On 9th September 2023, during the G20 Summit in New Delhi, Prime Minister Shri Narendra Modi, along with leaders from Singapore, Bangladesh, Italy, USA, Brazil, Argentina, Mauritius, and UAE, unveiled the Global Biofuel Alliance (GBA). India, as the G20 Chair, led this initiative.
The GBA’s mission is to accelerate the worldwide adoption of biofuels by promoting technological advancements, encouraging sustainable biofuel utilisation, and establishing robust standards and certifications with input from diverse stakeholders. It will also function as a comprehensive knowledge repository and an expert hub. Essentially, GBA aims to catalyse global collaboration for the advancement and widespread adoption of biofuels.
In tandem with this launch, G20 nations are actively exploring a $500 billion biofuel opportunity over the next three years. The alliance seeks to harness this substantial economic and environmental potential to combat climate change, reduce greenhouse gas emissions, drive innovation, create jobs, and transition towards cleaner, renewable energy sources.
This collaborative endeavour underscores the global commitment to pivot away from fossil fuels in favour of sustainable alternatives, marking a significant step towards a greener and more sustainable energy future.
About the Author
Dr Vinay Karanam, a Fellow of Institute of Engineers (FIE) and a Fellow of Institute of Managers and Leaders (FIML) is a Chartered Mechanical Engineer. Currently, he is the Principal Engineering Scientist at www.iwtctwl.tech and National secretary of Mechanical Engineering Group of Engineering New Zealand and Chair of Waikato MEG chapter.