G20 leaders have agreed to accelerate energy transitions in order to achieve climate objectives. They will support innovation, technology transfer, and low-cost financing to foster clean and sustainable energy. The leaders also emphasized the importance of uninterrupted energy flows, energy security, and market stability. Developing countries will be supported in their transitions to low carbon emissions through low-cost financing.
The ministerial on energy transition in Goa last week set a direction, but yielded less than what was sought for. There was no consensus on an agreement with targets or clear markers for sustainable low-carbon energy systems.
Addressing the G20 group’s role in advancing sustainable and inclusive energy transition, PM Modi stressed the importance of including the Global South and providing low-cost finance for developing countries