Global Biofuel Alliance to boost global trade: Puri

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New Delhi: The Global Biofuel Alliance (GBA) will boost global trade and secure availability of biofuels, said the union minister for petroleum and natural gas Hardeep Singh Puri. Addressing an event here on Tuesday, the minister said: "The alliance will provide a boost to global trade, secure the supply and availability of biofuels and coordinate internationally recognized standards and codes." The alliance will be a competent organization which will set technical standards for sustainable aviation fuel business in collaboration with relevant industry bodies. It would have a three-category membership structure bringing together member countries, partner organizations and industries.

Noting that it has received interest from countries, he said that the membership to the alliance would also be open for interested countries beyond G20 members. India, Brazil and the US are the current signatories to the alliance. The alliance will be open for membership on 22 July.

"Globally, sustainable biofuels is one of the most important alternative sources of energy and will significantly contribute in achieving Net Zero. It is already economically viable and hence is in the fore front of emerging fuels," he said. IEA estimates that the percentage mix of liquid and gaseous biofuels in liquid and gaseous fuels can grow from the current 1.6% up to 15.8% by 2050 in the net zero scenarios.

India has an ambitious biofuel programme. Currently all fuel pumps in the country sell 10% ethanol (E10) blended petrol. India achieved the target of 10% ethanol blending in petrol in June last year, ahead of the targeted timeline of November 2022.