PM Modi Along With The Leaders Of Singapore, Bangladesh, Italy, USA, Brazil, Argentina, Mauritius And UAE, Launched The Global Biofuel Alliance On 9 September 2023, On The Sidelines Of The G20 Summit In New Delhi.
Global Biofuel Alliance (GBA)
Why In The News?
- PM Modi Along With The Leaders Of Singapore, Bangladesh, Italy, USA, Brazil, Argentina, Mauritius And UAE, Launched The Global Biofuel Alliance On 9 September 2023, On The Sidelines Of The G20 Summit In New Delhi.
What Is Biofuel?
- Biofuel Is Derived From Biological Sources, Such As Plants, Agricultural Crops, Organic Waste, Or Animal By-products. It Is A Renewable Energy Source That Can Be Used As An Alternative To Fossil Fuels. The Production And Use Of Biofuels Aim To Reduce Greenhouse Gas Emissions And Promote Sustainability.
- Bioethanol: This Is An Alcohol-based Fuel Primarily Produced By Fermenting Sugar Or Starch Crops, Such As Sugarcane, Corn, Or Wheat. Bioethanol Is Commonly Used As A Blend In Gasoline For Transportation Purposes.
- Biodiesel: Biodiesel Is Produced From Vegetable Oils, Animal Fats, Or Recycled Cooking Oil. It Can Be Used As A Direct Replacement For Or Blended With Conventional Diesel Fuel In Vehicles.
- Biogas: Biogas Is A Mixture Of Gases, Primarily Methane, Produced Through The Anaerobic Digestion Of Organic Waste Materials Such As Agricultural Residues, Food Waste, Or Sewage. It Can Be Used For Electricity Generation, Heating, Or As A Vehicle Fuel.
Objectives Of Global Biofuel Alliance (GBA)
- The Alliance Intends To Expedite The Global Uptake Of Biofuels Through Facilitating Technology Advancements, Intensifying Utilization Of Sustainable Biofuels, Shaping Robust Standard Setting And Certification Through The Participation Of A Wide Spectrum Of Stakeholders.
- The Alliance Will Also Act As A Central Repository Of Knowledge And An Expert Hub. GBA Aims To Serve As A Catalytic Platform, Fostering Global Collaboration For The Advancement And Widespread Adoption Of Biofuels.
How Will The Alliance Benefit India?
- The Alliance Is An Initiative By India As The G20 Chair.
- Collaboration Within GBA And With Other Nations Will Provide India’s Transition To Clean Energy, Facilitating Technology Exchange, Adoption Of Eco-friendly Biofuels, Reducing Dependence On Fossil Fuels, And Aligning With Climate And Energy Goals.
- Biofuel Alliance Can Generate Opportunities Worth USD 500 Billion In The Next Three Years For G20 Countries.
India Towards Renewable Energy Resources
- India Has Substantially Increased Its Share Of Renewable Energy In The Overall Energy Mix, Experiencing A Compound Annual Growth Rate (CAGR) Of Approximately 22 Per Cent Over The Last Six Years.
- The Country Has Also Significantly Expanded Its Solar And Wind Energy Sectors, With Solar Energy And Wind Energy Growing At CAGRS Of 38 Per Cent And 30 Per Cent, Respectively, During This Period.
- Current Daily Production Of Biogas And Compressed Biogas In India Is 1151 MT. With A Concerted Effort In The Sector, Even Conservative Estimates Suggest That This Could Increase To 1750 MT Per Day By 2025.
What For G20 Nations?
- Alliance Will Assist G20 Nations In Reducing Their Reliance On Fossil Fuels. Within The Next Three Years, It Is Anticipated That The Overall Import Bill For Non-fossil Fuels Could Be Substantially Reduced, Helping These Nations Achieve Their Sustainable Development Goals.
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