The G20 Secretariat, India and the International Energy Agency (IEA) recently held an event on ‘India’s Role in the Future of Energy,’ focusing on energy security, the transition from fossil fuels to renewables, and fuels of the future. The event brought together diverse perspectives on achieving a sustainable energy landscape, throwing light on a new clean energy economy that is emerging against the backdrop of an energy crisis marked by soaring prices and far-reaching supply disruptions. India is a major driving force in this new world order. The G20 can build a global bridge to a future of sustainable energy and India’s G20 presidency has led to links with the G7 forum to promote a climate agenda that could make a tangible difference.
The International Energy Agency’s recently released World Energy Investment report shows that for every dollar invested in fossil fuels today, $1.70 goes into clean energy. Just five years ago, the ratio was 1:1. The amount of new capital flowing into energy drawn from solar photovoltaic technology is set to surpass total investments in oil production this year for the first time in history.
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