G20 Ministerial Meeting: India’s Bold Step – Selling Green Hydrogen with Carbon Credit
G20 Ministerial Meeting: India’s Bold Step – Selling Green Hydrogen with Carbon Credit
India’s plan to strike bilateral deals to sell green hydrogen at the G20 ministerial meeting in Goa reflects the country’s commitment to promoting sustainable energy and reducing carbon emissions. By incorporating carbon credits into these deals, India aims to make green hydrogen more attractive to potential buyers.
The inclusion of carbon credits in the deals offers an additional incentive for buyers to invest in green hydrogen. Carbon credits represent a way to offset carbon emissions by investing in projects that reduce greenhouse gas emissions. By offering carbon credits along with green hydrogen, India can provide an added environmental benefit to buyers, making the product more appealing.
The power ministry official’s statement indicates that India is aware of the need to make green hydrogen cost-competitive and appealing to buyers. By offering carbon credits, India hopes to address the affordability factor and provide an extra incentive for buyers to choose green hydrogen over conventional alternatives.
The official also mentioned the possibility of signing Memorandums of Understanding (MoUs) during the G20 ministerial meeting. These agreements could serve as a framework for future collaboration and cooperation in the green hydrogen sector, further promoting the development and adoption of sustainable energy solutions.
India’s G20 energy transition meeting in Goa will provide a platform for bilateral meetings with eight countries, namely Japan, South Korea, Singapore, Australia, the USA, France, Germany, and the European Union (EU). These meetings will serve as opportunities for discussions and collaborations on energy transition and sustainable development.
The event, scheduled for four days from July 19 to July 20, will include the fourth Energy Transitions Working Group Meeting under India’s G20 Presidency. This meeting will focus on addressing the challenges and opportunities associated with transitioning to clean and sustainable energy sources.
By engaging in bilateral meetings with key countries and stakeholders, India aims to strengthen international cooperation on energy transition initiatives. These meetings provide an avenue for sharing experiences, best practices, and technologies to accelerate the global shift towards cleaner and more sustainable energy systems.
The power secretary’s briefing highlights India’s commitment to leading discussions on energy transitions and its active role in the current G20 Presidency. Through these bilateral engagements, India seeks to foster collaboration and partnerships that will contribute to the global energy transition agenda.
In addition to the G20 energy transition meeting, the G20 Energy Ministerial meeting is scheduled to take place on July 22. The meeting will be chaired by RK Singh, the Minister for Power and New and Renewable Energy. This ministerial meeting will provide an important platform for discussions among energy ministers from G20 member countries.
During the G20 events in Goa, there will also be the 14th Clean Energy Ministerial (CEM) and 8th Mission Innovation (MI) meetings. These parallel events will bring together ministers and high-level officials from various countries to discuss clean energy technologies, innovation, and collaboration in the field of clean energy.
Alongside these meetings, Power Minister RK Singh will hold bilateral meetings with counterparts from eight countries. The primary focus of these meetings will be to promote the export of green hydrogen from India. Green hydrogen, produced using renewable energy sources, has gained significant attention as a clean and sustainable fuel that can contribute to decarbonization efforts worldwide.
During the G20 ministerial meeting, the discussions will focus on establishing a framework for common standards, regulations, certifications, and the sharing of carbon credits. The aim is to facilitate B2B (business-to-business) interactions and promote cooperation in the field of energy transitions. The discussions will involve energy ministers from G20 member countries, as well as ministers from nine invited countries and senior officials from 14 international organizations.
The event is expected to attract over 1,000 participants, including policymakers, delegates, business leaders, and researchers. The attendees will engage in various meetings and events throughout the four-day program.
As part of its G20 Presidency, India has identified six priority areas for the energy transitions working group. These areas include addressing technology gaps in energy transitions, facilitating low-cost financing, ensuring energy security and diversified supply chains, promoting energy efficiency and low-carbon industrial transitions, exploring fuels for the future, and striving for universal access to clean energy and inclusive energy transition pathways.
Following the G20 ministerial meeting, there will be the launch of the Green Hydrogen Innovation Centre by Power Minister RK Singh and the Global Biofuel Alliance by Petroleum and Natural Gas Minister Hardeep Singh Puri. These initiatives highlight India’s commitment to innovation and collaboration in the fields of green hydrogen and biofuels.
Overall, the G20 events in Goa provide an opportunity for meaningful discussions, knowledge-sharing, and the establishment of partnerships to drive global energy transitions and address key challenges in the energy sector.
