G20 Agrees to Triple Renewables, But Not Enough

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by KnowESG
KnowESG_G20 Agrees to Triple Renewables, But Not Enough
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The G20 leaders agreed to pursue a significant increase in renewable energy capacity by 2030, but stopped short of setting major climate goals.

The world's 20 largest economies have been divided on how to reduce fossil fuel use and greenhouse gas emissions and increase renewable energy targets.

One sticking point was a proposal by Western countries to triple renewable energy capacity by 2030 and cut greenhouse gas emissions by 60% by 2035. This was opposed by Russia, China, Saudi Arabia, and India.

The declaration adopted by the G20 leaders did not mention cutting greenhouse gas emissions. Instead, it said that member nations will "pursue and encourage efforts to triple renewable energy capacity globally ... in line with national circumstances by 2030."

The G20 countries together account for over 80% of global emissions, so their efforts to decarbonise are crucial to the global fight against climate change. The world will be watching closely to see how the G20 countries follow up on their commitments at the COP28 UN climate summit in the UAE later this year.

The G20 has agreed to phase down "unabated coal power," but it did not mention reducing the use of crude oil. This suggests that countries like Saudi Arabia, which are major oil producers, were able to get their way in the negotiations.

Overall, the G20 summit was a disappointment for climate activists. The leaders did not set ambitious enough goals and did not address the need to reduce fossil fuel use. However, the agreement to triple renewable energy capacity by 2030 is a positive step, and it will be important to see how the G20 countries implement this commitment.

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Source: Arab News

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