At the conclusion of the G20 energy meeting in Bali on Friday, the top countries in the world pledged to accelerate the switch to cleaner energy, but there was no definitive agreement as officials battled disagreement over Russia’s invasion of Ukraine.
Energy prices have skyrocketed since Moscow launched its military offensive, and many Western countries are feverishly hunting for alternative suppliers in an effort to cut energy dependence on Russia.
The strain on worldwide efforts to prevent climate change has increased as a result of changes in the energy sector.
Host Indonesia presented a plan at the discussions detailing guidelines to hasten a “fair” transition to cleaner energy, and the G20 members supported it.
According to Indonesia’s energy minister, Arifin Tasrif, the non-binding “Bali Compact,” which outlines guidelines for achieving net zero emissions, was approved by all participants.
Although specifics were not made public, the minister stated that the plan aims to improve national energy planning and implementation in order to increase investment and financing while also enhancing energy security and efficiency.
Tasrif said in a Friday online press conference that the G20 energy ministers “sent a strong signal to the market that policymakers are taking action to strengthen the investment-enabling environment.”
However, the officials were unable to agree on a joint communique at the one-day summit because of “differences among countries,” Tasrif stated without going into further detail.
The invasion of Ukraine was condemned by a number of countries, notably Britain and France, who said it had disrupted the energy supply.
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A source familiar with the conference told AFP that Russia’s attendance at the summit prevented a statement from being agreed upon.
According to the source, the “current energy crisis shows the urgency to accelerate the energy transition.”
According to a list seen by AFP, representatives from the United States, Saudi Arabia, Australia, Germany, India, South Africa, and the European Union were also there.
The G20 environment discussions in Bali on Wednesday also ended without a single declaration, highlighting disagreements among member nations over how to address climate change. The energy talks come after those discussions.
(with inputs from agencies)
