Energy transition through biofuels is a great opportunity to create, modernize industries and boost technological innovation. Discuss (200 Words)
Refer - Business Line
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IAS Parliament 2 years
KEY POINTS
· Brazil has spearheaded some of the paradigm shifts in the field of biofuels, especially bioethanol, way before they became an urgent necessity because of climate change.
· The incremental regulation for ethanol blending in petrol, which currently stands at a 27 per cent mandate, paved the way for increased consumer uptake and inclination for the fuel.
· The ethanol economy received a renewed push by the affordable and simple technological novelty of the “flex engine” disseminated in Brazil after 2003, which allows the same vehicle to be powered by 100 per cent ethanol or petrol, or any intermediary mix of the two. Brazil is one of the largest producer of cars.
· In an effort to green the transportation sector, there is an increasing trend towards electrification of vehicles, which is often misleadingly synonymised with one of its options battery-powered electric vehicles (BEVs).
· Being tropical countries, the two largest producers of sugarcane in the world are, therefore, well poised to spearhead together ethanol as a global commodity and pave the way for a new international market that favours developing countries in the first place.
· Energy transition through biofuels is a great opportunity to create and modernise industries, boost technological innovation, attract investment and generate high quality jobs.
