Speaking at the G20 Summit session on ‘One Earth’, Prime Minister Narendra Modi on Saturday announced the launch of the Global Biofuel Alliance and urged G20 nations to join the initiative with a plea to take ethanol blending with petrol globally to 20%.
#WATCH | G-20 in India: PM Narendra Modi launches ‘Global Biofuels Alliance’ in the presence of US President Joe Biden, President of Brazil Luiz Inacio, President of Argentina, Alberto Fernández and Prime Minister of Italy Giorgia Meloni. pic.twitter.com/fPpm77ONax— ANI (@ANI) September 9, 2023
The prime minister also proposed launching the ‘G20 Satellite Mission for Environment and Climate Observation’ and nudged the leaders to commence work on the ‘Green Credit Initiative’.
“Today, the need of the hour is that all countries should work together in fuel blending. Our proposal is to take an initiative at a global level to take ethanol blending in petrol up to 20 per cent,” PM Modi said.
“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 at the session attended by US President Joe Biden, Saudi Arabia Crown Prince Mohammed bin Salman, and UK Prime Minister Rishi Sunak among others.
The prime minister said energy transition is a significant need of the 21st-century world considering the challenge brought upon by climate change.
PM Modi further noted trillions of dollars are required for an inclusive energy transition and that the developed countries play a very important role in this.
“Along with India, all the countries of the Global South are pleased that developed countries have taken a positive initiative this year, in 2023. Developed countries have expressed their willingness to fulfil their commitment of USD 100 billion for climate finance for the first time,” he said.
The leaders of the world’s 20 most powerful nations begin the much-anticipated annual G20 summit today in New Delhi.
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