Global Biofuel Alliance (GBA):
GBA was launched by India along with the leaders of Singapore, Bangladesh, Italy, USA, Brazil, Argentina, Mauritius and UAE.
Global Biofuel Alliance (GBA)
- It aims to serve as a catalytic platform, fostering global collaboration for the advancement and widespread adoption of biofuels.
- It will act as a central repository of knowledge and an expert hub.
- Its members are Argentina, Brazil, Canada, India Italy, South Africa, USA, Bangladesh, Singapore, Mauritius, UAE, Iceland, Kenya, Guyana, Paraguay, Seychelles, Sri Lanka, Uganda, and Finland. It also includes international organizations including the World Bank, Asian Development Bank, World Economic Forum, International Energy Agency, etc.
- GBA will ensure a stable supply of eco-fuels and create a virtual marketplace connecting industries, countries, and tech providers, enhancing demand-supply mapping.
- It will facilitate the development, adoption, and implementation of internationally recognized standards, and regulations to incentivize biofuels adoption and trade.
- International Energy Agency (IEA) estimates that global sustainable biofuel production would need to triple by 2030 to put the world’s energy system on track towards net zero emissions by 2050.
- The transport sector is responsible for approximately one-quarter of greenhouse gas emissions.
- It will help raise awareness about biofuels’ role in reducing greenhouse gas emissions.
