New Delhi: Prime Minister Narendra Modi, together with the leaders of Singapore, Bangladesh, Italy, USA, Brazil, Argentina, Mauritius, and UAE, unveiled the Global Biofuel Alliance at the G20 Summit in New Delhi on 9 September 2023.
The Global Biofuel Alliance (GBA) is an initiative led by India as the G20 Chair. The primary aim of the Alliance is to accelerate the adoption of biofuels at a global scale. This will be achieved through the promotion of technological advancements, increased utilization of sustainable biofuels, and the development of robust standards and certifications in collaboration with various stakeholders. The alliance will additionally function as a centralized repository of knowledge and an expert hub. GBA’s objective is to serve as a catalytic platform, facilitating global collaboration for the advancement and widespread adoption of biofuels.
The Global Biofuel Alliance (GBA) is an India-led initiative aimed at bringing together governments, international organizations, and industry stakeholders to promote the adoption of biofuels. By uniting the largest consumers and producers of biofuels, this initiative is driving the development and deployment of sustainable biofuel technologies. The GBA seeks to position biofuels as a crucial element in the transition towards cleaner energy sources, while also creating jobs and fostering economic growth. This announcement demonstrates India’s proactive approach as the G20 President and as a representative of the Voice of the Global South.
Global Biofuel Alliance:
- GBA is committed to promoting and facilitating the global development and implementation of sustainable biofuels.
- It is aimed to achieve this through various capacity-building exercises across the entire biofuel value chain, providing technical assistance to national programs, and facilitating the sharing of policy lessons.
- It will enable the mobilization of a virtual marketplace to support industries, countries, ecosystem players, and key stakeholders in the mapping of demand and supply, as well as the connection of technology providers with end users.
- It will facilitate the development, adoption, and implementation of internationally recognized standards, codes, sustainability principles, and regulations to encourage the adoption and trade of biofuels.
- The implementation of this initiative will yield multiple benefits for India. As a tangible outcome of the G20 presidency, the establishment of the GBA will significantly enhance India’s global standing.
- This alliance will prioritize collaboration, creating additional avenues for Indian industries to export both technology and equipment.
- India’s existing biofuels programs like PM-JIVANYojna, SATAT, and GOBARdhan scheme will be further enhanced to boost the country’s economy. This will lead to increased income for farmers, job creation, and overall development of the Indian ecosystem.
- The global ethanol market was valued at USD 99.06 billion in 2022 and is predicted to grow at a CAGR of 5.1% by 2032 and surpass USD 162.12 billion by 2032. As per IEA, there will be 3.5-5x biofuels growth potential by 2050 due to Net Zero targets, creating a huge opportunity for India.
Countries and organizations which have already joined GBA
19 countries and 12 international organisations have already agreed to join.
- G20 countries (07) supporting GBA: 1. Argentina, 2. Brazil, 3. Canada, 4. India 5. Italy, 6. South Africa, 7. USA
- G20 Invitee Countries (04) supporting GBA: 1. Bangladesh, 2. Singapore, 3. Mauritius, 4. UAE
- Non G20 (08) supporting GBA: 1. Iceland, 2. Kenya, 3. Guyana, 4. Paraguay, 5. Seychelles, 6. Sri Lanka, and 7. Uganda have agreed to be initiating members of GBA, and 8. Finland
- International organizations (12): 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, World Biogas Association.
- GBA Members constitute major producers and consumers of biofuels. USA (52%), Brazil (30%) and India (3%), contribute about 85% share in production and about 81% in consumption of ethanol.
