The grouping is also a unique mix of rich and emerging economies — from the US and the EU to India and China which have varied priorities based on their economic status and historical contribution to emissions…reports Asian Lite News
The G20 is set to hold key ministerial meetings this month on clean energy, the environment and climate sustainability , and energy transition that will set the tone for the grouping’s approach to these issues. The G20’s views and resolutions ahead of the UN Climate Meeting (COP28) to be held in Dubai this November are important because member countries are responsible for 80% of global emissions and GDP.
The grouping is also a unique mix of rich and emerging economies — from the US and the EU to India and China which have varied priorities based on their economic status and historical contribution to emissions. The clean energy ministerial is scheduled to be held in Goa on July 21 and 22; the energy transitions minister’s meeting were on July 19 and 20 in Goa; and the environment and climate sustainability ministers’ meeting is on July 28 in Chennai.
The main issues will be G20’s resolve on increasing renewable energy goals, their approach to phasing down fossil fuels, and whether they recognise the importance of the Paris Agreement’s goal of keeping global warming under 1.5 degrees C. The 2015 Paris Agreement has a goal of holding the increase in the global average temperature to well below 2 degrees C and pursue efforts to limit the temperature increase to 1.5 degrees C above pre-industrial levels.
According to people familiar with the matter from some member countries, a communique is expected from the G20 energy ministers on July 22 which will provide a common view of these countries. It is also likely to provide specific targets on renewable energy particularly solar and wind, members attending the meeting said.
“Despite recent record-breaking global investments in renewable energy, a growing disparity between the Global North and Global South persists, with developing and emerging markets consistently receiving significantly lower levels of investment,” said Director-General of International Renewable Energy Agency, Francesco La Camera.
“India has a comprehensive knowledge of the renewable energy sector and a deep understanding of the challenges faced by developing countries when accessing low-cost climate finance. As G20 President, the country can leverage this experience to address these imbalances and ensure an energy transition that leaves no nation behind,” he said.
The High Ambition Coalition—a group of developed nations and island nations that ally in climate negotiations — issued an open letter on Wednesday calling on G20 ministers to keep global warming under 1.5 degrees C over pre-industrial levels and resolve to phase out fossil fuels. HAC which has members such as Vanuatu, France, Denmark, Sweden, Netherlands, and Marshall Islands said: “As the G20 ministers meet in India over the next few weeks, the clear and pressing danger posed by the climate crisis must be at the forefront of discussions…the G20 ministers must demonstrate their leadership in placing the earth on track for a future within the 1.5 degree C temperature limit, which is resilient to the climate shocks already affecting the world’s most vulnerable communities. We cannot afford an overshoot of 1.5 degree C. Accelerating our efforts to achieve a just transition and keep the temperature limit in reach is critical.”
The coalition also called for a resolution on peaking greenhouse gas emission by 2025. “Remaining within 1.5 degrees C will require us to peak greenhouse gas emissions by 2025 at the latest and reduce them by 43% by 2030 compared to 2019 levels. Revised 2030 Nationally Determined Contributions that align with the 1.5 degrees C limit, and new 2035 NDCs that keep nations on that pathway, are crucial. We will not stay within 1.5 degrees C without reducing fossil fuel production. Further fossil fuel expansion risks rendering the eventual transition more expensive and disruptive to economies and societies. Phasing out fossil fuels will not be easy, but humankind cannot afford to delay. We must bring the fossil fuel era to an end together, and agree a plan to do this at COP28.”
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