Latest news with #BRICSEnergyMinisters'Meeting
See - Sada Elbalad
23-05-2025
- Business
- See - Sada Elbalad
Egypt Affirms Commitment to Energy Transition at BRICS Energy Ministers' Meeting
Taarek Refaat Egypt participated in the BRICS Energy Ministers' Meeting, held in Brasilia, Brazil, as part of its membership in the bloc and in line with the Ministry of Petroleum's strategy to enhance energy cooperation. Egypt was represented at the meeting by Alaa al Batal, First Undersecretary and Supervisor for Health, Occupational Safety and Environment (HSE), Energy Efficiency, and Climate Affairs. He praised the importance of the meeting and the member states' commitment to achieving sustainable development and global climate goals. Al Batal emphasized that this year witnessed the development of a roadmap for cooperation until 2030, achieving a balance between reliance on fossil fuels and the transition to sustainable energy systems. He also launched a dialogue between BRICS and the New Development Bank (NDB) to encourage investments in the energy transition and ensure energy access. He pointed out that the Egyptian Ministry of Petroleum has established six axes to guide its efforts in achieving sustainable transformation. The ministry aims to increase the percentage of electricity generated from renewable sources to 42% by 2030, as part of the updated energy strategy until 2040, while accelerating carbon reduction and diversifying sources in line with Egypt Vision 2030. He highlighted Egypt's expansion in sustainable fuel projects, such as the bioethanol project and Sustainable Aviation Fuel (SAF), in addition to its efforts to produce low-carbon hydrogen, having launched a national strategy and approved an incentive law, along with the Damietta project to produce green ammonia in partnership with (ECHEM) and (MOPCO). read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies
Time of India
21-05-2025
- Business
- Time of India
Fossil fuels key in global energy mix: Power minister Manohar Lal
Power minister Manohar Lal underscored the key role of fossil fuels in the global energy mix , especially for developing countries, at BRICS Energy Ministers' Meeting while urging for cooperation to promote their cleaner and efficient use through technologies such as coal gasification, carbon capture and storage, and green chemical innovations. He also said India was committed to building a sustainable and inclusive energy future at the meeting hosted in Brasilia on May 19 under Brazil's presidency, according to a statement on May 20. Lal highlighted energy security as one of the most pressing current challenges and stressed on the critical role of energy security, access, and affordability in advancing global development goals. Lal extended an invitation to the BRICS nations to participate in the next BRICS Energy Gathering, scheduled for 2026 in India. In the Energy Ministerial Communique, the BRICS energy ministers reaffirmed their commitment to strengthening energy security. While acknowledging the continued role of fossil fuels-particularly in developing countries-they stressed the importance of reducing greenhouse gas emissions.
Time of India
20-05-2025
- Business
- Time of India
Fossil fuels key in global energy mix: Power minister Manohar Lal
Power minister Manohar Lal underscored the key role of fossil fuels in the global energy mix , especially for developing countries, at BRICS Energy Ministers' Meeting while urging for cooperation to promote their cleaner and efficient use through technologies such as coal gasification, carbon capture and storage, and green chemical innovations. He also said India was committed to building a sustainable and inclusive energy future at the meeting hosted in Brasilia on May 19 under Brazil's presidency, according to a statement on May 20. Lal highlighted energy security as one of the most pressing current challenges and stressed on the critical role of energy security, access, and affordability in advancing global development goals. Lal extended an invitation to the BRICS nations to participate in the next BRICS Energy Gathering, scheduled for 2026 in India. In the Energy Ministerial Communique, the BRICS energy ministers reaffirmed their commitment to strengthening energy security. While acknowledging the continued role of fossil fuels-particularly in developing countries-they stressed the importance of reducing greenhouse gas emissions.
India Gazette
20-05-2025
- Business
- India Gazette
India leads call for inclusive energy governance at BRICS Energy Ministers' meet in Brazil
New Delhi [India], May 20 (ANI): Union Minister Manohar Lal, who led the Indian Delegation for the BRICS Energy Ministers' Meeting hosted in Brasilia this week, highlighted energy security as one of the most pressing current challenges and emphasized the need to strengthen BRICS cooperation to ensure economic stability and sustainability, as well as to promote equitable access to energy resources globally. The Union Minister for Power and Housing and Urban Affairs reaffirmed India's unwavering commitment to building a sustainable and inclusive energy future and lauded Brazil's leadership under the theme, 'Strengthening Global South Cooperation for More Inclusive and Sustainable Governance.' He further emphasised the critical role of energy security, access, and affordability in advancing global development goals. Minister Manohar Lal showcased India's rapid progress in clean energy highlighting some of the key achievements, including a 90 per cent increase in electricity capacity over the past decade, reaching 475 GW in 2025 and targeting 900 GW by 2032; becoming the world's third-largest producer of solar and wind energy; marching fast towards achieving Nationally Determined Contributions (NDCs); achieving a 20 per cent ethanol blending milestone, advancing biofuel adoption and emissions reduction; investing in smart grids, advanced metering infrastructure, and an expanded transmission network, including the Green Energy Corridor; setting ambitious goals for green hydrogen and nuclear energy, including a 100 GW nuclear capacity target by 2047. He also emphasised the role of the Global Biofuels Alliance in advancing cooperation in the biofuels sector and underscored India's commitment to energy efficiency through innovative programs such as the Energy Conservation Sustainable Buildings Code, rooftop solar initiatives, and efficient appliance standards. He underscored the vital role of fossil fuels in the global energy mix--especially for developing countries--and urged greater cooperation to promote their cleaner and efficient use through technologies such as coal gasification, carbon capture and storage, and green chemical innovations. In conclusion, Minister Manohar Lal extended an invitation to the BRICS nations to participate in the next BRICS Energy Gathering, scheduled for 2026 in India, reaffirming the country's commitment to leading the energy agenda for the Global South. During the meeting in Brasilia, the BRICS Energy Ministers reaffirmed their commitment to strengthening energy security and advancing UN Sustainable Development Goal 7 (SDG 7), focusing on universal electricity access, clean cooking, and tackling energy poverty. They emphasized the need for just, inclusive, and balanced energy transitions in response to climate change. They reaffirmed the goal to double energy efficiency by 2030 and emphasized enhanced cooperation and knowledge sharing among BRICS nations. (ANI)
Time of India
20-05-2025
- Business
- Time of India
India, other BRICS nations call for increased concessional financing for low-carbon energy transition
India along with BRICS countries has called for increased concessional and low-cost financing from developed nations to help emerging nations transition towards low-carbon energy usage. Union Minister for Power Manohar Lal is leading a delegation to attend the BRICS Energy Ministers' Meeting which began on May 19 in Brazil. Apart from India and Brazil, BRICS countries include Russia, China, South Africa, Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates. "Affirming each country's right to determine its own energy transition path and pace, the ministers advocated efficient use of all energy sources and called for increased concessional and low-cost financing from developed to developing nations," a power ministry statement said on Tuesday. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Nguyen Cu Trinh: Unsold Furniture Liquidation 2024 (Prices May Surprise You) Unsold Furniture | Search Ads Learn More The energy ministers also highlighted the role of the New Development Bank (NDB) in promoting sustainable energy infrastructure , especially through local currency financing. At the Energy Ministers' meeting, the participants called for stronger partnerships, supported open, fair, and non-discriminatory international energy markets, and encouraged the use of local currencies in energy trade, the statement said. Live Events The ministers also advocated for the adoption of fair, transparent, and consistent guidelines for assessing carbon intensity, energy classification, and mutual recognition of taxonomies and certifications. Underscoring energy security as vital for socio-economic development, they highlighted the importance of market stability, resilient infrastructure, diversified energy sources, and critical minerals for clean technologies . In his address, Lal underscored the vital role of fossil fuels in the global energy mix -- especially for developing countries -- and urged greater cooperation to promote their cleaner and efficient use through technologies such as coal gasification, carbon capture and storage, and green chemical innovations. BRICS energy ministers reaffirmed their commitment to strengthening energy security and advancing UN Sustainable Development Goal 7 (SDG 7), focusing on universal electricity access, clean cooking, and tackling energy poverty. "They emphasised the need for just, inclusive, and balanced energy transitions in response to climate change," the statement said. Highlighting India's achievements in the energy sector over the past decade, Lal said the country has increased its electricity capacity by 90 per cent to reach 475 GW in 2025 and aims to achieve 900 GW by 2032. Besides, India is launching a domestic carbon credit market, and invites interested players from across the globe for collaborations, Lal said. As per the statement, the BRICS ministers have also reaffirmed the goal to double energy efficiency by 2030 and emphasised enhanced cooperation and knowledge sharing.
