The US and Brazil have joined forces with India to increase demand for biofuels as a means of reducing dependence on fossil fuels and mitigating the impact of climate change, as reported by Bloomberg on February 5. The three countries, which are some of the largest producers of biofuels in the world, plan to work together on research and development and share technical knowledge and best practices in the production and use of biofuels. Moreover, the global demand for biofuels significantly pushes this collaboration to find cleaner and more sustainable energy sources.
The US and Brazil have already been promoting the use of biofuels such as ethanol and biodiesel as a means of reducing greenhouse gas emissions and improving energy security. India, on the other hand, has set a target of achieving 20% ethanol blending in gasoline by 2030 and has been increasing production of biodiesel. The Indian government has also announced plans to invest USD4.3bn in energy transition and security. This investment is expected to help India meet its energy needs, rely less on fossil fuels and mitigate the impact of climate change. The collaboration between the US, Brazil, and India is expected to result in increased efficiency and cost savings in the production and use of biofuels, as well as increased investment and job opportunities in the industry.