G20 nations planning to triple renewable capacity, push for scaling up CCS technology
- September 7, 2023
- Posted by: Quatro Strategies
- Categories: Business & Politics, ESG & Renewable Energy, India
The G20 group of nations is planning to triple renewable capacity by 2030 while also encouraging the use of carbon capture technology to facilitate fossil fuel development. At the G20 summit in India, the group, which includes both major oil and gas producers and energy importers, will reportedly call for greater efforts to deploy technologies that reduce emissions from coal, oil, and natural gas.
This commitment to renewables could boost India’s profile as the host nation of the summit and the UAE’s position, as it is also hosting COP28.
However, the use of carbon capture technology as a way to support fossil fuel development has been met with criticism by some environmental groups. Coal-related emissions in the G20 have risen by 9% per capita since 2015, according to climate change think tank Ember. Despite emissions reductions in recent years, Australia and South Korea emit more than three times the global average in coal-related CO2 emissions. China was third.
Separately, G20 countries spent a record $1.4 trillion since COP26 in 2021 through 2022 on coal, oil, and gas, according to think tank the International Institute for Sustainable Development (IISD). This comes at a time when global efforts are being made to transition to cleaner energy sources and reduce greenhouse gas emissions.
The G20 accounts for 80% of global emissions, and the decision to support carbon capture technology alongside renewable energy expansion underscores the challenges of reaching a consensus on climate action in the group, given the diverse range of interests among its members.
Interested in learning more?
Sign up for Top Insights Today
Top Insights Today delivers the latest insights straight to your inbox.
You will get daily industry insights on
Oil & Gas, Rare Earths & Commodities, Mining & Metals, EVs & Battery Technology, ESG & Renewable Energy, AI & Semiconductors, Aerospace & Defense, Sanctions & Regulation, Business & Politics.
Read more insights
Trump administration makes copper a strategic priority with Arizona mine fast-track
The U.S. government’s decision to grant fast-track permitting status to the long-stalled Resolution Copper project in Arizona marks a significant step in Washington’s increasingly aggressive push to reassert control over strategic mineral supply chains. Owned jointly by global mining giants Rio Tinto Group and BHP Group, the mine has now been designated under “Fast-41”, a permitting framework designed to streamline and accelerate reviews for high-priority infrastructure projects.
Resolution Copper is one of the most important untapped copper deposits in the United States. Located near the town of Superior, Arizona, the mine is projected to eventually meet 25% of U.S. annual copper demand for four decades. It would be a cornerstone in America’s electrification drive, with copper being a critical material for everything from electric vehicle batteries and charging stations to power grids and renewable energy systems.
US trade deficit hits lowest since 2009 as imports slump
The United States posted a strikingly smaller trade deficit in October 2025, a move that, on its face, would mechanically lift measured GDP growth if it persists into the fourth quarter. The overall goods-and-services gap narrowed to $29.4 billion, down from a revised $48.1 billion in September and the smallest shortfall since June 2009, according to the Bureau of Economic Analysis and the Census Bureau.
The magnitude of the swing surprised forecasters, who had expected the deficit to widen rather than collapse, and the release itself arrived late because the underlying report was held up by a 43-day federal government shutdown.
Netherlands takes final step to permanently shut down Groningen gas field
The Dutch Senate has officially approved a law to permanently cease operations at the Groningen gas field, solidifying the government’s commitment to mitigating seismic risks in the region. This decision follows years of gradual production reductions aimed at addressing seismic activity associated…