Largest International Climate Platform of foundations and philanthropic organisations presents new report on renewable energy potential of the G20
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With wind and solar as the two primary sources of renewable energy, the Foundations Platform F20 today calls upon the G20 Heads of State to agree upon an evidence and science-based renewable power generation target of 70% by 2030. Given the culminating climate and energy emergencies, existing energy policies are ‘far from sufficient’ to reach agreed climate targets and to further upscale energy efficiency and the generation of renewable energies.
Press release Global Coalition of 80 foundations calls for a G20 power target of 70% by 2030
Largest International Climate Platform of foundations and philanthropic organisations presents new report on renewable energy potential of the G20
Hamburg, August 24, 2022: With wind and solar as the two primary sources of renewable energy, the Foundations Platform F20 today calls upon the G20 Heads of State to agree upon an evidence and science-based renewable power generation target of 70% by 2030. Given the culminating climate and energy emergencies, existing energy policies are ‘far from sufficient’ to reach agreed climate targets and to further upscale energy efficiency and the generation of renewable energies.
Accounting for about 80% of global energy-related CO2 emissions, the G20 countries hold the keys in the fight against climate change and for decarbonising global economies. With all G20 countries having ratified the Paris Agreement, the member countries have exalted the goal of climate action through their signature. Thus far, governments fall short of phasing out carbon emissions in their national policies and increase renewable energy to remain within the carbon budget left to limit global warming to 1.5 °C. To give the mitigation plans of the G20 any credibility, drastic changes in existing energy policies are required to support energy efficiency and ensure the uptake of renewable energies.
The ”Limiting Global Warming to 1.5 °C: Renewable Target Mapping for the G20” report published by the Foundations Platform F20 and the University of Technology Sydney, and supported by the organisation One Earth, today derives evidence-based renewable energy targets and policy recommendations for the G20 by 2030.
The report confirms that the renewable energy potential is not the barrier for 100% renewables target. In fact, the combined solar and wind potential of the G20 is sufficient to generate over 50 times of the current global electricity demand. Global leaders need to commit a transition into clean energy by mobilising financing and innovation to quickly close the energy gap in order to pursue the net zero emissions target.
“Against the odds, keeping global temperatures increase below the dangerous benchmark of 1.5 degrees is still a choice. The G20 should choose to lead the transition to a net-zero world and stop burning fossil fuels for thermal and electricity-based energy services and replace it by using renewables. This report proves it is technically as well as economically possible. Non-action on renewable energy is also an action that deteriorates the climate crisis” , says F20 Secretary General Stefan Schurig.
Based on the scientific evidence of the report’s target projection, the Foundations Platform F20 advocates the G20 to set a renewable electricity target of 70% by 2030.
The development of the renewables energy shares in primary and total energy consumption has been significantly slow due to insufficient progress in increasing the shares of renewable energy in the heating and transport sector. Therefore, G20 leaders are urged to set a renewable final energy target of 60% by 2030 as well as a renewable heating target of 55%-60% for 2030 to ensure the transition commitment. On that account, the report comes up with G20 policy recommendations to be addressed in the global leaders’ forum and amplified in future.
All G20 renewable energy targets must be complemented by binding energy efficiency targets and pave the way to 100% renewable energy and zero emission targets with variations depending on local factors such as Nationally Determined Contributions (NDCs).
Likewise, the agenda of net zero emissions will only succeed if the development, storage and supply of affordable, reliable energy sources is provided. Here, the G20 need to assist in making the energy transition a reality that is just and inclusive in scope. “Next to legally binding, national renewable targets, the G20 should foster Just Energy Transition Partnerships to accelerate a just energy transition from fossil fuel lead economies to renewable energy”, highlights F20 Chair Klaus Milke. "The report is just in time in the face of an unfolding geopolitical crisis that reveals the dependencies on gas, oil and coal which we need to overcome."
With this year’s G20 Summit hosted by Indonesia and in times of obvious urgency for more sustainable energy and independence from fossils, the Foundations Platform F20 is eager to seize the political momentum and calls upon global leaders to live up to their responsibility and accelerate the just energy transition which is key for the implementation of the Sustainable Development Goals (SDGs) and the Paris Climate Agreement.
Read the full report here.
The Foundations Platform F20 is a network of nearly 80 foundations from more than 20 countries that work with the G20 countries for the implementation of the UN sustainability goals and compliance with the Paris Climate Agreement. The platform was launched in Hamburg in 2017 on the occasion of the G20 summit and has now become an influential player in the G20 process.
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