G20 members support Global Biofuel Alliance
The important role of international financial structure including raising the ambitions of multilateral financial institutions was discussed at the 2nd Energy Transitions Working Group Meeting (ETWG) under India’s G20 Presidency.
The importance of coordinating actions with Sustainable Finance Working Group was also discussed at the two-day meeting held in Gandhinagar 2-3 Apr 2023.
Member countries supported the formation of Global Biofuels ETWG Alliance.
Over 100 delegates from G20 member countries, 10 special invitee countries and 14 International Organisations participated in the meeting which was concluded on 3 Apr 2023.
Building on the discussions from the 1st ETWG, held in Bengaluru 5-7 Feb 2023), member countries engaged in constructive discussions and deliberations focusing on key priority areas, outlined under India’s Presidency.
Member countries also reaffirmed their commitment to energy transition through addressing technology gaps, and there was broad consensus amongst members to align with other global organisations such as Clean Energy Ministerial (CEM), Mission Innovation (MI) and RD20 to achieve tangible outcomes.
Protecting intellectual property rights in the context of technology transfer was also emphasized. It was also agreed to continue with a focus on deployment of clean mature technologies such as Solar PV and Offshore Wind.
The meeting was complemented by three side events – Green Hydrogen – Advancing Net Zero Pathways, Diversified Renewable Energy Supply Chains for Advancing Energy Transitions and Accelerating Cooling as a key enabler towards energy transition.
The discussions focused on policy, regulatory, and financial frameworks and to promote cooperation amongst G20 nations. fiinews.com
