The 4th and final meeting of the Task Force on Energy Transitions, held under the Indian Chairmanship of the G20has been successfully concluded in Goa on 20th July 2023.
The two-day meeting has seen the proactive participation of more than 115 delegates representing the G20 member countries and nine invited countries. Discussions focused on critical challenges related to climate change, sustainability, energy security, equitable access to energy and financing, in the context of global energy transitions. The meeting emphasized the urgent need for viable, collaborative and accountable policy actions to accelerate global energy transitions, while ensuring universal energy access and just, affordable and inclusive energy transitions, in line with achieving the Sustainable Development Goals (SDGs).
At the end of the meeting, the Secretary of the Ministry of Energy of the Government of India, Mr. Pankaj Agarwal; Additional Secretary, Ministry of Energy, Government of India, Mr. Ajay Tewari; and Under Secretary, Ministry of New and Renewable Energy, Government of India, Mr. Dinesh Jagdale, held a press briefing to inform the media and the general public about the outcome of the meeting and the way forward.
Expressing his gratitude to all the participants, Union Energy Secretary Shri Pankaj Agarwal highlighted the insightful contributions made during the meeting. “Our resolve and collaborative efforts at this juncture will drive the energy landscape of the times to come.”
The secretary reported that there has been significant convergence on hydrogen-related issues and that the task force has taken note of India’s proposed Green Hydrogen Innovation Center and India’s proposed Global Biofuels Alliance to launch.” There has been a substantive meeting of minds on low cost financing for the energy transition. The Task Force has taken note of India’s proposed voluntary action plan to double the pace of energy efficiency by 2030.”
The Energy Secretary said significant progress was made at the task force meeting as members reached consensus on many incremental proposals put forward by the Indian Presidency. Efforts are underway to further negotiate the remaining points, he added.
The third meeting of G20 Finance Ministers and Central Bank Governors concludes
Affordable access to energy and clean energy solutions were identified as a growing need, along with safeguarding supply chains of critical materials to foster a more sustainable clean energy transition.
The result of the working group meeting will be presented to the Energy Ministers for their declaration during the Ministerial Meeting on Energy Transitions scheduled for July 22.
The secretary expressed his optimism for reaching a balanced consensus among all the members of the G20 to support and collaborate in accelerating the Energy Transition. Additional Secretary of the Ministry of Energy, Government of India, Shri Ajay Tewari, stated that 28 countries are participating in the debate.
A consensus has already been reached on several issues, such as an agreement on all aspects of energy efficiency. A Voluntary Action Plan has been agreed to double the pace of energy efficiency by 2030. “The importance of broadly developing and adopting both existing and emerging clean technologies was underscored, including Carbon Capture, Utilization and Storage (CCUS), Green and Low Carbon Hydrogen and its derivatives, biofuels, Small and Modular Reactors (SMRs), among others.
Participants recognized that technology cooperation and collaborative investment are vital to successfully advance these initiatives. We also hope to come to something positive on the consensus around green hydrogen.” The Task Force on Energy Transitions, led by the Indian Presidency, will publish 13 global studies focused on the progress of energy transitions, which will provide valuable insights and guidance for collective efforts in achieving the transition goals.
Affordable access to energy and clean energy solutions were identified as a growing need
The Task Force on Energy Transitions, led by the Indian Presidency, will publish 13 global studies focused on the progress of energy transitions, which will provide valuable insights and guidance for collective efforts in achieving the transition goals.
Of these studies, eight have already been published and the remaining five will be published in the coming days. The studies cover topics such as low-cost financing for energy transition, renewable energy supply chain, supply chain vulnerability of oil and gas energy sources, role of transnational grid interconnections, energy efficiency doubling rate, importance of biofuels in the energy mix, global best practices for a just transition in the coal sector, and critical role of small and modular reactors in the energy transition.
The working group successfully organized 15 side events during the meeting, attracting more than 2,000 participants. Two other parallel events are planned for the next two days prior to the Ministerial Meeting.