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G20 Agrees To Pursue Tripling Renewable Energy Capacity, But Stops Short Of Major Goals
Eko Hot Blog reports that the world’s 20 major economies have agreed to pursue tripling renewable energy capacity globally by 2030 and accepted the need to phase down unabated coal power, but stopped short of setting major climate goals.
The G20 leaders’ declaration, adopted on the first day of the two-day summit in New Delhi, did not mention cutting greenhouse gas emissions. However, it did say that member nations “will pursue and encourage efforts to triple renewable energy capacity globally … in line with national circumstances by 2030.”
The G20 member countries together account for over 80% of global emissions, so a cumulative effort by the group to decarbonise is crucial in the global fight against climate change.
The declaration also did not commit to reaching net zero commitments faster than 2050, something that the G7 nations were pushing for. Instead, it said: “we reiterate our commitment to achieve global net zero greenhouse gas emissions/carbon neutrality by or around mid-century, while taking into account the latest scientific developments and in line with different national circumstances.”
The declaration also noted the need to provide low-cost and sustainable financing to developing countries to support their transition to lower emissions.
The G20’s agreement to pursue tripling renewable energy capacity is a positive step, but it is not enough to meet the Paris Agreement’s goal of limiting global warming to well below 2 degrees Celsius above pre-industrial levels. More ambitious climate goals are needed from the G20 and other major economies in order to avert the worst impacts of climate change.
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