This is an archive article published on September 12, 2023

Opinion Express View on G20 and climate action: Green step forward

G20 Declaration has laid ground for concerted climate action. The momentum should not be lost

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Amongst the major outcomes of the meet was an agreement to triple the bloc's renewable energy capacity by 2030.

September 12, 2023 08:35 AM IST First published on: Sep 12, 2023 at 07:05 AM IST

The G20 countries collectively account for more than 80 per cent of global GHG emissions. However, members of the group have traditionally had differences over shouldering the burden of global warming mitigation. Rigid positions on footing the bill have come in the way of evolving plans for concerted climate action, especially at UN fora. It is, therefore, heartening that the G20 summit at Delhi has concluded with a declaration that has gone beyond the usual acknowledgement of the seriousness of the crisis. Amongst the major outcomes of the meet was an agreement to triple the bloc’s renewable energy capacity by 2030.

A small, but important, step forward was also taken on the contentious issue of “phasing out fossil fuels”. The declaration recognised the “need to accelerate efforts towards phase down of unabated coal power in line with national circumstances”. In itself, this might not seem very different from the statements of the last two UNFCCC CoPs. But, the Delhi Declaration seems to have made some headway towards breaking the deadlock on financing the green transition. For the first time, G20 nations appear to be on the same page on the funds that must be summoned for the clean energy shift — developing countries will require $5.9 trillion by 2030 to meet their climate goals.

According to International Renewable Energy Agency data, an impressive 83 per cent of all power capacity added in 2022 came through renewables. India and China are on course to meet their renewable energy-related Paris Pact commitments. Even then tripling capacities in the next seven years is an ambitious target. It would mean adding close to 1,000 GW every year till 2030 — to put things in perspective, last year’s record increase in RE capacity amounted to less than 300 GW.

Attaining the G20’s clean energy goals will require setting up infrastructure and making the economic environment congenial in countries that are lagging on this front. The inclusion of the African Union in the G20 could provide the impetus for an energy transition in the power-starved continent. Red tape and the poor state of the region’s power companies have deterred investors even though, according to the International Energy Agency, “Africa is home to 60 per cent of the best solar resources globally”. The India-helmed International Solar Alliance, still a work in progress, could help African countries develop bankable renewable energy assets.

In a little over two months from now, climate diplomats will meet in Dubai to audit progress on the Paris Pact’s goals and make necessary course corrections. They must carry forward the momentum generated in Delhi.