New Delhi, Sept 8 (KNN) Prime Minister Narendra Modi may launch the much-anticipated Global Biofuels Alliance on 9 September during the upcoming G20 summit, reported Mint. 

Two people aware of the development told Mint that the marquee alliance with India, the US and Brazil as its founding members has received interest from 19 countries, from the G20 as well as outside it. 

The proposal for the alliance, however, has not seen a consensus among all G20 member countries, with China and oil producers Saudi Arabia and Russia deciding not to be part of it. 

With an eye on the Organization of the Petroleum Exporting Countries (Opec)-plus grouping—where both Saudi Arabia and Russia are members—the Indian-conceptualized alliance is being positioned as a global forum to help boost demand and technology transfer for the production of biofuels and to enhance trade.

According to estimates from the International Energy Agency (IEA), global biofuel production would need to triple by 2030 to put the world’s energy systems on track toward net zero emissions by 2050.  (KNN Bureau)