No consensus on fossil fuels at G20 energy meet

“Some countries felt, instead of a phasing down of fossil fuels, there were also options of carbon capture utilisation, storage and options of abatement, which is legitimate. But, the larger part of G20 was for phasing down of unabated use of fossil fuels. So, that went to the chair summary as there was no unanimity,” said Singh.

He added that ministers have adopted an outcome document and chair summary, as well as G20 high-level voluntary principles on hydrogen. “We had complete agreement on 22 out of 29 paragraphs. The seven paragraphs constitute the chair summary,” he said.

As per the Chair summary, fossil fuels continue to play a significant role in global energy mix, eradication of energy poverty and in meeting the growing energy demand. “…The importance of making efforts towards phase down of unabated fossil fuels, in line with different national circumstances was emphasised by some members, while others had different views on the matter that abatement and removal technologies will address such concerns,” it read.

“Developed countries were urged to fulfill their commitments to deliver on the goal of jointly mobilising $100 billion per year by 2020 and through to 2025 in the context of meaningful mitigation action, with transparency on implementation,” the summary added, implying a lack of consensus over mobilisation of climate finance. As per the summary, the ministers also discussed the issue of conflict between Ukraine and Russia with countries differing in views.

“Most members strongly condemned the war in Ukraine and stressed it is causing immense human suffering and exacerbating existing fragilities in the global economy – constraining growth, increasing inflation, disrupting supply chains, heightening energy and food insecurity, and elevating financial stability risks. There were other views and different assessments of the situation and sanctions. Recognising that the G20 is not the forum to resolve security issues, we acknowledge that security issues can have significant consequences for the global economy,” it said.