New Delhi: The SCO member states including Russia, China, and India on Tuesday agreed on the importance of emerging fuels in the transition to cleaner energy sources and recognized that emerging fuels can play a critical role in promoting a circular economy by efficiently utilizing biological resources to produce various high-value marketable products with least possible impacts on the environment.
Energy ministers of SCO member countries, which also includes Pakistan and four Central Asian nations, attended the SCO energy ministers meeting virtually hosted by India. According to the joint statement, they agreed on the need for greater collaboration in the emerging fuels sector and consider the possibility of developing joint emerging fuel projects for connecting major emerging fuel-producing and consuming countries.
They agreed to take forward sharing of knowledge of technological advancements for effective development and usage of emerging fuels. The SCO member states underlined that energy modeling plays an important role in forecasting energy needs and helps better plan for energy security. “This supports devising inclusive energy policies and setting goals and pathways for transforming energy systems to make the supply of energy accessible, affordable, reliable, and eco-friendly," the parties reiterated.
