The G20 agrees to triple renewable energy by 2030

The G20 Summit understood as an international forum that brings together the most important global leaders to discuss the future of the global economy and financial stability, met over the last few days in New Delhi (India). With Narendra Modi as host, his peers agreed on a series of steps forward, including tripling renewables.

The leaders of Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Indonesia, Japan, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom and the United States participated in the meeting, as well as the President of the European Council and the President of the European Commission. As well as other countries who also attended as guests.

From the summit came a joint declaration, in which they agreed on the objectives of the climate agenda. "We commit to accelerating clean, sustainable, just, affordable and inclusive energy transitions following various pathways, as a means of enabling strong, sustainable, balanced and inclusive growth and achieve our climate objectives. We recognise the needs, vulnerabilities, priorities and different national circumstances of developing countries. We support strong international and national enabling environments to foster innovation, voluntary and mutually agreed technology transfer, and access to low-cost financing," they wrote.

To achieve these objectives, they set out to "triple renewable energy capacity globally through existing targets and policies", as well as "demonstrate similar ambition with respect to other zero and low-emission technologies, including abatement and removal technologies, in line with national circumstances by 2030."

Joe Biden celebrated these points in a statement on Sunday, suggesting that the rest of the countries are following the Inflation Reduction Act playbook, which he signed into law in mid-2022. Precisely, the legislation included sections that promoted renewable energy in the United States.