New Delhi: The G20 Leaders’ Declaration released on Saturday stresses on the need for a diversified, sustainable, and responsible supply chain for energy transition including for critical minerals.
The declaration said that the G20 countries support strong international and national enabling environments to foster innovation, voluntary and mutually agreed technology transfer, and access to low-cost financing.
It also recognized the the role of grid interconnections, resilient energy infrastructure and regional/cross-border power systems integration, where applicable in enhancing energy security, fostering economic growth and facilitating universal energy access for all. India has been a supporter of grid interconnections and through the International Solar Alliance (ISA) it has launched the One Sun One World One Grid (OSOWOG) initiative to connect natioal grid of countries across regions.
The focus on energy security gained momentum in the past one year amid the Russia-Ukraine conflict and several countries have been looking to diversifying their supply chains as the renewable energy supply chain and that of related components and technologies have been largely concentrated in China. Amid geopolitical concerns, more so post the Covid-19 pandemic impacting the supply scenario, countries are looking at newer supply sources.