The G20 Energy Transitions Ministers met at Goa, India under India’s G20 Presidency, with the theme “One Earth, One Family, One Future”.

The G20 members recognize the urgent need for advancing energy transitions, through various pathways, for contributing towards achieving our Sustainable Development Goals (SDGs) as well as global net zero green-house gas emissions/carbon neutrality by or around midcentury.

Another key outcome is the critical role of renewables in the energy mix, as a solution contributing to universal energy access, and the need to enhance cooperation, collaborations, financing, capacity building, technical assistance, partnerships, and technology sharing on voluntary and mutually agreed terms.

However, no action plan to phase out the use of fossil fuels was produced. Indeed, the final declaration makes no mention of coal, a source of greenhouse gases.

The participants also highlighted the importance of climate finance and making financial flows consistent with a pathway towards low greenhouse gas emissions and climate resilience. Developed countries were urged to fulfill their commitments to deliver on the goal of jointly mobilizing USD 100 billion per year by 2020 and through to 2025 in the context of meaningful mitigation action, with transparency on implementation. In this context, mobilization of international public and private finance to support inclusive and sustainable energy development is key.

The document also included an Annex with High Level Voluntary Principles on Hydrogen. Among other principles, it states the need to promote investments, mobilize finance, and develop infrastructure for enhancing the production, utilization, and global trade of hydrogen produced from zero and low emission technologies and its derivatives such as ammonia.