G20 Summit: PM Modi announces launch of Global Biofuel Alliance

New Delhi: India 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 per cent.

Speaking at the G20 Summit session on 'One Earth', Prime Minister Narendra Modi also proposed to launch the 'G20 Satellite Mission for Environment and Climate Observation' and urged leaders to start working on 'Green Credit Initiative'.

"Today, the need of the hour is that all countries should work together in the field of fuel blending. Our proposal is to take an initiative at a global-level to take ethanol blending in petrol up to 20 per cent," he 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," Modi said at the session attended by US President Joe Biden, Saudi Arabia Crown Prince Mohammed bin Salman, UK Prime Minister Rishi Sunak among others.