The G-20 and its Focus on Energy

• The importance of sustainable energy for a global economy has been a significant point on the G20 agenda since 2009.
• The G20 countries are responsible for nearly 80% of the world’s greenhouse gas emissions and about 75% of the global energy demand.
• The goal of achieving net-zero carbon emissions was declared during Italy’s presidency in 2021 and was reiterated during Indonesia’s presidency in 2022.
• India’s aim to achieve net-zero emissions by 2070 is largely dependent on a successful energy transition, which is also a critical step towards mitigating the severe impacts of climate change , arguably one of the most significant challenges faced by humanity.

Challenges Faced:

• Geopolitical conflicts: Despite the global economy being shaken by the pandemic, rising inflation , and the devastating conflict in Ukraine, energy continues to be a key factor influencing geopolitical dynamics.
• Environmental Challenges: The energy sector is responsible for about 90% of carbon dioxide (CO2) emissions and approximately 75% of global greenhouse gas (GHG) emissions.

The Importance of the G-20 Group for India’s Energy Goals

• India has the opportunity to collaborate with G-20 countries in implementing strategies for the transition to renewable energy.
• As the president of the G-20, India can establish international partnerships to accelerate the development and application of sustainable energy technologies while ensuring access to electricity for low-income nations.
• During India’s G-20 presidency, there is potential for cooperation in ensuring equal access to affordable energy and a steady supply of fossil fuels.
• The G-20 Energy Transitions Working Group emphasizes the need for collaborative efforts from all member countries to achieve a cleaner, more sustainable energy future with policies that promote equal access to clean technology.

What Actions Can India Take?

• India should prioritize its energy transition objectives by promoting green growth, climate financing, and technological innovation within the G-20 framework.
• By demonstrating that environmental conservation and economic growth can coexist, India is increasingly setting an example for other countries.
• The International Solar Alliance (ISA) can assist India in promoting the adoption of solar energy and investment in solar projects globally while collaborating with G-20 countries.
• India can leverage the ISA to secure financial support for its climate change mitigation measures, which include promoting renewable energy sources and reducing carbon emissions.

Conclusion: India’s presidency of the G-20 presents a unique opportunity to encourage member countries to embrace clean energy sources more rapidly. By facilitating technology transfers, promoting green growth, and supporting climate finance, India can bridge the gap between the Global South and North and expedite the implementation of the 2030 Agenda for Sustainable Development. This win-win arrangement would benefit all member nations.