CHENNAI: The second G20 Framework Working Group (FWG) meeting on Saturday stressed the difficult trade-offs countries face as they balance short-term energy security with long-term structural reforms for the clean energy transition.
Ensuring the availability and accessibility of critical minerals for a smoother transition and meeting investment needs to boost economic growth for the transition were also discussed, according to an official statement on Saturday.
Chief Economic Adviser Dr V Anantha Nageswaran and his UK counterpart Clare Lombardelli jointly co-chaired the meeting at Chennai on March 24 and 25. Around 87 delegates from G20 member countries, invitees, and international organizations attended the meeting.
The meeting also focused on the need to manage global inflation and remain vigilant to emerging financial risks. Members also deliberated on increasing food and energy prices in many economies, which is disproportionately affecting vulnerable countries, the statement reads.