Global Biofuels Alliance launch marks watershed moment in our quest towards sustainability, clean energy: PM Modi

Prime Minister Narendra Modi Friday thanked the member nations who joined the Global Biofuels Alliance and said, “the launch of the Global Biofuels Alliance marks a watershed moment in our quest towards sustainability and clean energy.”

India Saturday launched the Global Biofuels Alliance with PM Modi urging the G20 nations to join the initiative with a plea to take ethanol blending with petrol globally to 20 per cent.

The launch of the Global Biofuels Alliance marks a watershed moment in our quest towards sustainability and clean energy.

I thank the member nations who have joined this Alliance. https://t.co/3wgUkmKCyA pic.twitter.com/MOmP1q6g2r

— Narendra Modi (@narendramodi) September 9, 2023

The Alliance was launched on the sidelines of the G20 Summit by the Indian Prime Minister along with a host of global leaders, including US President Joe Biden, Brazilian President Luiz Inacio Lula da Silva, Bangadesh Prime Minister Sheikh Hasina and Italian Prime Minister Giorgia Meloni.

Who are the members of Global Biofuels Alliance?

Besides India, the initiating members included Argentina, Bangladesh, Brazil, Italy, Mauritius, South Africa, the UAE and the US, while Canada and Singapore are observer countries.

Earlier, while speaking at the G20 Summit session on 'One Earth', PM Modi also proposed launching the 'G20 Satellite Mission for Environment and Climate Observation' and urged leaders to commence work on the 'Green Credit Initiative'.

"Today, the need of the hour is that all countries should work together in the field of fuel blending. Our proposal is to take an initiative at a global-level to take ethanol blending in petrol up to 20 per cent," he said.

"Or alternatively, we could work on developing another blending mix for the greater global good, one that ensures a stable energy supply while also contributing to climate security," PM Modi said at the session attended by US President Biden, Saudi Arabia Crown Prince Mohammed bin Salman, and UK Prime Minister Rishi Sunak among others.

Prime Minister Modi said energy transition is a significant need of the 21st century world considering the challenge of climate change.

He said trillions of dollars are required for an inclusive energy transition and that the developed countries play a very crucial role in this.

"Along with India, all the countries of the Global South are pleased that developed countries have taken a positive initiative this year, in 2023. Developed countries have expressed their willingness to fulfil their commitment of USD 100 billion for climate finance for the first time," he said.

At the Copenhagen UN climate talks in 2009, developed countries had committed to providing USD 100 billion per year by 2020 to support developing countries in combating climate change.

However, the wealthier nations failed repeatedly to fulfil this commitment.

The Global Biofuels Alliance, which the world's third biggest oil consumer wants to push during its G20 presidency, mirrors the International Solar Alliance (ISA) piloted by New Delhi and Paris in 2015 to bring clean and affordable solar energy within the reach of all.

With inputs from PTI