New Delhi: A consensus on climate issues might be one of the significant outcomes of the G20 summit as leaders on Saturday agreed to work towards limiting global warming to 1.5 degrees Celsius through rapid, deep and sustained reductions in global greenhouse gas (GHG) emissions. The goal is to reduce GHG emissions by 43% (relative to the 2019 levels) by 2030, and achieve ‘net zero‘ by 2050. The leaders also vowed to triple renewable energy capacity globally by 2030.
These targets are important to save the world from the dangerous consequences of climate change, such as extreme weather events, biodiversity loss and desertification.
The G20 New Delhi Declaration backed up the promise by noting the need to mobilise USD 5.8 trillion-5.9 trillion from all sources by 2030 for developing countries to implement their nationally determined contributions (NDCs). To implement clean energy technologies by 2030 and reach net-zero emissions by 2050, USD 4 trillion will be needed per year.
The declaration did not commit to a phase-out of all polluting fossil fuels, including oil and gas. On coal, it merely repeated the text from the last G20 summit about accelerating efforts for phasing down unabated coal power, in line with national circumstances.
Though the declaration recognises that GHG emissions must peak by 2025 to stick to the 1.5 degrees Celsius goal, it does not imply all countries will peak within this timeframe. Rather, countries will peak in line with their different national circumstances. This formulation suits developing countries like India that need more energy to achieve their developmental goals.
Under the ‘Green Development Pact for a Sustainable Future’, the leaders promised to pursue efforts to triple renewable energy capacity globally through existing targets and policies, as well as demonstrate similar ambition with respect to other zero- and low-emission technologies, including abatement and removal technologies, in line with national circumstances by 2030.
This promise matters as G20 countries are collectively responsible for 80% of GHG emissions. Deep cuts at their end could help limit global warming to 1.5 degrees Celsius above the pre-industrial levels by 2100. Already, the world has reached an average warming level of 1.1 degrees C.
The other significant point for India is the inclusion of its brainchild LiFE-lifestyle for sustainable development-in the preamble of the declaration, recognising it as an important tool to address development and climate challenges, and conserve biodiversity, forests and oceans.
The declaration noted that LiFE could contribute to significant emission reduction by 2030. Besides, it introduced an additional element-“Travel for LiFE”-that will support the development of smart destinations that are responsible and sustainable.
This year could also see the first-ever $100-billion contribution to the Green Climate Fund from developed countries-a goal they had committed to meet by 2020. The money will help developing countries implement their NDCs.
