Launch of Global Biofuels Alliance a key moment in the quest for clean energy: PM
India officially inaugurated the Global Biofuels Alliance on Saturday, and Prime Minister Narendra Modi pleaded with the G-20 to join the initiative to raise the global ethanol-to-gasoline blend to 20%.
What is the Global Biofuels Alliance?
- India has launched the Global Biofuel Alliance (GBA) to hasten the use of biofuels on a worldwide scale. The alliance’s objectives are to:
- Utilize sustainable biofuels more often.
- Establish benchmarks and certification
- Advance technology
- Compared to gasoline, biofuels burn more efficiently and emit fewer greenhouse gases. Up to 86% less greenhouse gas emissions can be achieved with cellulosic ethanol. Producing enough biofuel to drastically reduce fossil fuel use, however, can result in issues like increasing pollution and a reduction in food access. It can be expensive to manufacture and incorporate biofuels into daily fuel usage.
- 80% of the growth in the use of biofuels worldwide is accounted for by the United States, Canada, Brazil, Indonesia, and India.
When was the initiative launched?
During the G-20 Summit, Prime Minister Narendra Modi announced the coalition. President Joe Biden of the United States, President Luiz Inacio Lula da Silva of Brazil, Prime Minister Sheikh Hasina of Bangladesh, and Prime Minister Giorgia Meloni of Italy were among the other world leaders present at the launch.
Who are the founding members of the alliance?
The Global Biofuels Alliance was founded by the United States, India, Argentina, Bangladesh, Brazil, Italy, Mauritius, South Africa, and the United Arab Emirates. Singapore and Canada are participating as observers.
What is the Green Credit Initiative?
- India’s Green Credit Programme is a national effort that tries to encourage individuals to take environmentally friendly acts. The government included the program in its budget for 2023–2024. Through the initiative, people, businesses, and organizations could create “green credits” for actions that benefit the environment.
- To leverage green credits, the initiative would employ a competitive market-based strategy. Green credits are tradable results that serve as incentives. They would be provided to people and organizations that engage in particular activities and make environmental changes. On a domestic market basis, these green credits would be exchangeable.
- As a component of the government’s 2023–2024 budget, the program was initially suggested on February 1st.
What are the focused areas of the alliance?
- Focus on Sustainability: The partnership places a high priority on sustainability in the supply and production of biofuels. It strives to guarantee that the cost of biofuels stays low and that they are made in an environmentally friendly way.
- Goals for Clean Energy and the Environment: The Global Biofuels Alliance’s founding is in line with more general objectives for clean energy, sustainability, and combating climate change. It demonstrates a commitment to utilize greener, renewable energy sources, such as ethanol, to cut greenhouse gas emissions from the transportation sector.
- Global Collaboration: The alliance represents a united front on the part of nations to address the world’s energy and environmental problems, particularly as we move toward more environmentally friendly energy sources.
What are the benefits of the alliance for the world?
- Reduced Greenhouse Gas Emissions: When compared to conventional fossil fuels, ethanol, which is produced from renewable sources like sugarcane or corn, often has a lower carbon footprint. Increasing the amount of ethanol blended with gasoline can aid in lowering greenhouse gas emissions from the transportation industry, aiding in the fight against global warming.
- Energy Security: Domestic production of biofuels, such as ethanol, using renewable resources can lessen a nation’s reliance on imports of fossil fuels. This increases energy security and lessens sensitivity to changes in the price of oil around the world.
- Energy Source Diversification: The transportation sector’s energy sources are diversified through encouraging the use of biofuels. The energy supply may become more resilient and less susceptible to supply disruptions as a result of this diversity.
- Agriculture Support: The production of biofuels frequently depends on crops, which can be profitable for farmers and rural areas. It can boost agricultural development and generate employment there.
- Cleaner Air: When burned, biofuels often emit less harmful pollution than conventional gasoline. This may result in better air quality and a decline in the health risks brought on by air pollution.