NEW DELHI: On the first day of the Summit, G20 leaders revealed the long-awaited Global Biofuel Alliance (GBA), a coalition comprising more than 30 nations and international entities, aimed at facilitating the adoption of biofuels and expanding access to bioenergy in emerging economies.
Interestingly, the launch occurred in a month marked by three pivotal environmental events: the International Day of Clean Air for Blue Skies on September 7, International Day for the Preservation of the Ozone Layer on September 16, and the World Environment Health Day on September 26.
Prime Minister Narendra Modi, in the wake of the launch of this India-led initiative, hailed it as a “watershed moment” in the journey towards sustainability and clean energy. He expressed gratitude to the member nations who joined this alliance.
India’s proactive approach
Furthermore, the G20 New Delhi Leaders’ Declaration prominently acknowledges the presidency’s initiative in establishing the Global Biofuels Alliance, recognising the vital role of sustainable biofuels in zero and low-emission development strategies.
The Ministry of Petroleum and Natural Gas highlighted that the GBA announcement reflects India’s proactive agenda as the G20 President and its representation of the ‘Voice of the Global South.’
Union Minister of Petroleum & Natural Gas Hardeep Singh Puri, on social media platform X, noted that the world’s pursuit of cleaner and greener energy has gained historic momentum. He expressed gratitude to key figures like US Secretary of Energy Granholm, Brazilian Energy Minister Silveira, and Evandro Gussi, President & CEO of UNICA Brazil, for their instrumental role in establishing the Global Biofuels Alliance.
The GBA boasts a diverse membership, with 19 countries and 12 international organisations participating. Among the G20 member countries supporting the alliance are Argentina, Brazil, Canada, India, Italy, South Africa, and the United States.
Additionally, four G20 Invitee countries – Bangladesh, Singapore, Mauritius, and the UAE – are providing support, along with eight non-G20 countries, including Iceland, Kenya, Guyana, Paraguay, Seychelles, Sri Lanka, Uganda, and Finland.
Key production players
International organisations such as the World Bank, Asian Development Bank, World Economic Forum, World LPG Organisation, International Energy Agency, International Energy Forum, International Renewable Energy Agency, and World Biogas Association are also part of this alliance.
Collectively, GBA members are significant players in the production and consumption of biofuels. The United States (52 pc), Brazil (30 pc), and India (3 pc) together contribute approximately 85 per cent of global biofuel production and 81 per cent of consumption of ethanol.
Furthermore, the global ethanol market, valued at $99.06 billion in 2022, is anticipated to witness a robust compound annual growth rate (CAGR) of 5.1 per cent by 2032, reaching an estimated value of over $162.12 billion.