the transport sector, and facilitate cooperation, according to the government. Biofuel is a renewable source of energy which is derived from biomass.
Earlier this month, PM Modi said that India’s proposal for a global alliance on biofuels during the G20 Summit will help accelerate sustainable biofuels deployment in support of the global energy transition.
“Such alliances are aimed at creating options for developing countries to advance their energy transitions,” PM Modi had told news agency PTI.
“Biofuels are also important from the perspective of a circular economy. Markets, trade, technology, and policy – all aspects of international cooperation are crucial in creating such opportunities,” Modi had noted.
India is trying to produce fuel from items including crop stubble, plant waste and municipal solid waste. India has already scheduled to double the mixing of ethanol extracted from sugarcane and agriculture waste to 20 per cent with petrol by 2025. The government has set up dozens of compressed biogas (CBG) plants for this purpose.
