The first G20 Energy Ministers Meeting was held on October 2nd in Istanbul. Moreover, the G20 High Level Conference on Energy Access in Sub-Saharan Africa was organized on October 1st.
Ministers focused on inclusive energy collaboration for addressing the energy challenges of today and those of the future, on the basis of the G20 Energy Principles agreed last year.
In line with Turkey’s G20 Presidency’s priorities of Inclusiveness, Investment and Implementation, the following issues were addressed:
Access to energy for all:
Over 1.1 billion people live without access to electricity, many of which are in Sub-Saharan Africa. Energy access is critical for sustainable development as defined in the 2030 Agenda for Sustainable Development. As part of the G20’s contribution to this Agenda, a new “G20 Energy Access Action Plan: Voluntary Collaboration on Energy Access” was adopted. The Plan, prepared with the support of SE4All, African stakeholders and other IO’s, focuses on improving coordination, investment, regional integration and capacity building with a special focus on Sub-Saharan Africa.
Energy Investments in Light of Current Market Conditions:
Energy investments account for a high share of the total investment needs. According to the IEA, meeting the world’s energy needs require $48 trillion investment over the period to 2035. As energy investment decisions taken in today’s market conditions will affect market balances and environmental outcomes in the future, it is crucial to monitor and assess the situation. Energy Ministers emphasized the importance of supporting energy investments in clean energy technologies.
Considering the high growth potential of renewables worldwide, Ministers discussed the ways and means of increasing renewable energy uptake and the challenges. A new “G20 Toolkit of Voluntary Options on Renewable Energy Deployment” was adopted, which was prepared with the support of IRENA and other IO’s. The Toolkit provides options for further work to enhance renewable energy uptake.
During the Meeting, important progress achieved in 2015 under the “G20 Energy Efficiency Action Plan: Voluntary Collaboration on Energy Efficiency” adopted last year was presented by IPEEC. Ministers welcomed progress under workstreams on transport, buildings, products, finance, industry and electricity generation, and emphasized the importance of taking this work forward.
The Ministerial Communique adopted at the Meeting will be presented to the Leaders in Antalya Summit.