G20 underlines importance of a just, sustainable energy transition

Energy ministers from the Group of 20 nations met in Goa, India, on July 22, 2023, in an effort to accelerate the transition to clean, affordable and inclusive energy systems.

The gathering was held under India's G20 Presidency, with the theme One Earth, One Family, One Future.

During the meeting, ministers emphasized the need for technology sharing and for low-cost financing, especially for developing countries, which they said would be crucial for a just transition to sustainable energy. Globally, 675 million people are without electricity, and 2.3 billion people rely on harmful cooking fuels.

The transition from fossil fuels to clean energy sources will depend on critical minerals, such as copper, lithium, nickel and cobalt. These are essential components in many of today’s rapidly growing clean energy technologies, from wind turbines to electric vehicles. The consumption of these minerals could increase six-fold by 2050, according to the International Energy Agency.