The GBA aims to serve as a catalytic platform, fostering global collaboration for the advancement and widespread adoption of biofuels.
Prime Minister Narendra Modi along with the leaders of Singapore, Bangladesh, Italy, USA, Brazil, Argentina, Mauritius and UAE, launched the Global Biofuel Alliance on 9 September 2023, on the sidelines of the G20 Summit in New Delhi.
The Prime Minister, Narendra Modi has thanked member nations who have joined the Global Biofuels Alliance. He underlined that the launch of the Global Biofuels Alliance marks a watershed moment in the quest towards sustainability and clean energy.
The Global Biofuel Alliance (GBA) is an initiative by India as the G20 Chair. The Alliance intends to expedite the global uptake of biofuels through facilitating technology advancements, intensifying utilisation of sustainable biofuels, shaping robust standard setting and certification through the participation of a wide spectrum of stakeholders. The alliance will also act as a central repository of knowledge and an expert hub. GBA aims to serve as a catalytic platform, fostering global collaboration for the advancement and widespread adoption of biofuels.
As an alternative to conventional fossil fuels, biofuels can reduce carbon emissions by utilizing renewable sources such as biomass and agricultural waste. In order to contribute significantly to climate change mitigation, the GBA strives to bring sustainable alternatives into mainstream usage.
The GBA members include 19 countries and 12 international organisations. The G20 member countries supporting the alliance include Argentina, Brazil, Canada, India, Italy, South Africa and the US. While the four G20 Invitee countries supporting GBA are Bangladesh, Singapore, Mauritius and the UAE. Similarly, the eight non-G20 countries are Iceland, Kenya, Guyana, Paraguay, Seychelles, Sri Lanka, Uganda and Finland.
International organisations include the World Bank, Asian Development Bank, World Economic Forum, World LPG Organisation, International Energy Agency, International Energy Forum, International Renewable Energy Agency and World Biogas Association.
GBA Members constitute major producers and consumers of biofuels. USA (52 per cent), Brazil (30 per cent) and India (3 per cent), and contribute about 85 per cent share in production and about 81 per cent in consumption of ethanol.
The global ethanol market was valued at $99.06 billion in 2022 and is predicted to grow at a CAGR of 5.1% by 2032 and surpass $162.12 billion by 2032.
GBA will support worldwide development and deployment of sustainable biofuels by offering capacity-building exercises across the value chain, technical support for national programs and promoting policy lessons-sharing.
