G20: 50% non-fossil based fuel production target by 2030- PM Modi
During the G20 Energy Ministers’ meeting in Goa, Prime Minister Narendra Modi discussed the major efforts being made by India in the field of green development and energy transition. In his address, Prime Minister Narendra Modi said that India is the most populous nation and the fastest growing large economy in the world, yet we are making firm progress on our climate commitments.
G20: 50% non-fossil based fuel production target by 2030- PM Modi
During the G20 Energy Ministers’ meeting in Goa, Prime Minister Narendra Modi discussed the major efforts being made by India in the field of green development and energy transition. In his address, Prime Minister Narendra Modi said that India is the most populous nation and the fastest growing large economy in the world, yet we are making firm progress on our climate commitments.
He said, “We achieved our non-fossil, installed electricity capacity target 9 years ago. We have now set a higher target, we plan to achieve 50% non-fossil installed capacity by 2030. India is one of the global leaders in solar and wind power.”
PM said, “We have started the rollout of 20% ethanol-blended petrol this year, we aim to cover the entire country by 2025. We need to find ways to bridge the technology gap, boost energy security and diversify supply chains.”
Asia and Africa ministers pledge to end poverty
At the G20 meeting held in Goa on Saturday, ministers from Asia and Africa resolved to explore opportunities for cooperation to increase access to affordable energy for their growing populations. The ministers issued a statement after the meeting, noting that they will advance the appropriate energy transition agenda in their countries by creating a ‘South-South knowledge-sharing network’. The ministers said this on the sidelines of the G20 Energy Transition Ministerial Meeting (ETMM).
During the meeting, the ministers shared best practices and learnings in policy and regulatory design, technology co-development and transfer, scale and deployment of renewable energy and private sector investment in energy infrastructure. Present countries also resolved to work together to shape domestic initiatives and promote more sustainable and equitable economic growth.
Also India’s Minister of Petroleum and Natural Gas and Minister of Housing and Urban Affairs Hardeep Singh Puri said that the Global South is faced with the challenge of addressing the trinity of energy availability, affordability and sustainability. Biofuels, biogas and green hydrogen have great potential for energy sustainability and there is enormous scope for experience sharing in the Global South.
The participating ministers reiterated that countries in developing regions are playing an increasingly important role in the world economy, and closer cooperation will enable them to better engage in global policy debates and shape the international agenda. During the event, Samir Saran, Chairman of the Think20 India Secretariat and President of the Observer Research Foundation (ORF), said, “India and Africa share common challenges, opportunities and developmental aspirations, making them natural partners.
The 4th G20 Energy Transition Ministerial Meeting (ETMM) is being held in Goa, which aims to promote clean energy transition within the G20 and beyond. Significantly, at this time the presidency of G20 is with India.
Goa’s G20 meeting condemns war in Ukraine
At the G20 Energy Transition Ministerial meeting held in Goa on Saturday, a majority of members strongly condemned the Ukraine war, stressing that it was causing enormous human suffering, the meeting’s chairman said. In an outcome document released after the meeting, the chairman said that the majority of members expressed that the war was exacerbating existing vulnerabilities in the global economy, constraining growth, increasing inflation, disrupting supply chains, increasing energy and food insecurity, and increasing financial stability risks.
Union Minister for Power and New & Renewable Energy RK Singh was the chairman of the meeting. India is presiding over the G20 this year. The document states that the war in Ukraine has adversely affected the global economy.
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