G20 member nations agree to India's proposal to double rate of improvement in energy efficiency by 2030

New Delhi:  G20 member nations meeting for the final Energy Transition Working Group (ETWG) meeting on Thursday agreed to India's voluntary action plan which includes a proposal to double the rate of improvement in energy efficiency by 2030, Pankaj Agarwal, ETWG chair and secretary of the Union ministry of power told reporters in a briefing.

"There has been substantial breakthrough in our discussions with the group of 28 member and invitee countries in our ETWG meetings. The member nations have taken note of the voluntary action plan proposed by India on doubling rate of energy efficiency improvement by member countries, which is the ultimate way to lower emissions", Agarwal said.

"There was also significant convergence on hydrogen related issues in our discussions. The working group took note of the Green Hydrogen Innovation Centre proposed by India and the Global Biofuels Alliance which is proposed to be launched by India - it is the way to reduce ultimate emissions. The power ministry said G20 member nations agreed that technological gaps like carbon capture, utilization and storage, biofuels, small and modular reactors, and hydrogen are important to address in India and the member nation's energy transition goals.

An important outcome of the discussions was agreement on enabling access to low-cost financing of energy transition projects in India.

The communique detailing the outcomes of the meeting is likely to be released late Thursday or early Friday mornings as the deliberations continue late into the night.

Mint had reported in January that India planned to prepare a collaborative road map to double the global rate of improvement in energy efficiency by 2030. “Talks will take place on accelerating efforts to enhance energy efficiency across sectors, and more in the high energy consuming sectors, among others," Mint had reported.

AlThe talks were expected to cover issues such as technology transfer for energy efficiency, promotion of energy conservation and adoption of highly efficient appliances, Mint had reported.

The power secretary said that significant progress was made in the working group meeting, as members arrived at a consensus on many incremental proposals put forth by the Indian Presidency. Efforts are ongoing to negotiate further on remaining points, he said.

The outcome of the working group meeting will be presented to the Energy Ministers for the declaration during the Energy Transitions Ministerial Meeting scheduled for 22nd July. The Secretary expressed optimism on reaching a balanced consensus among all G20 members to support and collaborate in accelerating Energy Transition.