C O V E R S T O R Y
ABOUT GLOBAL BIOFUEL ALLIANCE
The India-proposed GBA is an initiative to develop an alliance of governments , international organisations and industry to facilitate the adoption of biofuels . It brings together the biggest consumers and producers of biofuels to drive its development and deployment , and position biofuels as a key to energy transition .
COUNTRIES THAT HAVE JOINED THE ALLIANCE
Nineteen countries and 12 international organisations have joined the GBA . Among them are Brazil , the US , Canada , Italy , South Africa , Argentina and India . Non-G20 countries including Bangladesh , Singapore , and Iceland have agreed to become a part of the alliance . Three members — Brazil , India and the US — contribute about 85 percent of the world ’ s biofuel production . The US contributes 52 percent , while Brazil and India account for 30 percent and 3 percent , respectively . International organisations such as the World Bank , the World Economic Forum , and the International Energy Agency have also joined .
OBJECTIVES BEHIND GBA
The alliance will support the development of biofuels by offering capacitybuilding exercises across the value chain , provide technical support for national programmes and promote sharing of policy lessons .
The government said the GBA will facilitate mobilising a virtual marketplace to assist industries , countries , ecosystem players and key stakeholders in mapping demand and supply , as well as connecting technology providers to users . The alliance will act as a central repository of knowledge and an expert hub .
HOW HAVE INDIAN COMPANIES REACTED ?
Reacting to the development on X ( formerly twitter ), Pramod Chaudhari , Founder Chairman , Praj Industries , a leading player in the space mentioned , “ The launch of Global Biofuel Alliance is a watershed movement in the global bioeconomy . India ’ s position as a leader in innovative technology solutions for the production of biofuels is well-established globally . This landmark development stands as a testament to an inclusive approach to solving the global climate crisis .”
“ Based on the circular economy principle , biofuels are produced by processing captive agricultural resources , thus facilitating energy security . Biofuels function as socio-economic-environmental growth enablers in the growth of the nation . We at Praj Industries reiterate our commitment to strive harder to help realize
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BioVoiceNews | October 2023