HomeInternational GeopoliticsEU to invest 4 bn euros in renewable energy, hydrogen in developing...

EU to invest 4 bn euros in renewable energy, hydrogen in developing economies in next 5 years: European Commission President

Source : Asian News International (ANI)

EU to invest 4 bn euros in renewable energy, hydrogen in developing economies in next 5 years: European Commission President
European Commission President Ursula von der Leyen (Source: Twitter)

EU to invest 4 bn euros in renewable energy, hydrogen in developing economies in next 5 years: European Commission President

New Delhi [India]: European Commission President Ursula von der Leyen has said the EU will invest at least four billion euros in renewable energy and hydrogen in developing economies through its Global Gateway plan in the next five years.

“Global Gateway is also about sharing technology and re-risking additional private capital. Because if we want to master climate change we also have to attract a lot of private capital,” the European Commission President said while addressing the G20 Summit’s first Session, ‘One Earth’.

Leyen said science tells us that we are about to miss our objective of limiting global warming to 1.5 degrees. “So, it is absolutely critical that we maintain our path of 1.5 degrees. Only what gets measured gets done, we know this principle,” she said.

She further said: “We need to triple renewable energy capacity and double energy efficiency until 2030 if we are to reach our goal of limiting temperature increases to 1.5 degrees. Only what gets measured gets done, we know that principle.”

She then called to anchor a global goal at COP28 for renewable energies that have to be reached by 2030 and energy efficiency by 2030. Global goals will provide a benchmark against which to track progress and a strong signal of predictability to the private sector.

The European Commission President said climate change is a global threat and a contributing factor to food insecurity. “Food security is also a victim of Russia’s aggression in Ukraine. We call on Russia to allow the grain from Ukraine to reach global markets via the Black Sea,” she said.

“We are doing our utmost to facilitate the grain to reach global markets via the land route. But for global prices to stabilize, grain also has to travel by sea. No one should go hungry and the leaders of the G20 have the responsibility and the tools to enable the flow of grain to where it is needed,” she added.

She then said it is a pleasure to welcome the African Union as a new member of the G20. “I just came back from Kenya, at the Africa Climate Summit. There, Africa’s voice resonated across the globe. Especially the voice of its youth, via the Kenya Youth Forum, who confronted us about our responsibility, as leaders,” she said.

Meanwhile, Prime Minister Narendra Modi on Friday extended a welcome to the President of the European Commission on her arrival at the national capital for the G20 Summit.

Responding to a post by the EU President on social media platform X, Prime Minister Modi wrote, “Glad to see you in Delhi for the G20 Summit, @vonderleyen. Grateful for the @EU_commission’s support and commitment. Collectively, we shall address the pressing challenges we face. Looking forward to fruitful deliberations and collaborative actions.”

The EU chief touched down in the national capital on Thursday evening and was received by the Union Minister of State for Commerce and Industry, Anupriya Patel.

India and the EU have a common interest in ensuring security, prosperity and sustainable development in a multi-polar world. Both India and the EU agreed to further build on these convergences and foster new synergies for jointly contributing to a safer, greener, cleaner, more digital, resilient and stable world, in line with the 2030 Agenda for Sustainable Development and the Paris Agreement.

The EU is India’s second-largest trading partner (after the US) and India’s second-largest export market. India is the EU’s 10th largest trading partner, accounting for 2 per cent of EU total trade in goods. Trade in services between the EU and India reached 40 billion euros in 2021.

For the summit, which is being hosted under India’s presidency of the G20, extensive preparations and arrangements have been made not only to showcase the country’s soft power but also its emergence as a prominent global player.

Formed in 1999, the G20 was formed to maintain global financial stability by incorporating middle-income countries.

India assumed the G20 presidency on December 1 last year and about 200 meetings related to G20 were organized in 60 cities across the country. The 18th G20 Summit in New Delhi will be a culmination of all the G20 processes and meetings held throughout the year among ministers, senior officials, and civil societies. (ANI)



Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Aatmanirbhar Bharat


Uttar Pradesh Rises as a Key Defence Manufacturing Hub

Uttar Pradesh is surging ahead in the defence sector, driven by substantial investments and the Make in India initiative. The state aims to establish...

Indian Army is set to get cutting-edge Made-in-India sniper rifles from SSS Defence

Source : CNBC TV18Indian Army is set to get cutting-edge Made-in-India sniper rifles from SSS Defence  The Indian Army is set to bolster its arsenal...

AMCA 5th Generation Stealth Fighter Updates

Most Popular

Recent Comments

Archive Months


France evacuates citizens from Niger after neighbours warn of war

Source : ReutersFrance evacuates citizens from Niger after neighbours warn of war Paris: France began the evacuation of hundreds of French and European citizens from...

Nuclear option should not be resorted to by any side: Rajnath to Russian Defence Minister

Source : Press Trust of India (PTI)In a call with Rajnath Singh, Russia's Defence Minister Sergei Shoigu spoke about the concerns pertaining to possible...

Teasing UK & NATO, Russian warship armed with Zircon Hypersonic Missiles sails through The English Channel

Source : The EurAsian TimesThe Admiral Gorshkov Frigate of the Russian Navy armed with Hypersonic Zircon missile (Yuri SmityukTASS via Getty Images)Days after the...

India lodges strong protest as Biden approves $450-million F-16 package to Pakistan, questions substance of programme

Source : DNA IndiaPAF F-16D block 52 #10801 spotted on final approach into NAS Fort Worth on November 6th, 2009. (Photo by Keith Robinson)India...

Rafales & Sukhois near Chinese border rattles PLAAF; Threatens to strike Indian Air bases before fighters Take-Off

Source : The EurAsian TimesRepresentative ImageChina seems to have been irked by the Hasimara air base under the Eastern Air Command receiving 36 Dassault...

How indigenous LCA Tejas promises a more ‘Indian’ Air Force in the future

The IAF is out to significantly boost operational capabilities with additional TEJASs, new transport planes and revival of the mid-air refuelling jet programThe...

Indus Waters Treaty: India gives ultimatum to Pakistan, issues notice seeking modification of Water Sharing Agreement

Source : Zee NewsRepresentative ImageNew Delhi: India has sent a notice to Pakistan calling for the amendment of the Indus Waters Treaty even as...

Chinese white elephant projects in Sri Lanka create jobs for Chinese people, benefit no Sri Lankan: Expert N. Sathiya Moorthy

Source : Asian News International (ANI)Representative ImageNew Delhi: China has invested in white elephant projects in Sri Lanka that primarily produce jobs for Chinese...

Indian Air Force plans to lease some AWACS as temporary solution until 6 Netra Mk2 comes

Source : Indian Defence Updates (IDU)Representative Image (A Royal Air Force E-3 Sentry over North Yorkshire)After the plan to procure two additional Israeli Phalcon...

‘India’s strategic importance and leadership will only increase’: Canada’s Indo-Pacific strategy

Source : Asian News International (ANI)Representative ImageOttawa : Canada has in its new Indo-Pacific strategy document highlighted plans to increase cooperation with India, including...

‘We are Excited…. Number 1 leader of the World coming to Australia,’ Australian MP Jason Wood on PM Modi visit

Source : Asian News International (ANI)'We are Excited…. Number 1 leader of the World coming to Australia,' Australian MP Jason Wood on PM Modi...

10,000 PLA troops killed, 150 Fighter Jets shot down: US predicts what would happen if China invaded Taiwan

Source : The EurAsian TimesAmphibious armored vehicles attached to a brigade under the PLA Marine Corps head to the designed training waters during a...

UN lists Pak’s Abdul Rehman Makki as global terrorist under UNSC sanctions committee

Source : Asian News International (ANI)Abdul Rehman Makki (Photo Credit: Twitter)New York : The United Nations Security Council (UNSC) on Monday listed Pakistan-based terrorist...

aviation industry: IAF receives first C-295 transport aircraft from Spain: Air Chief Marshal VR Chaudhari – The Economic Times Video

(adsbygoogle = window.adsbygoogle || ).push();IAF chief Air Chief Marshal VR Chaudhari on receiving delivery of the first C-295 transport...

Adblock Detected

Please consider supporting us by disabling your ad blocker

Refresh Page
error: Content is protected !!
%d bloggers like this: