NEW DELHI: Leaders from the group of 20 major economies, G20, on Saturday agreed to pursue and encourage trebling of renewable energy capacity globally and uphold their 2009 Pittsburgh promise to eliminate and rationalise in fossil fuel subsidies.
According to the joint declaration released on the first day of the summit in Delhi, the leaders also agreed to doubling of energy efficiency improvement by 2030 and setting up a green hydrogen innovation centre under the International Solar Alliance to promote technology and a free market for the ‘fuel of the future’.
The trebling of renewable capacity and reducing greenhouse gas emission by 65% by 2035 had emerged as the sticky points preventing consensus for a joint statement. The proposal being pushed by the West and being opposed by major fossil fuel producers such as Saudi Arabia, Russia and consumers such as China.
The Delhi Declaration released on Saturday, the first day of the G20 summit, indicated some give-and-take to pave the way for a consensus. For example, the leaders accepted that the pace of expansion in renewable capacity will be “in line with national circumstances by 2030”.
Collective action by the G20 countries is important for meaningful fight against climate change as they together account for 85% of the world’s GDP and 80% of global emissions.
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