The member countries of the G20 are currently intensely discussing the basic principles of the energy transition. These principles are access, technology, and funding to accelerate the energy transition and achieve global goals, both Sustainable Development Goal 7 (SDG7) and the achievement of climate change control targets.
Members discussed at the 3rd G20 energy transition forum, The 3rd Energy Transitions Working Group (ETWG), in Nusa Dua Bali.
The results of this discussion will be used as a basis for consideration at the Ministerial level meeting at the Energy Transitions Ministerial Meeting (ETMM), Friday, September 2, 2022.
“All G20 countries agree on the three pillars of it. This is certainly a positive signal to the global community that the G20 has ambitions and commitments as part of the solution to global problems,” said Chair of ETWG, Yudo Dwinanda Priaadi during an ETWG-III press conference in Grand Hyatt Hotel, Bali, Wednesday (30/8).
As for the solution to global problems, Yudo intended to support the global economic recovery from the pandemic and accelerate the progress of the transition towards a cleaner energy system in a just manner.
Then encourage the achievement of access to modern energy that is affordable, reliable, and sustainable as well as efforts to reduce global emissions and increase energy security to mitigate various risks that disrupt supply reliability and energy market instability.
Furthermore, the G20 energy transition conference this time also succeeded in formulating the basic principles for accelerating the energy transition called Bali COMPACT.
“Bali COMPACT is the basic principle agreed by the G20 countries in accelerating the energy transition,” said Yudo.
The basic principle of accelerating the transition produced in Bali will be a solid foundation and reference for the G20 countries in accelerating the transition carried out. This principle is then translated into the Bali Energy Transitions Road map within the framework of the three pillars of the transition with support from international organizations that are knowledge partners of ETWG.
This roadmap will serve as a framework for action in the process of accelerating the transition initiated by Indonesia and is expected to be continued and enriched by the next G20 Presidency, which is sequentially held by 3 (three) developing countries, namely India, Brazil, and South Africa.
Yudo said that the acceleration of green energy in developing countries should not interfere with economic growth.
“The energy transition is carried out fairly, taking into account the affordability of prices, inclusiveness of types of energy and technology, and ensuring that it provides benefits for all affected community groups,” said Yudo.
“Therefore, at this time we are drawing up a joint agreement while still considering the situation and conditions of each country, how collaboration in the G20 can occur synergistically,” he added.
