G20 Nations Renew Commitment to Phasing Down Coal Power and Eliminating Fossil Fuel Subsidies

G20 Nations Renew Commitment to Phasing Down Coal Power and Eliminating Fossil Fuel Subsidies

VoM News Desk | September 9, 2023 | 02:38 PM IST | Breaking News, World | Follow on Google News

G20 Nations Renew Commitment to Phasing Down Coal Power and Eliminating Fossil Fuel Subsidies. Image/

Renewed Commitment to Climate Goals

In a significant development at the G20 Summit, held in New Delhi, member countries reaffirmed their commitment to expedite efforts aimed at phasing down unabated coal power, aligning their actions with their national circumstances. This move is in line with their 2009 pledge, made in Pittsburgh, to eliminate and rationalize inefficient fossil fuel subsidies.

A Pledge for a Greener Future

The G20 New Delhi Leaders’ Declaration reflects the acknowledgment by major economies of the pressing need to accelerate the development, deployment, and dissemination of technologies that facilitate the transition to low-emission energy systems. A key aspect of this commitment involves the rapid expansion of clean power generation.

The 2009 Promise Revisited

The declaration specifically states, “We will increase our efforts to implement the commitment made in 2009 in Pittsburgh to phase out and rationalize, over the medium term, inefficient fossil fuel subsidies that encourage wasteful consumption and commit to achieving this objective, while providing targeted support for the poorest and the most vulnerable.” This reiteration of their commitment signifies a determination to move towards cleaner and more sustainable energy practices.

Embracing Low-Emission Energy Systems

The G20 countries also emphasize the importance of speeding up the development, deployment, and dissemination of technologies, along with the adoption of policies that facilitate the transition to low-emission energy systems. This includes a strong focus on rapidly scaling up the deployment of clean power generation, which encompasses renewable energy sources. Additionally, the declaration highlights the significance of energy efficiency measures as part of the broader effort to phase down unabated coal power.

Prime Minister Modi’s Announcement

Prime Minister Narendra Modi, while presiding over the G20 leaders’ meeting, announced the adoption of the Declaration. This step underscores India’s commitment to addressing climate change and promoting sustainable development on the global stage.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.