G20 Summit 2024: Deadline to phase out fossil fuel appears elusive

India opposes curbs on hydrocarbon investments, calls for expanding decarbonisation efforts, renewables

As the G20 summit in Rio de Janeiro, Brazil, nears its conclusion, hopes of a definitive timeline to phase out fossil fuels appear slim.

 

Despite growing international momentum to strengthen decarbonisation efforts, India, while reiterating its commitment to achieve a net-zero emissions target by 2070, has held firm against setting a hard deadline for ending crude oil usage or halting hydrocarbon exploration.

 

While some nations have pushed for bolder climate action, sources indicate that a consensus on fossil fuel reduction remains elusive, with geopolitical and economic factors playing a central role.

 

“Given the state of talks, it appears unlikely that