India proposes Biofuel Alliance among IPEF members

The aim is to enhance energy security, affordability, and accessibility through sustainable biofuels, mirroring the approach of the G20 Global Biofuels Alliance

October 23, 2023

India is set to advocate for technology transfer among the 14 member countries within the Indo-Pacific Economic Framework (IPEF)

India is championing technology transfer via collaborative ventures within the clean energy sector

The Global Biofuels Alliance aims to fortify global biofuels trade

These discussions fall under the purview of Pillar 3 of the IPEF, which revolves around fostering a clean economy

In the ongoing sixth round of talks at the Indo-Pacific Economic Framework (IPEF) in Malaysia, India has proposed a collaborative effort focused on biofuels within the framework, mirroring the approach of the G20 Global Biofuels Alliance. 

The aim is to enhance energy security, affordability, and accessibility through sustainable biofuels. Furthermore, India is set to advocate for technology transfer among the 14 member countries within the IPEF, with the objective of reducing greenhouse gas emissions and bolstering energy security. These discussions fall under the purview of Pillar 3 of the IPEF, which revolves around fostering a clean economy and are expected to conclude by the end of this week.

Additionally, India is championing technology transfer via collaborative ventures within the clean energy sector. Supported by G20 nations and a dozen global organisations, including the World Bank, Asian Development Bank, International Energy Agency, and the International Energy Forum, the Global Biofuels Alliance aims to fortify global biofuels trade and was launched during the New Delhi G20 Leaders Summit.

The current round of IPEF talks is scheduled to conclude on October 24, with negotiations encompassing Pillar 3 and Pillar 4, which addresses a fair economy, anticipated to be finalised in this round. 

The IPEF was jointly initiated by the US and other partner countries in the Indo-Pacific region., featuring nations such as Japan, Australia, and seven ASEAN members. 

Source: Economic Times

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