Page 43 - Policy Economic Report - September 2024

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

The sides highlighted the importance of the establishment of consistent international standards, such as
the sustainability criteria defined within the scope of Carbon Offsetting and Reduction Scheme for
International Aviation (CORSIA/ICAO) and reinforced the principle of technological neutrality with regards
to the different technological pathways and raw materials used in the sustainable production of aviation
fuels.

The sides recognised the role an India-Brazil partnership in SAF can play in the deployment and
development of the Sustainable Aviation Fuel Sector through leveraging and catalysing of regional value
chains to ramp up SAF production, trading, distribution, and certification, which inter-alia will support the
enhancement of availability, affordability and reliability of SAF.

The sides noted that the modes for such cooperation could include the following:

1. Leverage Ethanol Production from all sources;

2. Promote technology exchange, joint research, and development initiatives, in order to optimize
SAF production processes;

3. Share regulatory and policy experience, with a view to create frameworks that encourage
investment in SAF production;

4. Cooperate in RD&I with a view to enhance the Technology Readiness Level (TRL) of production
pathways;

5. Collaborate in multilateral forums, such as ICAO, in order to promote the development of SAF.

The sides acknowledged that collaboration between the two countries represents a strategic partnership
in line with the sustainable development and carbon reduction goals of both countries. By combining
resources, expertise, and technology, India and Brazil can lead the global transition towards lower
emission aviation. This collaboration will not only address pressing environmental challenges but also
open new avenues for economic and technological advancement in the biofuels sector.

The sides therefore reaffirmed their desire to strengthen cooperation between the two countries to usher
in various advantages, which include economic growth, by creating jobs in the rural sector and fostering
innovation in renewable energy technologies and energy security, by reducing reliance on imports.
Importantly, bilateral cooperation in SAF production will contribute to global efforts to reduce the carbon
footprint of aviation.

The ministers underscored that this comprehensive partnership represents a significant milestone in
India-Brazil relations aligning with their shared sustainable development goals. By combining their
resources, expertise, and technology, India and Brazil will not only lead the global transition towards
lower emission aviation but also provide critical support to other Global Biofuels Alliance members in their
decarbonization efforts, ultimately paving the way for a future with cleaner skies.

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