Union Minister of Power, New and Renewable Energy, R K Singh briefed the media about the first ‘Energy Transitions Working Group’ meeting to be held in Bengaluru from February 5 to 7, 2023.
Addressing the media on Thursday, Singh said, “India is hosting the prestigious G20 summit this year, the premier forum for international cooperation. The G20 members represent around 85 per cent of the global GDP, over 75 per cent of the global trade, and about two-thirds of the world population. It plays an important role in shaping and strengthening global architecture and governance on all major international economic issues.
As per the Ministry of Power, “The priority areas for the Energy Transitions Working Group (ETWG) include Energy Transition through Addressing Technology Gaps, Low-cost Financing for Energy Transition, Energy Security and Diversified Supply Chains, Energy Efficiency, Industrial Low Carbon Transitions and Responsible Consumption, Fuels for Future (3F) and Universal Access to Clean Energy and Just, Affordable, and Inclusive Energy Transition Pathways.
Giving details of the events, Singh said that the ETWG while retaining focus on achieving energy transition, will emphasise addressing technology gaps and financing to ensure that it is delivered across countries in a time-bound and affordable manner without compromising the energy needs of the communities.
“The expected outcomes of the deliberations would include an agreement to advance cooperation initiatives under the RD20 Platform (Research and Development 20), a roadmap for channelizing adequate low-cost international finance towards deployment of critical technologies, and a declaration on collective efforts to ensure energy security and diversified supply chains of new energy sources,” Singh said.
Singh further added that a Roadmap for doubling the global rate of improvement in energy efficiency by 2030, an action plan for enhancing and promoting bio-energy cooperation, and recommendations on global best practices for supporting Just, Affordable, and Inclusive energy transitions will also be included.
On the sidelines, a high-level international seminar on ‘Carbon Capture, Utilization and Storage (CCUS)’ has been organized at the 1st ETWG. The seminar will focus on highlighting the importance of carbon capture, utilization, and storage considered vital for achieving net-zero targets, Singh marked.
To set the agenda and identify action areas for the planned Energy Transition Ministerial Meeting (ETMM), ETWG will conduct four (4) working group meetings, Singh informed.
India is hosting 150+ delegates from 19 countries, European Union and 9 guest countries for the meeting. In addition, leading International Organisations, Regional Organisations, and knowledge partners will be part of the meeting.
India’s G20 Presidency will share, collaborate, and build on the sense of trusteeship among the member countries to help build a sustainable future for all.
This report is filed by ANI news service. TheNewsMill holds no responsibility for this content.