How India’s G20 Presidency Can Boost Global Biofuels Alliance
India is set to take over the presidency of the G20, the group of 20 major economies, in 2023. One of the key initiatives that India plans to pursue during its tenure is to form a global biofuels alliance, similar to the International Solar Alliance (ISA) that was launched by Prime Minister Narendra Modi and former French President Francois Hollande in 2015.
Biofuels are fuels derived from renewable sources such as plants, animal waste, or algae. They can be used to power vehicles, generate electricity, or produce heat. Biofuels have several advantages over fossil fuels, such as reducing greenhouse gas emissions, enhancing energy security, creating rural employment, and diversifying the energy mix.
According to a recent report by the Indian Biogas Association (IBA), a global biofuels alliance can generate opportunities worth $500 billion in the next three years for G20 nations. The report also suggests that biofuels can contribute to achieving the Sustainable Development Goals (SDGs) and the Paris Agreement targets on climate change.
The report highlights the potential of biofuels in various sectors, such as transportation, aviation, maritime, industrial, and residential. It also identifies the challenges and barriers that hinder the growth of biofuels, such as lack of policy support, inadequate infrastructure, high production costs, and low consumer awareness.
The report recommends that India should use its G20 presidency to create a platform for dialogue and cooperation among the member countries on biofuels. It also suggests that India should showcase its best practices and innovations in biofuels, such as ethanol blending, biodiesel production, biogas generation, and bio-CNG distribution.
India has a strong track record in biofuels development and promotion. It has set an ambitious target of achieving 20% ethanol blending and 5% biodiesel blending in petrol and diesel by 2025. It has also launched several schemes and incentives to encourage biofuels production and consumption, such as the National Policy on Biofuels 2018, the Pradhan Mantri JI-VAN Yojana, the SATAT initiative, and the E-100 pilot project.
India’s G20 presidency can be a golden opportunity to leverage its leadership and expertise in biofuels to create a global alliance that can benefit not only India but also the world. A global biofuels alliance can foster collaboration and innovation among the G20 countries and beyond, and help achieve a cleaner, greener, and more sustainable future for all.