State secretary Baake at G20 energy minister meeting in Beijing

The G20 group of countries, whose energy ministers are going to meet in Beijing this week, are responsible for around 75 per cent of global energy consumption and energy-related greenhouse gas emissions. State secretary Rainer Baake, who is going to represent Germany at the meeting, said: “195 countries agreed at the climate conference in Paris in 2015 to decarbonise the global economy in the course of the century. The G20 countries should now lead the way in setting new investment standards. Given the long investment cycles in the energy sector, we need to prevent foreseeable stranded investments. We have to substitute fossil energies like oil, coal and gas through investments into energy efficiency technologies and renewables.”

Read the ministry press release in German here.