G20 leaders inaugurated the Global Biofuel Alliance: India pioneering a new path

During the first ever G20 summit hosted by India, the heads of state unveiled the highly anticipated Global Biofuel Alliance (GBA), comprising over 30 nations and international organizations. The GBA’s primary objective is to expedite the acceptance of biofuels, ultimately expanding access to bioenergy in developing economies.

“The launch of Global Biofuels Alliance marks a watershed moment in our quest towards sustainability and clean energy” India’s Prime Minister Narendra Modi said after launch of the India-led initiative to facilitate adoption of biofuels. The GBA is supported by G20 nations and energy related international organisations like International Energy Agency (IEA), International Civil Aviation Organisation (ICAO), World Economic Forum (WEF), World LPG Association (WLPGA) among others and will amplify international biofuels trade apart from laying down the best practices in the relevant domain.

With implementation of E20 (a blend of 20% ethanol and 80% fossil fuel, volume by volume) by 2025, India will save around INR 45000 cr in oil imports and approximately 63 million tonne of oil annually. According to the Indian Biogas Association (IBA), the establishment of a biofuel coalition (GBA) among G20 nations has the potential to unlock economic opportunities amounting to $500 billion within the coming three years. The IBA asserts that such an alliance would yield mutual benefits for participating countries while also contributing positively to environmental preservation. The research underscores the promising prospects of biogas as an energy source, highlighting its advantages of requiring comparatively lower investment when compared to alternative energy generation methods and its ready access to raw materials.