G20 countries agree on voluntary action plan for doubling rate of energy efficiency by 2030

New Delhi: The G20 Energy Transition Working Group has agreed on a voluntary action plan for doubling the rate of energy efficiency by 2030, Additional Power Secretary Ajay Tewari told reporters on Thursday at a press conference in Goa without elaborating on the details of the plan. “There’s a consensus on various issues, for example, all paras on energy efficiency have been agreed upon. And our voluntary action plan on doubling the rate of energy efficiency improvement by 2030 has been agreed on by all member countries,” said Tewari.

The 4th and last Energy Transitions Working Group Meeting, held under India's G20 presidency, came to a close, later in the evening after the press conference.

G20 countries agree to work towards low-cost financing

G20 member countries have also agreed to work towards low-cost financing for energy transition, said the Additional Power Secretary. In addition, the member countries also agreed on identified technological gaps which remain to be filled for energy transition — CCUS, biofuels and small and modular nuclear reactors.

Green Hydrogen

A statement released by the Ministry of Power quoted Power Secretary Pankaj Agarwal as saying that there has been significant convergence on hydrogen-related issues and that the working group has taken note of Green Hydrogen Innovation Centre proposed by India and the Global Biofuel Alliance which is proposed to be launched by India. “There has been substantive meeting of minds on low-cost financing for energy transition. The Working Group has taken note of the voluntary action plan proposed by India for doubling of pace of energy efficiency by the year 2030.”

However, it is not known if the G20 member countries have reached a consensus on Green Hydrogen. Commenting on the same during the press conference earlier, the Additional Power Secretary said, “We have been working on a consensus on Green Hydrogen.” Energy experts are expecting the G20 nations to come up with an agreement on the definition and standards for Green Hydrogen. The communique is expected to be released tomorrow.

A total of 13 papers on the energy sector have been prepared, eight of which have been released, while the rest are slated to be released during the four-day long G20 Energy Transition Working Group meeting. The list includes: low-cost financing for energy transition, RE supply chain challenges, addressing the vulnerability of the supply chain of critical minerals, vulnerability of supply chain of oil and gas energy sources, role of trans-national grid inter-connections for energy security, advancing energy efficiency, cost-effective technology solutions to decarbonise hard-to-abate sectors, importance of biofuels in energy mix, accelerating the production and usage of Green Hydrogen, study of best global practices for just transition in coal sector, etc.

The working group successfully organised 15 side events during the meeting, attracting more than 2,000 participants. Two more side events are planned over the next two days leading up to the Ministerial Meeting.

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