Let me start by thanking the Indian Presidency for hosting us in Goa today.
I also want to thank the IEA and IRENA for the high-quality input informing our work.
The European Union fully supports the Presidency’s energy agenda.
This G20 marks an important milestone on our path towards COP 28.
It is a testing ground to see if the world’s most advanced nations share the urgency to mitigate climate emissions and can build alliances to keep the 1.5° objective within reach.
The EU is determined to work hand in hand with the Presidency to deliver a positive momentum for a just energy transition which involves all actors.
I understand that we have not been able to converge on a final communiqué. We missed an opportunity. But as we meet here in Goa, a Chair Summary should at least send a clear message that the largest majority of us want to move forward in two areas.
The first is energy efficiency. We welcome the Presidency stressing the need to accelerate energy efficiency improvements. In Europe, we are committed to energy efficiency as the first fuel and we have revised our legislation and increased our targets for 2030.
The second area is renewables. Despite the record world levels of deployments in 2022, we are nowhere near what is needed.
In Europe, more than 90% of new power generation is today renewables.
We have set out to further increase our domestic renewables target and we stand ready to invest more in clean projects in developing countries.
The EU has called for global pledges on renewables and energy efficiency to be adopted at COP28. I am delighted to see support from the COP Presidency and the Indian G20 Presidency.
I propose that a Chair Summary highlights a common ambition to triple the global annual deployments of renewables and to double the global rate of energy efficiency improvements this decade (2020-2030) compared to the previous one.
In this way we also work towards phasing down existing fossil capacities. This is the best input we can give to COP 28.
Another topic where we should reflect a common understanding is hydrogen. It featured in all discussions in our CEM meeting.
Here we should set out the need to develop a set of high level principles to enable the global take up of renewable and low carbon hydrogen.
The G20 must endorse a rules-based, transparent, and undistorted global hydrogen markets based on reliable international standards and certification schemes.
Finally, on just transition, we welcome the G20 focus on global best practices as well as efforts to promote universal energy access.
An inclusive, just transition is an urgent task.
A task made more challenging by the market disruptions created by the Russian aggression to Ukraine.
The EU reaffirms its strongest condemnation of Russia‘s attacks on Ukraine and the deliberate destruction of its energy infrastructure.
We will continue to provide Ukraine with the necessary support to sustain its energy system and to support Ukraine’s recovery and reconstruction.
Ending an unjustified war is the first way to support the developing world in a just clean energy transition.