G20 Summit: PM Modi Announces Global Biofuel Alliance Launch and Requests Support from Global Leaders

Prime Minister Narendra Modi announced the formation of the worldwide Biofuel Alliance while speaking at the G20 Summit session on “One Earth” on Saturday. He also pleaded on the G20 countries to join the effort by raising the worldwide standard for ethanol blends with gasoline to 20%.

The prime minister also encouraged the leaders to start working on the “Green Credit Initiative” and suggested that the “G20 Satellite Mission for Environment and Climate Observation” be launched.

“At this time, international cooperation in fuel mixing is essential. The worldwide effort we propose would increase the percentage of ethanol in gasoline to 20%, according to Prime Minister Modi.

The prime minister made the statement at the meeting, which was also attended by US President Joe Biden, Saudi Arabian Crown Prince Mohammed bin Salman, UK Prime Minister Rishi Sunak, and others. “Or alternatively, we could work on developing another blending mix for the greater global good, one that ensures a stable energy supply while also contributing to climate security,” the prime minister said.

The prime minister said that, given the threat posed by climate change, energy transition is a crucial need of the twenty-first century.

In addition, PM Modi stated that the developed nations are crucial to achieving an inclusive energy transformation and that billions of dollars are needed.

“All the nations of the Global South, including India, are glad that wealthy nations have made a good step this year, in 2023. For the first time, developed nations have said that they are prepared to fulfill their pledge of USD 100 billion for climate funding, he added.

The much-awaited annual G20 meeting has officially started in New Delhi with the participation of the 20 most powerful countries in the globe.