G -20 When the leaders of UN member states meet on the 9th and 10th of this month , their main concern will be to accelerate the energy transition to combat climate change. In addition to the immediate threat posed by climate change, carbon dioxide The urgent need to accelerate the transition from fossil fuels to non-fossil fuels to curb emissions and to limit the increase in global temperature to 1.5 degrees above pre-industrial levels is unanimously accepted.
India has one of the lowest per capita emissions in the world. Our per capita emissions are 2.40 TCO 2 e ( tonnes of carbon dioxide equivalent) , while the global average is 6.3 TCO 2 e. Our contribution to carbon dioxide load is only 4 percent whereas we account for 17 percent of the world’s population. We are the only major economy whose energy transition activities are commensurate with a temperature increase of less than 2 degrees Celsius.
At COP 21 Paris , we committed to 40 Pledged to achieve 100 percent non-fossil electricity generation capacity , We achieved this target nine years ago in 2021 itself. Our non-fossil production capacity 187 gigawatt is and 103 gigawatt is under construction. At COP 26 in Glasgow , we committed to 50 by 2030 Committed to reach 100% non-fossil electricity generation.
We have committed to reduce emissions intensity by 33% by 2030 at COP 21 . It was resolved to bring down the percentage and this target was achieved in 2019 . At COP 26 we committed to reducing emissions intensity by 45 % by 2030 . A new commitment has been expressed to bring down the percentage .
We are at the forefront of taking steps related to energy efficiency. Through our industry-focused Performance , Achievement and Trade (PAT) program We have reduced carbon dioxide emissions by 106 million tonnes annually. Our program related to star labeling on appliances has reduced carbon emissions by 57 million tonnes per year , while our LED program has reduced carbon emissions by 106 million tonnes per year.
Access to Energy SDG- 7 is most important. Our unprecedented expansion efforts have provided energy to thousands of villages and 26 million homes within 18 months. Over the last nine years , we have increased our power generation capacity by 190 GW and installed 1,97,000 circuit kilometers of transmission lines, creating the world’s largest integrated grid. We have achieved a great achievement.
The world faces many challenges regarding the energy transition. Storage is extremely important to obtain renewable energy around the clock. Battery storage manufacturing capacity in the world today is only 1163 GWh Is. The cost of storage is currently very high. we 1000 MWH has come up with a bid for storage , one of the largest in the world , and has taken steps to set up battery manufacturing capacity.
Nuclear power provides consistent , clean electricity generation. However , most developing countries, except us, lack significant nuclear capabilities. Small modular reactors could be a solution in this direction , but it is still in the development stage.
Another solution is carbon capture , utilization and storage (CCUS) but this is also in the early stages. The question of acquisition remains, as does the question of cost.
Another challenge is to diversify supply chains. Currently , a significant portion of solar cell and module manufacturing capacity is concentrated in a single country. We instituted a Production Linked Incentive Scheme (PLI) to encourage large scale manufacturing and are on track to achieve 100 GW manufacturing capacity by 2026 . Similarly , the majority of lithium-ion battery manufacturing capacity for storage is concentrated in a single country. Fortunately , we have identified lithium reserves within our borders and won a successful PLI bid for lithium battery manufacturing.
The above issues underline the constraints in the energy transition , which were addressed during the G- 20 Energy Ministers’ Meeting in Goa under my chairmanship . It was a significant achievement as more issues were agreed upon than in any previous G- 20 meeting. We recognize the paramount importance of energy access as we approach the energy transition. We recognize that the energy transition is not complete until 773 million people globally lack access to energy .
We have collectively recognized the importance of advancing energy security , access and affordability alongside energy transition efforts . We also agreed on the need to address climate change through the full implementation of the Paris Agreement and its temperature targets, emphasizing equality and differentiated responsibilities based on natural conditions.
Ministers committed to develop a roadmap to double the global rate of energy efficiency improvement and adopted the “Voluntary Action Plan to Double the Global Rate of Energy Efficiency Improvement by 2030 ” prepared under the Chairmanship of India .
In addition , we stressed the need for reliable and diversified supply chains for renewable energy equipment and critical minerals. Recognized the importance of hydrogen produced from zero and low emission technologies as a fuel for the future. The Ministers agreed on the need to harmonize standards for hydrogen and ammonia produced from zero and low emission technologies and advocated fair and open trade in it. The Ministers adopted the ‘ G -20 High-Level Voluntary Principles on Hydrogen ‘ launched under the Chairmanship of India.
Affordability and equitable access to emerging energy transition technologies are recognized as essential for developing economies , and therefore creating regional multilateral and public-private networks for technology sharing is essential.
Access to low-cost financing was recognized as critical to the energy transition for developing economies. The Ministers took note of the report on “Low-Cost Financing for the Energy Transition” prepared under India’s Chairmanship in this regard.
The meeting of the Energy Ministers was highly successful. India was unanimously praised for the excellent organization of the meeting. There were two important conclusions for us – India has emerged as a leader in the energy transition and a voice of the Global South.