G20: Discussion on diversification to renewable sources for energy transition to be held
Apr 01, 2023
New Delhi [India], April 1 : As part of the second Energy Transition Working Group meeting of India's G20 Presidency, the Ministry of New and Renewable Energy, Ministry of Mines and Ministry of Power will host an official side event, 'Diversifying Renewables and Critical Minerals Supply Chains to Advance Energy Transition' on Monday in Gujarat's Gandhinagar.
The event, supported by the Asian Development Bank (ADB) and the Council on Energy, Environment and Water (CEEW), will focus on diversifying and securing renewable energy and critical mineral supply chains for energy transitions, including promoting circularity in value chains, an official release said.
Bhupinder Singh Bhalla, Secretary of, the Ministry of New and Renewable Energy, and Vivek Bharadwaj, Secretary, of the Ministry of Mines, will deliver the opening address and set the context for the event.
The event will feature two panel discussions on securing renewable energy supply chains, and strengthening the mineral value chain by increasing production and infusing circularity.
"Global economic development coincides with a shrinking carbon space, intensifying climate risks, and rising geopolitical adversities. For the world to achieve a net-zero future, solar and wind power capacities must grow 17 and 10 times, respectively, between 2021 and 2050," an official release from the Ministry of Mines said on Saturday.
In its G20 year, the principles of India's Mission LiFE (Lifestyle for Environment) can promote circularity in manufacturing and use of these minerals for a transition to renewables.
India has articulated and put across the concerns of developing countries at the Conference of the Parties (COP26) and presented five nectar elements (Panchamrit) of its climate action.
India aims to reach 500 GW non-fossil energy capacity by 2030, target 50 per cent of its energy requirements from renewable energy by 2030, reduction of total projected carbon emissions by one billion tonnes from now till 2030, reduction of the carbon intensity of the economy by 45 per cent by 2030, and finally achieve the target of net zero emissions by 2070.
