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Climate Politics

G-20 Countries Reach Bali Compact to Ramp Up Renewable Energy

Energy ministers of the world’s largest economies agreed on the Bali Compact to quicken the energy transition, while geopolitical rifts prevented them from reaching a communique.

The agreement, named after the island on which the meeting was held, set out voluntary principles for how the countries would build up renewable energy, said Arifin Tasrif, energy minister for host country Indonesia after the meeting of Group of 20 officials. The compact includes steps to improve renewable energy infrastructure, financing, investment and technology transfer.