13 Sept 2023
The G20 Leaders' Declaration in New Delhi has underscored the urgency of accelerating the global transition to clean, sustainable, and equitable energy sources. Leaders of the world's largest economies expressed their commitment to fostering transparent and open international markets for hydrogen produced from zero or low-carbon technologies.
Promoting Fair and Transparent Markets
G20 member countries reiterated their support for expediting the production, utilization, and development of global hydrogen markets, emphasizing the need for transparency and resilience. To achieve this, they are dedicated to establishing voluntary and mutually agreed harmonizing standards and inter-operable certification schemes.
This focus on transparency is significant, especially with major economies like the United States offering substantial incentives for green hydrogen production. Ensuring a level playing field for all nations is a shared goal.
"We affirm the ‘G20 High Level Voluntary Principles on Hydrogen’ to build a sustainable and equitable global hydrogen ecosystem that benefits all nations," declared the G20 Leaders' Declaration.
India's Green Hydrogen Initiatives Recognized
The declaration acknowledged India's initiative to establish the Green Hydrogen Innovation Centre under the guidance of the International Solar Alliance (ISA). India has been actively working to boost its domestic green hydrogen economy while aspiring to become a global export hub for this eco-friendly energy source. Earlier this year, the Indian government launched the National Green Hydrogen Mission, introducing incentive schemes for green hydrogen production and electrolyzers. India has also introduced its standard for green hydrogen.
Industry Applauds Commitment to Energy Transition
Stakeholders in the energy and environmental sectors have welcomed the G20 Delhi Leaders Declaration for its emphasis on the energy transition and sustainable practices. Leaders and executives from prominent organizations expressed their support for the declaration's objectives.
Sumant Sinha, Founder, Chairman & CEO of ReNew, applauded India's leadership in advancing the global decarbonization agenda. He highlighted the declaration's commitment to sustainable and inclusive growth, renewable energy advancement, and financial institution reform to fund the energy transition.
Vineet Mittal, founder of Avaada, described the G20 Delhi declaration as a beacon of hope for a brighter, greener, and more inclusive future.
Arunabha Ghosh, CEO of the Council on Energy, Environment, and Water (CEEW), emphasized the critical nature of the focus on resource efficiency and sustainable consumption by G20 members. He highlighted the mainstreaming of sustainable development lifestyles and the significance of the High-level Principles on Lifestyles for Sustainable Development.
In summary, the G20 Leaders' Declaration in New Delhi signifies a collective commitment to fostering equitable global hydrogen markets, promoting green hydrogen initiatives, and accelerating the transition to sustainable and clean energy sources. As nations collaborate to address climate change and build a more sustainable future, hydrogen plays a pivotal role in achieving these shared objectives.