Press briefing of Cabinet Decision taken on 2023-07-17

Sri Lanka to be a founding member of the Global Biofuels Alliance

- It has been announced at the India Energy Week held in February 2023 that steps will be taken to form a Global Biofuel Alliance during India's G20 presidency. Under the proposed alliance, it is expected to corporate the countries such as Brazil, India and the United States which are leading biofuel producers and consumers, with other interested countries and encourage the sustainable usage of biofuels in the energy sector especially in transportation. Also, the proposed Alliance will pay their attention on developing and strengthening the market by facilitating the global biofuels trade, sharing the best practices towards the development of optimal policies and providing technical support for worldwide national biofuel practices. India seeks the endorsement of all the nations to join the said new Alliance and has invited Sri Lanka to sign the Foundational Document to become a founding member of the Alliance. Accordingly, the proposal made by the Minister of Power and Energy for Sri Lanka to be a founding member of the Global Biofuels Alliance, was approved by the Cabinet.