A historic moment in the Global Energy Sector: Global Biofuels Alliance (GBA) announced at the G20 event

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PM at the launch of Global Biofuels Alliance at Bharat Mandapam, in Pragati Maidan, New Delhi on September 09, 2023.
PM at the launch of Global Biofuels Alliance at Bharat Mandapam, in Pragati Maidan, New Delhi on September 09, 2023.
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A historic moment in the Global Energy Sector: Global Biofuels Alliance (GBA) announced at the G20 event

By PIB Delhi

The global energy sector has witnessed a historic moment today with the announcement of the Global Biofuels Alliance (GBA) by Prime Minister Shri Narendra Modi on the sidelines of the G20 Summit.

GBA is an India-led Initiative to develop an alliance of Governments, International organizations, and Industry to facilitate the adoption of biofuels. Bringing together the biggest consumers and producers of biofuels to drive biofuel development and deployment, the initiative aims to position biofuels as a key to energy transition and contribute to jobs and economic growth.

The announcement of the GBA showcases the action-oriented nature of India’s positive agenda as G20 President and representing the “Voice of the Global South’’. 

GBA will support the 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. It will facilitate mobilizing a virtual marketplace to assist industries, countries, ecosystem players, and key stakeholders in mapping demand and supply, as well as connecting technology providers to end users. It will also facilitate the development, adoption, and implementation of internationally recognized standards, codes, sustainability principles, and regulations to incentivize biofuels adoption and trade.

The initiative will be beneficial for India on multiple fronts. GBA as a tangible outcome of the G20 presidency, will help strengthen India’s position globally. Moreover, the alliance will focus on collaboration and will provide additional opportunities to Indian industries in the form of exporting technology and exporting equipment. It will help accelerate India’s existing biofuel programs such as PM-JIVANYojna, SATAT, and GOBARdhan scheme, thereby contributing to increased farmers’ income, creating jobs, and overall development of the Indian ecosystem. The global ethanol market was valued at USD 99.06 billion in 2022 and is predicted to grow at a CAGR of 5.1% by 2032 and surpass USD 162.12 billion by 2032. As per IEA, there will be 3.5-5x biofuels growth potential by 2050 due to Net Zero targets, creating a huge opportunity for India.

Countries and organizations that have already joined GBA

19 countries and 12 international organisations have already agreed to join.

  • G20 countries (07) supporting GBA: 1. Argentina, 2. Brazil, 3. Canada, 4. India 5. Italy, 6. South Africa, 7.USA
  • G20 Invitee Countries (04) supporting GBA: 1. Bangladesh, 2. Singapore, 3. Mauritius, 4. UAE
  • Non G20 (08) supporting GBA: 1. Iceland, 2. Kenya, 3. Guyana, 4. Paraguay, 5. Seychelles, 6. Sri Lanka, and 7. Uganda has agreed to be an initiating member of GBA, and 8. Finland
  • International organizations (12): World Bank, Asian Development Bank, World Economic Forum, World LPG Organization, UN-Energy for All, UNIDO, Biofutures Platform, International Civil Aviation Organization, International Energy Agency, International Energy Forum, International Renewable Energy Agency, World Biogas Association.
  • GBA Members constitute major producers and consumers of biofuels. USA (52%), Brazil (30%), and India (3%),  contribute about 85% share in production and about 81% in consumption of ethanol.

About Post Author

Editor Desk

Antara Tripathy M.Sc., B.Ed. by qualification and bring 15 years of media reporting experience.. Coverred many illustarted events like, G20, ICC,MCCI,British High Commission, Bangladesh etc. She took over from the founder Editor of IBG NEWS Suman Munshi (15/Mar/2012- 09/Aug/2018 and October 2020 to 13 June 2023).
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