The Group of Twenty have renewed their commitment to tackle energy poverty and improve access for all, following a two-day virtual meeting of G20 Energy Ministers, on 27th and 28th September. In a joint statement the ministers pledged to boost investment in the energy sector which has been hit hard by the COVID-19 pandemic.
As the unprecedented economic, health and social repercussions of the pandemic continue to sweep around the world, the most vulnerable peoples and communities have been disproportionally affected. Energy markets have also become destabilised. Responding to the crisis, Energy ministers pledged to foster international cooperation to ensure that the energy sector continues to make an effective contribution to overcoming COVID-19 and to the post-coronavirus global recovery. In this regard, they emphasised the importance of stimulus packages to revitalise economic activities that include hardest-hit communities.
In the official communique that to encapsulates the outcome of the meeting, the G20 Energy Ministers said:
The Group of Twenty have also renewed their commitment to co-operate on boosting capital expenditure in the energy sector. The recent economic downturn has led state and private companies to reduce their CapEX, but the G20 will redouble efforts to enhance favourable conditions for investment.
An Energy 4 Impact Trustee, Katrina Pielli has supported the work of the G20 Energy Sustainability Working Group. She said: