During the G20 summit, leaders agreed to triple global renewable energy capacity by 2030 and acknowledged the need to phase out unabated coal power, as reported by Reuters on September 9. However, they fell short of setting significant climate goals, as disagreements among member countries persisted. Western nations proposed ambitious targets to triple renewable energy capacity by 2030 and reduce greenhouse gas emissions by 60% by 2035, but these proposals faced opposition from countries like Russia, China, Saudi Arabia, and India during pre-summit meetings.

The final declaration did not explicitly mention greenhouse gas emission reductions but committed member nations to pursue tripling renewable energy capacity globally by 2030, taking into account their respective national circumstances. Despite the lack of firm commitments, the G20’s collective efforts, given their responsibility for over 80% of global emissions, remain vital in the global fight against climate change. The summit’s climate discussions are closely watched in anticipation of the COP28 U.N. climate summit later in the year, even though the G20 did not agree on reaching net-zero emissions goals faster than 2050, as proposed by the G7 nations. Instead, they reiterated their commitment to achieving global net-zero greenhouse gas emissions or carbon neutrality by or around mid-century, while considering scientific developments and varying national circumstances. The declaration also emphasized the importance of providing low-cost and sustainable financing to support developing countries in their transition to lower emissions.

Sources:

https://www.reuters.com/sustainability/g20-agrees-pursue-tripling-renewables-capacity-stop-short-major-goals-2023-09-09/