G20 Summit Commits to Clean Energy Transition

At the G20 Summit, Prime Minister Modi emphasized the group's commitment to triple renewable energy capacity and double energy efficiency by 2030, reflecting India's proactive stance in sustainable development. He outlined India's achievements, including providing housing to 40 million families and clean water to 120 million households, while also highlighting India's ambitious target of 500 gigawatts of renewable energy by 2030, of which 200 gigawatts have already been reached. The Prime Minister called for prioritizing the needs of the Global South, particularly small island developing states, and urged support for India's Global Development Compact. Concurrently, an analysis indicated that scaling clean energy finance in emerging markets is crucial, as these countries could account for over 60% of the increase in clean energy over the next decade. The G20 faces a pivotal choice between supporting inclusive renewable energy investment or risking the neglect of poorer nations in the clean energy transition. Overall, there is a growing recognition that advancing clean energy technologies is key to sustainable economic growth and job creation globally.