India launches Global Biofuel Alliance
12 September 2023 16:25
Meeting in New Delhi on September 9, Indian Prime Minister Shri Narendra Modi, American President Joe Biden, and leaders from Argentina, Bangladesh, Brazil, Italy, Mauritius, and the United Arab Emirates created the Global Biofuel Alliance, or GBA, to facilitate tech innovation, expand biofuel use, set standards for the renewable energy source, and share knowledge.
“GBA aims to serve as a catalytic platform, fostering global collaboration for the advancement and widespread adoption of biofuels,” said an Indian government press release.
Biofuels are derived quickly from biomass rather than the millions of years it takes for fossil fuels like oil to form underground. Many biofuels emit less carbon than fossil fuels. They are often viewed as a “bridge fuel” that could reduce global dependence on dirtier energies while paving the way for cleaner power sources like solar and wind.
The International Energy Agency, or IEA, estimated that biofuel production needs to triple by 2030 if the world intends to reach the Paris Climate Accord target of net zero emissions by 2050, according to an IEA report.
Last year, liquid biofuels supplied only around 4 percent of transportation energy. More than 80 percent of biofuel production occurs in a few countries, however. Many potential supplies lack access to feedstock for it, lack policies to certify a sustainable manufacturing process, or need commercial applications to finance production.
Identifying and developing new biofuel markets, expediting the deployment of technologies to produce biofuels, and negotiating performance-based sustainability frameworks would address those problems, the IEA report concluded.
“The Alliance is focused on securing the supply of biofuels, ensuring these biofuels remain affordable and are produced sustainably,” said a United States government statement. ce/jd