{"id":91716,"date":"2022-10-01T04:27:00","date_gmt":"2022-09-30T21:27:00","guid":{"rendered":"https:\/\/www.ekuatorial.com\/?p=91716"},"modified":"2022-11-09T15:56:23","modified_gmt":"2022-11-09T08:56:23","slug":"why-is-the-g20-important-for-climate-and-energy-transition","status":"publish","type":"post","link":"https:\/\/www.ekuatorial.com\/en\/2022\/10\/why-is-the-g20-important-for-climate-and-energy-transition\/","title":{"rendered":"Why is the G20 important for climate and energy transition?"},"content":{"rendered":"\n

Indonesia is hosting and presiding the G20 summit this year, the first developing economy to do so. It set three priority issues under the theme “Recover Together, Recover Stronger<\/a>,” — global health infrastructure, digital transformation, and energy transition<\/p>\t\t

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\n\t\t\t\t\t\tThis story also appeared in Betahita<\/a>\t\t\t\t\t<\/figcaption>\n\t\t\t\t<\/figure>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t

Energy transition, in particular, is extremely important as the world is currently dealing with the consequences of the climate crisis. The energy sector, relying primarily on fossil fuel, is the largest contributor to greenhouse gas emissions<\/a>, accounting for 35 percent of global emissions.  Combustion of coal, which emits strong gasses such as carbon dioxide, to the atmosphere, is the main culprit. <\/p>\n\n\n\n

The year-long forum, featuring meetings, events, and discussions, takes place in Indonesian cities, and is attended by thousands of delegates from participating countries. The high-level summit, gathering the group\u2019s heads of state, will take place in Bali in November.<\/p>\n\n\n\n

Why is the G20 important?<\/h3>\n\n\n\n

The G20 forum gathers the world\u2019s 20 largest economies \u2013 19 countries, developed and developing, and the European Union. Their economies account for roughly 80 percent of global economic output<\/a>, nearly 75 percent of global exports, and roughly 60 percent of global population.<\/p>\n\n\n\n

Teuku Faizasyah<\/a>, Director General of Information and Public Diplomacy at the Ministry of Foreign Affairs, stated that Indonesia’s G20 presidency is expected to bring benefit for developing countries in the midst of the Covid-19 pandemic.<\/p>\n\n\n\n

“This is where we actually see Indonesia’s role as being very important, we want the Indonesian presidency to have an impact on other countries, particularly developing countries,” said Faizasyah.<\/p>\n\n\n\n

Meanwhile Coordinating Minister for the Economy  Arlangga Hartarto<\/a>, , said that Indonesia has the opportunity to demonstrate leadership in responding to various international challenges and in bridging the interests of developing and developed countries. <\/p>\n\n\n\n

“The G20 must be able to bridge the gap between developing and developed countries’ interests. Of course, the main priority for the Indonesian government is an inclusive, resilient, and sustainable economic recovery,” said Airlangga. <\/p>\n\n\n\n

G20 member countries are also responsible for 75 percent of global greenhouse gas emissions. <\/p>\n\n\n\n

A 2021 report by Climate Transparency<\/a> said the G20 has important in limiting temperature rise to 1.5\u00b0C by committing to emission reduction targets and implementing policies consistent with the 2015 Paris Agreement that requires the world to cap the global rise in temperature to 1.5 degree Celcius.<\/p>\n\n\n\n

To accomplish this and avoid catastrophic climate impacts, scientists from the Intergovernmental Panel on Climate Change (IPCC) believed the world must cut down emissions by 45 percent by 2030 and achieve net zero by 2050. <\/p>\n\n\n\n

The Paris Agreement’s climate commitments required member countries to submit Nationally Determined Contributions (NDCs). <\/p>\n\n\n\n

Unfortunately, Climate Transparency<\/a>, a global partnership driving climate action in G20 countries said in April 2021, that the combined mitigation impacts of NDCs were insufficient and would result in 2.4\u00b0C warming by the end of the century.<\/p>\n\n\n\n

The findings also highlighted the critical importance of G20 members to strengthen their climate policy and action. In essence, an ambitious 2030 target that was consistent with the net zero target by 2050 was required.<\/p>\n\n\n\n

So far 133 countries, including the European Union have submitted their NDC documents to the United Nations Framework Convention on Climate Change<\/a> (UNFCCC) and according to the Climate Action Tracker (CAT) analysis<\/a>, 23 of them have stronger targets, including the 27 European Union members.<\/p>\n\n\n\n