B20 continues to push for policies to curb climate change, use clean energy, and reduce carbon emissionsJakarta (ANTARA) - The Business 20 (B20) Energy, Sustainability, and Climate Task Force (ESC) has invited global companies to partake in the process of creating policies that will continue to be discussed at the Indonesian G20 Presidency.
During a B20 meeting held on Tuesday (March 8, 2022), a total of three policy recommendations and 14 action recommendations were talked through, and to this end, feedback will be collected from all co-chairs.
"B20 continues to push for policies to curb climate change, use clean energy, and reduce carbon emissions," B20's ESC Task Force Policy Manager Oki Muraza stated here on Thursday.
The three policy recommendations from the B20 meeting are aimed at intensifying global cooperation in accelerating the transition to sustainable energy by reducing the carbon intensity through various means.
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The recommendations also focus on enhancing international cooperation to ensure a fair, regulated, and affordable sustainable energy transition across developed and developing countries.
Furthermore, they aim to intensify global cooperation in improving consumer-level energy security by improving access to consume clean and modern energy.
"These policies (result from) what has been developed. We determined the necessary set of actions in enabling B20 and G20 countries to implement our policy recommendations," Muraza remarked.
In addition, Muraza noted that the recommendations can be used as inputs for policies that align with one another.
"We believe the current recommendations represent our intention to suggest relevant policies in other fields that also focus on the issues of energy sustainability and climate change," he explained.
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Meanwhile, the 14 action recommendations comprise increasing the rate of energy efficiency improvements across the economy, reducing carbon emissions generated from coal-fired power plants step-by-step, developing alternative fuels and decarbonized gas-based plants, and accelerating the development of new renewable energy plants.
Some business-related actions include supporting the establishment of a global energy transition financing platform to distribute financing to developing countries, supporting the development of a globally recognized taxonomy for sustainable project assessment and reporting standards, and accelerating the spread of decentralized energy solutions.
Furthermore, the other actions encompass ensuring the participation of MSMEs in energy transition activities through financing and capacity expansion, supporting climate technology innovation by supporting start-ups, research universities with technology, funding, development of skills, workforce, and knowledge sharing, human resources' readiness, as well as efficient adoption of technologies.
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Translator: Sugiharto P, Kenzu T
Editor: Fardah Assegaf
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