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B20 Italy 2021

The B20 acts as voice of the business community of the G20 countries, promoting dialogue among policymakers, civil society and business at the highest level. Its mission is to provide the G20 Leaders with expertise and concrete policy recommendations coming from about 1,000 large businesses from more than twenty countries.

Deloitte Italy played the role of Knowledge Partner of the Energy & Resource Efficiency Task Force supporting the Italian B20 Presidency (Confindustria) and the Task Force Presidency (ENEL) in the drafting of a policy paper providing specific recommendations and policy actions to the G20 Leaders in view of the 2021 Summit, in order to facilitate and accelerate the energy transition towards a green economy.

The policy paper was presented by ENEL CEO Francesco Starace at the B20 summit held in Rome on October 7-8, 2021.

The policy paper contains 4 recommendations

Accelerate the transition of the energy system towards a sustainable, carbon neutral and efficient energy mix in order to achieve the climate neutrality goal in line with the Paris Agreement and the targets set in the determined national contributions

Policy Action 1.1: Shift energy end-uses towards clean energy - G20 members should promote and accelerate the shift in the energy end-uses, driving the substitution of fossil fuels with Decarbonized Electricity and other carbon neutral energy sources and carriers based on a cost effectiveness approach that will include indirect or direct costs of externalities as well.

Policy Action 1.2: Increase efficiency - G20 countries should sustain the increase of energy and resources use efficiency, substantially reducing energy intensity of domestic GDP while supporting its growth, with dedicated actions towards industrial and consumers sectors, building, transport and cities.

Policy Action 1.3: Develop infrastructures - The G20 should promote the development and modernization of infrastructures to sustain the transition towards a carbon neutral energy mix.

Realize effective policy pathways to promote sustainable growth and ensure the energy transition

Policy Action 2.1: Leverage sustainable finance - The G20 should encourage and drive the adoption of common ESG frameworks and disclosures to foster the financial sector’s role in supporting business transition towards long-term sustainable economic activities and value creation for stakeholders.

Policy Action 2.2: Drive carbon pricing - The G20 should drive effective and robust carbon pricing taking into account the local markets peculiarities and promote strategic dialogue to lay the foundation for global mechanisms to valorize environmental externalities, while quickly phasing out direct or indirect inefficient energy subsidies

Ensure the resilience and inclusiveness of global resource supplies.

Policy Action 3.1: Foster supply chain resiliency - G20 members should improve the resilience of global infrastructures to cope with adverse climate events, cybercrime, and other disruptive events.

 

Policy Action 3.2: Commit to a just transition - The G20 should commit to a just and inclusive transition across countries, vulnerable communities and economy sectors.

Policy Action 3.3: Guarantee resources access and security - The G20 should commit to grant affordable and secure access to clean energy and water to all communities.

Commit to preserving the balance of the natural ecosystem by promoting more sustainable use of natural resources.

Policy Action 4.1: Exploit circularity practices to reduce the environmental impact of economies - The G20 should promote the diffusion of circular economy practices to use global resources more sustainably, increasing international collaboration.

Policy Action 4.2: Enhance sustainable use of marine and terrestrial resources - G20 members should commit to the preservation and restoration of the natural ecosystems, safeguarding life on land and below water.

Commit to preserving the balance of the natural ecosystem by promoting more sustainable use of natural resources.

Policy Action 4.1: Exploit circularity practices to reduce the environmental impact of economies - The G20 should promote the diffusion of circular economy practices to use global resources more sustainably, increasing international collaboration.

Policy Action 4.2: Enhance sustainable use of marine and terrestrial resources - G20 members should commit to the preservation and restoration of the natural ecosystems, safeguarding life on land and below water.