G20 puts forth agenda for energy transition and sustainable growth

Energy and environment ministers of G20 nations have adopted a statement outlining that the potential to transition to clean energy and sustainable environments depends upon improving business environments to encourage innovation and change.

The G20 is made up of 19 countries and the EU. Countries include Argentina, Australia, Brazil, Canada, China, Germany, France, India, Indonesia, Italy, Japan, Mexico, the Russian Federation, Saudi Arabia, South Africa, South Korea, Turkey, the UK and the US.

Held in the Japanese city of Karuizawa on the sidelines of the current G20 Summit in Osaka, the communiqué, published on June 15-16, identifies that in order to have a clean energy future, developed nations must collaborate to leverage competitive advantages.

The announcement demonstrates how in global policy-making arenas, innovation in clean energy technologies and energy efficient solutions are included as part of the solution to the challenges of climate change. Developing climate-resilient infrastructure will also be a priority, and the statement provides room for manufacturing enterprises to capitalise on this emerging need.

The statement also outlines how governments globally will be looking to invest in and adopt new technologies that will enable them to meet their energy reduction targets. In particular, investment in technologies that will encourage the uptake of renewable energy, such as energy storage, smart grid technology, electric vehicles and demand side management, are encouraged, presenting opportunities for manufacturing businesses involved in these areas.

It explicitly identifies the role of the private sector in working alongside government bodies to lead the transformation to a resilient, inclusive and sustainable future.

Governments, including Australia, are exhorted to improve resource efficiency, with the statement noting that “economic growth and environment protection can and should go hand-in-hand”.