At Delhi summit, demonstrate climate leadership

Source: The post is based on the article “At Delhi summit, demonstrate climate leadership” published in “The Hindu” on 29th August 2023.

Syllabus: GS2- International relations – Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests

News: This article stresses the G-20 nations must work together for clean energy and climate goals. They point out the important G-20 summit in New Delhi as a chance for leaders to commit to fighting climate change.

About G-20 countries energy shifts

G-20’s Shift: Members increased their renewable energy mix from 19% in 2010 to 29% in 2021.

India’s Progress: Became the third-largest renewable energy producer, aiming for 50% renewable energy by 2030.

Support for Green Steel: G-20 produces 90% of global steel, highlighting the importance of transitioning to low-carbon steel production.

Unified Action: The upcoming G-20 summit in New Delhi is a crucial platform for countries to further commit to clean energy and climate goals.

What is needed by G-20 countries to create a significant energy shift?

1. Improving Energy Transitions in Governments

Set clear governance structures: Ensure processes are inclusive and results are equitable, avoiding siloed operations.

Emulate successful models: Take cues from South Africa’s just transition framework, which was spearheaded by the Presidential Climate Commission.

2. The Importance of Decarbonization

Industrial shift: As G-20 countries are responsible for 90% of steel production, there’s an urgent need to transition to low-carbon steel.

Green financial support: Encourage financial institutions to support renewable projects and embrace low-carbon technologies. For example, Green Public Procurement could be beneficial in achieving this.

3. The Need for Transparency in Energy Transitions

Accountability: G-20 countries should regularly disclose their progress on energy transitions to ensure they are on track.

Collaboration: Utilizing platforms such as the G-20 Energy Transitions and Sustainable Finance Working Groups, along with the Just Energy Transition Partnerships (JET-Ps), can assist countries in collaborating and exchanging best practices.