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Energy transition and energy security is a global concern

January 23, 2023 2:02 pm

Energy transition and energy security is a global concern

India intends to use the G20 Presidency to amplify the voice of the Global South, as the world is facing an unprecedented crisis of the “3 Fs”: food, fuel, and fertilizer, with a disproportionate impact on the Global South.

Energy Security and Development: A Roadmap to Prosperity was the theme of the Energy Ministers’ session of the “Voice of Global South Summit 2023,” which was addressed by Hardeep S. Puri, Minister of Petroleum and Natural Gas, Housing, and Urban Affairs.

The session functioned as a forum to explore suggestions from the developing world for ensuring affordable, practical, and sustainable energy security.

The summit was officially launched by the honorable prime minister on January 12, 2023, as a significant gathering of countries to discuss political, economic, social, environmental, cultural, and technical challenges.

The meeting included participation from the Deputy Prime Minister of Iraq, Energy and Petroleum Ministers from Algeria, Bahrain, Belarus, Equatorial Guinea, Libya, Namibia, Somalia, Syria, Vanuatu, Venezuela, and the Deputy Minister of Azerbaijan.

The G20 agenda for India is comprehensive, ambitious, action-focused, and decisive. India will make an effort to use its G20 presidency to highlight shared concerns about energy security, energy justice, and sustainable energy transitions so that all developing nations can access affordable, clean energy.

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All the energy ministers appreciated India’s efforts to raise the concerns of the global south and echoed the fact that the world requires more sustainable energy models constituting the entire energy ecosystem to continue the momentum of economic development.

Concerns were also expressed about the unprecedented “3 F” crisis—food, fuel, and fertilizer—and a list of measures taken by India to protect itself from the extreme price volatility was presented. These measures include supply diversification, an increase in alternative energy sources like biofuels, ethanol, and CBG, an increase in E&P footprint with a focus on domestic production, and meeting energy targets with EVs and hydrogen.

In order to ensure energy security, transition, and shared development goals, India expressed its willingness to support its partners in the global south by exchanging knowledge, providing best practises, and offering cutting-edge technology in the fields of biofuels, hydrogen, and solar, including patented technology for indoor solar cooking systems.

The organisation sought support from partners in the Global South to establish the “Global Biofuel Alliance” under the auspices of the G20 and join the International Solar Alliance in order to strengthen international cooperation in the field of renewable energy. It also highlighted the associated benefits of the One Sun, One World, One Grid (OSOWOG) initiative.

The goal of the Voice of Global South Summit is to achieve “Unity of Voice, Unity of Purpose,” which is consistent with the vision of the Prime Minister to create a constructive G20 agenda by consulting G20 nations and members of the global south.

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