Brazil President Luiz Inacio Lula da Silva on Monday expressed his delight on the launch of the Global Biofuels Alliance and said that this is the happiest decision for Brazil as they have been fighting for it.
While addressing a press conference in New Delhi, Lula emphasised that Brazil will continue to improve ethanol production.
"We continue to improve the ethanol production in Brazil. Everybody knows what role Brazil plays in ethanol as an alternative to oil. This is the happiest decision for Brazil as we have been fighting for it," Lula said.
PM Narendra Modi on Saturday launched the 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.
Brazil's President further said that the country has tech control on biofuels.
"Brazil has tech control on biofuels and this initiative is important for our future," he said.
Lula also appreciated that the world is now perceiving that biofuel could solve the issues of greenhouse gas effects and emissions.
"Finally, the world is now perceiving that biofuel could solve the major issue which is the greenhouse gas effects, and emissions...," he added.
The Global Biofuel Alliance was one of the priorities under India's G20 Presidency.
This Alliance will place emphasis on strengthening markets, facilitating global biofuels trade, developing concrete policy lesson-sharing and providing technical support for national biofuels programs worldwide.
"The launch of the Global Biofuels Alliance marks a watershed moment in our quest towards sustainability and clean energy. I thank the member nations who have joined this Alliance," PM Modi wrote on 'X' formerly Twitter on Saturday.
The alliance will work towards enhancing global collaboration and cooperation for the accelerated adoption of biofuels by identifying global best practices for the development and deployment of sustainable biofuels and bio-products. Nineteen countries agreed to stand with India as initiating members of the Global Biofuels Alliance.
The International Energy Agency estimates in a July report that global sustainable biofuel production would need to triple by 2030 to put the world's energy system on track towards net zero emissions by 2050.
India is targeting to become carbon neutral by 2070 and is expanding the 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 per cent.
The alliance will help by encouraging global biofuels trade, developing concrete policies on lesson-sharing and promoting the provision of technical support for national biofuels programmes worldwide.
At the press conference on Monday, Brazil President Lula also spoke about the permanent membership of the United Nations Security Council (UNSC).
"We also want to discuss permanent membership of the UN Security Council which is important for us to change the geography of 1945 and put on the new map of 2024 which is the year when we are going to have the discussion, the G20 in Brazil," Lula said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)