The first meeting of the G20 Energy Transitions Working Group (ETWG) is scheduled to be held in Bengaluru, which among other issues will deliberate on addressing technology gaps and financing for green energy transition, Power Minister R K Singh said on Thursday.
ETWG, while retaining focus on achieving energy transition, will emphasise on addressing technology gaps and financing to ensure that it is delivered across countries in a time-bound and affordable manner without compromising the energy needs of the communities, he said.
The outcome of deliberations would include agreement to advance cooperation initiatives under RD20 Platform (Research and Development 20), roadmap for channelising adequate low-cost international finance towards deployment of critical technologies, declaration on collective efforts to ensure energy security and diversified supply chains of new energy sources, he added.
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Other key issues to be taken up include a roadmap for doubling the global rate of improvement in energy efficiency by 2030, an action plan for enhancing and promoting bio-energy cooperation, and recommendations on global best practices for supporting just, affordable, and inclusive energy transitions.
The priority areas for ETWG include energy transition through addressing technology gaps, low-cost financing for energy transition, energy security and diversified supply chains, industrial low-carbon transitions, and responsible consumption and fuels for future (3F).
A key issue that is a part of the deliberations at the three-day event is the universal access to clean energy and just, affordable, and inclusive energy transition pathway.
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To set the agenda and identify action areas for the planned Energy Transition Ministerial Meeting (ETMM), ETWG will conduct three more working group meetings at Gandhinagar (April 2023), Mumbai (May), and Goa (July). The ETMM meeting will also take place in Goa after the fourth ETWG meet.
India is hosting more than 150 delegates from 19 countries, European Union and non-guest countries. In addition, leading international organisations and regional organisations and knowledge partners will be part of the meetings.