New Delhi: In a momentous move on the sidelines of the G20 Summit, Prime Minister Narendra Modi launched the Global Biofuels Alliance (GBA), heralding a new era in the pursuit of sustainability and clean energy.
Key Points about the Global Biofuels Alliance (GBA):
A Pioneering Endeavor:The Global Biofuels Alliance (GBA) emerges as an innovative initiative led by India, intended to forge a coalition of Governments, international entities, and industry stakeholders with the aim of facilitating the widespread adoption of biofuels.
International Participation: An impressive lineup of 19 nations has already pledged their commitment, including seven G20 nations – India, Argentina, Brazil, Canada, Italy, South Africa, and the United States. Additionally, 12 prominent international organizations have joined forces with the GBA.
Fostering Biofuels Development: The GBA’s primary objective is to unite the foremost consumers and producers of biofuels, propelling advancements in biofuels’ creation and application. This collective endeavor seeks to position biofuels as a pivotal component of the global energy transition while contributing to employment generation and economic expansion.
Capacity-Building Across the Value Chain:GBA is poised to support the worldwide growth and application of sustainable biofuels through a range of capacity-building initiatives spanning the entire value chain. This includes technical assistance for national programs and the dissemination of best practices in policy implementation.
Virtual Marketplace Creation: The GBA will play a pivotal role in establishing a virtual marketplace, serving as a bridge between industries, countries, ecosystem participants, and key stakeholders. This marketplace will facilitate the mapping of supply and demand while connecting technology providers with end-users.
Standardization and Regulation :The alliance will actively engage in the development, adoption, and implementation of universally recognized standards, codes, sustainability principles, and regulations. These measures aim to incentivize the adoption and trade of biofuels on a global scale.
Global Opportunities for India: By actively participating in the GBA, India is poised to enhance its global standing, fostering collaboration and offering opportunities for Indian industries to export technology and equipment.
Boosting Existing Programs: The GBA will expedite India’s ongoing biofuels initiatives, including PM-JIVAN Yojana, SATAT, and the GOBARdhan scheme. This acceleration is expected to contribute to increased income for farmers, job creation, and overall development of the Indian ecosystem.
International Initiators: A diverse group of nations, including Bangladesh, Singapore, Mauritius, UAE, Iceland, Kenya, Guyana, Paraguay, Seychelles, Sri Lanka, Uganda, and Finland, has embraced the role of initiating members of the GBA.
Global Organizations in the Fold: The GBA boasts the participation of esteemed international organizations such as the 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, and World Biogas Association.
The launch of the Global Biofuels Alliance (GBA) at the G20 Summit marks a historic stride toward a sustainable and green energy future, underlining India’s leadership in the global pursuit of cleaner energy alternatives.
