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Source-This post on Global biofuel alliance is based on the article “Global biofuel alliance sets up three-pronged work plan” published in “Business Standard” on 8th May 2024.
Why in the News?
Recently, the Ministry of Petroleum and Natural Gas has stated that the Global Biofuel Alliance (GBA) has initiated a work plan. This plan concentrates on evaluating national contexts, formulating policy frameworks, and organizing biofuel workshops.
Global biofuel alliance
| Aspects | Description |
| About | 1.The Global Biofuel Alliance (GBA) was launched on the sidelines of the 2023 G20 summit in New Delhi. 2. The Alliance is focused on securing the supply of biofuels, ensuring affordability and sustainable production of biofuels. |
| Aim | It aims at facilitating international cooperation and intensifying the use of sustainable biofuels. It aims to facilitate global biofuels trade and provide technical support for national biofuel programmes. |
| Membership | 1.Member nation: It has been initiated by India, the United States, and Brazil. It has nine member countries: India, the US, Brazil, Argentina, Bangladesh, Italy, Mauritius, South Africa, and the UAE. 2. Organisation members: The World Bank, Asian Development Bank, World Economic Forum, International Energy Agency, International Energy Forum, International Renewable Energy Agency, and International Civil Aviation Organization are among the organisations that have agreed to join the alliance. |
| Functions | 1. The Global Biofuel Alliance aims to increase biofuel usage by: a) Facilitating advancements in biofuel technology b) Promoting the use of sustainable biofuels to address concerns about indirect land use change (ILUC), c) Developing robust standards and certifications. 2. It will serve as a knowledge centre to enhance global cooperation and ensure the secure and affordable availability of biofuels. |
About Biofuel
1. About Biofuels: It refers to renewable fuels derived from biomass–from plants or agricultural, animal, domestic, and industrial biowaste. Biofuels are significantly cleaner than the conventional fossil fuels.
2. Biofuel Potential: The International Energy Agency (IEA) forecasts a significant surge in biofuel production by 2050, projecting growth of 3.5-5 times, driven by global Net-Zero targets. This presents a substantial opportunity for India.
3. India’s Contribution to Global Biofuel Procurement: In 2022, a record-breaking 171.2 billion liters of biofuels were procured worldwide, with India accounting for a mere 2.7%, or 4.6 billion liters. India also maintains its position as the third-largest ethanol producer globally, trailing only the United States (US) and Brazil.
UPSC Syllabus: International relation
