RIYADH, Saudi Arabia –Energy ministers from the G20 countries have endorsed the Circular Carbon Economy Platform as a tool to manage emissions and foster access to energy.
The miniters acknowledged the Circular Carbon Economy (CCE) approach as a holistic, integrated, inclusive, and pragmatic approach to managing emissions that aims to provide new pathways towards economic growth.
In a joint statement, the ministers wrote: “By encompassing the broad range of pathways and options available it takes into account different national circumstances, while striving to meet our shared global aspirations…taking into account national and regional contexts, we will endeavor to explore various opportunities, including, the CCE Platform and existing G20 programs and initiatives, to advance transitions towards affordable and reliable energy for all.”
The CCE approach is built on the ‘4Rs’: Reduce, Reuse, Recycle, and Remove to advance stable and secure energy markets and energy access for all while holistically managing emissions and advance cleaner and more sustainable future.
Reduction can be achieved by encouraging technological innovations like renewables, efficiency and nuclear.
Reuse refers to converting emissions into value added materials to industries by utilizing and advancing Carbon Capture and Utilization (CCU), and Emissions to Value (E2V).
Recycle means relying natural processes and decomposition, including the use of energy carries like hydrogen, methanol and ammonia representing the natural cycle and recycling.
Remove revolves around implementing natural and geological Carbon Capture and Storage, Direct Air Capture, and natural based solutions to remove emissions from industries and the atmosphere.
The G20 believes the CCE approach can help address crucial issues in achieving universal access to energy.