India launches global biofuel alliance at G20 summit
The alliance, with the United States and Brazil as its founding members, aims to accelerate global efforts to meet net-zero emissions targets by facilitating trade in biofuels derived from sources including plant and animal waste, Reuters reported.
"We are launching the Global Biofuel Alliance. India invites all of you to join this initiative," Prime Minister Narendra Modi.
The push for a biofuels alliance mirrors the International Solar Alliance launched by New Delhi and Paris in 2015 to bring clean and affordable solar energy within the reach of all.
The International Energy Agency estimates in a July report that global sustainable biofuels production would need to triple by 2030 to put the world's energy system on track towards net-zero emissions by 2050.
India, the world's third-biggest oil importer and consumer, imports about 85% of its crude needs and is gradually building capacity to increase its output of biofuels.
India is targeting to become carbon neutral by 2070 and is expanding use of biofuel in its transport sector. It has advanced the deadline by five years to 2025 for doubling nationwide ethanol blending in gasoline to 20%.