G20 Commits US$ billions to Energy

G20 countries have committed at least US$267.1 billion to support different energy types through new or amended policies since the beginning of the pandemic, as of the 15th July, according to energypolicytracker.org.

 

These commitments include US$120.56 billion for unconditional fossil fuels, through 129 policies, US$72.22 billion for conditional clean energy, through 47 policies, and US$30.25 billion for conditional fossil fuels, through 16 policies.

 

They also include US$27.66 billion for other energy, through 28 policies, and US$16.41 billion for unconditional clean energy, through 47 policies.

 

G20 countries are said to have committed US$126.91 billion to oil and gas – US$103.34 billion of which is for unconditional oil and gas and US$23.56 billion of which is for conditional oil and gas – and US$10.20 billion to unconditional coal.

 

The Energy Policy Tracker website showcases publicly available information on public money commitments for different energy types. The research is said to follow a “bottom-up” approach, which involves collecting data on individual policies at an individual country level, and then aggregating them.

 

The team behind the tracker is made up of a core group of six organisations – comprising IISD, IGES, OCI, ODI, SEI and Columbia University – as well as several contributing partners.

 

According to the site, a “considerably larger” amount of public money committed to supporting the economy and people of G20 through monetary and fiscal policies in response to the crisis may also benefit different elements of the energy sector.

 

However, these values are not available from official legislation and statements and therefore are not included, the site states.

 

G20 is made up of the following countries and unions:

Argentina

Australia

Brazil

Canada

China

France

Germany

European Union

India

Indonesia

Italy

Japan

Mexico

Russia

Saudi Arabia

South Africa

South Korea

Turkey

United Kingdom

United States

 

As of the 15th July, there have been 13.1 million confirmed cases of Covid-19, with 574,464 deaths, according to the latest information from the World Health Organization (WHO). The worst affected region, as of the 15th July, has been the Americas with 6.8 million confirmed cases and 290,674 deaths, WHO data shows.

 

Source: Rigzone