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Global Biofuels Alliance

Facts for Prelims (FFP)

 

Source: Business Standard

 Context: India is proposing the creation of a Global Biofuels Alliance, which is likely to be launched during the G20 summit.

  • This initiative aims to accelerate the transition to sustainable biofuels and reduce the world’s dependency on traditional fossil fuels.
  • India sees this alliance as a means to advance energy transitions in developing countries and promote a circular economy.

 

About Biofuels:

Biofuels are renewable energy sources derived from biomass, such as crop stubble, plant waste, and municipal solid waste.

India, a major oil importer, is working on building its capacity to produce biofuels, particularly from sugarcane and agricultural waste. The country aims to increase the blending of ethanol in petrol to 20% by 2025 and is establishing compressed biogas (CBG) plants.

 

Significance of Global Biofuels Alliance:

  • The Global Biofuels Alliance focuses on promoting sustainable biofuels, especially in the transportation sector, and aims to enhance markets, support global biofuel trade, share policy insights, and provide technical assistance to national biofuel programs worldwide.
  • The initiative aligns with India’s goal of transitioning to alternative fuels and reducing its carbon emissions, with a target of achieving net-zero emissions by 2070.