Since the Pittsburgh Leaders' Summit in 2009, the IEA has actively supported G20 deliberations on energy by providing inputs to G20 Leaders’ Summits, Finance Ministers, Sherpa meetings, meetings of the G20 Energy Sustainability Working Group (established in 2013) and Energy Ministers Meetings. The IEA contributes to all energy work streams of the G20, including those on energy security, energy data, market transparency, renewable energy, energy access, energy efficiency and the phase-out of fossil fuel subsidies, a core energy objective of the G20 since 2009.
What is the G20?
The G20 is a global forum of major economies (Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, and the United States of America) and the European Union. It was started as a meeting of Finance Ministers’ in 1999 but was later elevated to a Leader’s meeting at the Washington Summit in 2008. The G20 discusses and responds to critical issues facing the global economy, including energy. It has no permanent secretariat, but rather operates with a yearly rotated presidency among its members.
The Energy Profile of the G20
G20 members account for 85% of the global economy, 75% of world trade and two-thirds of the global population. The energy mix in G20 economies varies strongly but most countries rely on a high share of fossil fuels in total energy supply. At the same time, together, G20 economies account for 81% of global renewable power capacity, 82% of global energy-related CO2 emissions and 77% of global energy consumption.