Remarks by President von der Leyen at Session III of the G20: Energy Transitions and the Promotion of Sustainable Development
Today we all know that fossil fuels harm both our climate and our individual health.
In addition, fossil fuels have also put a strain on many of our economies.
It has harmed industries and families across the world.
And there are many good reasons to speed up the energy transition.
That’s why in March last year, together with the International Energy Agency, we launched a global movement to push the clean energy transition forward.
As you all know, in Dubai last year, at COP 28, we all committed to tripling renewable energy capacity and to doubling energy efficiency by 2030.
It is the best investment we can make.
Renewable energy is homegrown, creates independence, creates jobs, it is clean and is cheaper than the fossil fuel alternatives.
Meeting these targets that we set in Dubai, would also cut global greenhouse gas emissions by 10 billion tonnes of CO2 by the end of the decade – that is more than the European Union’s total emissions, over three years.
Let me share three areas where we can achieve more together.
First of all, we need tangible projects on every continent, in every economy.
Africa, for instance, is home to 60% of the best solar resources globally.
But at the same time, 600 million people lack electricity.
So it’s time to bridge this gap.
And this is why, together with Cyril Ramaphosa and, in partnership with Global Citizen, we launched the campaign to scale up renewables for Africa.
We will rally throughout the year of South Africa’s G20 Presidency and Brazil’s COP30 Presidency for investment in renewables in Africa.
Second, we need to work on three key enablers:
We need energy grids.
According to the IEA, we need 25 million kilometres of new and improved grid lines to reach the global targets.
We need stable, ethical supply of minerals.
We all know that the global demand for minerals like lithium, cobalt, and rare earths is set to triple by 2030.
Therefore, mining and processing these resources should be sustainable and it should benefit local communities.
The added value should stay with them.
So that production countries and their people fully benefit from the riches in their land.
This is what the UN Panel on Critical Energy Transition Minerals, co-chaired by South-Africa and the European Union aimed to achieve.
This work should continue.
And third we need investment.
Europe is investing.
In the next five years alone, we will invest at least €4 billion in renewable energy and hydrogen in developing economies, as part of our Global Gateway initiative.
But we also know that public funds cannot do the heavy lifting alone.
Private investment must scale up to match the urgency of this transition.
So finally, to reach our global targets we need a much closer cooperation.
We have to create a space for a continuous dialogue, to ensure the implementation of these goals.
So bringing together governments, international organisations and financial institutions.
That’s why I invite you, in cooperation with the United Kingdom, to join a new Global Energy Transition Forum.
The UK will focus more on finance, and we will more focus on implementation.
This forum will meet regularly to keep momentum and ensure we stay on track.
This should lead to real progress by COP30, under your leadership, President Lula.