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G20 countries declare intention to ensure energy market stability

The G20 countries also stressed the importance of ensuring affordable energy supplies

BALI, November 16. /TASS/. The G20 countries are committed to fighting global energy poverty and ensuring energy markets stability, according to the G20 joint declaration approved on Wednesday following the Bali-hosted summit.

"We reaffirm our commitment to achieve SDG7 targets and strive to close the gaps in energy access and to eradicate energy poverty. Recognizing our leadership role, and guided by the Bali Compact and the Bali Energy Transition Roadmap, we are committed to finding solutions to achieve energy markets stability, transparency, and affordability. We will accelerate transitions and achieve our climate objectives by strengthening energy supply chain and energy security, and diversifying energy mixes and systems," the statement said.

The G20 countries also stressed the importance of ensuring affordable energy supplies. "We reiterate our commitment to achieve global net zero greenhouse gas emissions/carbon neutrality by or around mid-century, while taking into account the latest scientific developments and different national circumstances," the statement said.

The adoption of the joint declaration was the main intrigue of the two-day summit of G20 nations that took place on the Indonesian island of Bali. Until the last moment, it was not guaranteed that the final text would be approved. Numerous sources close to the talks noted that Indonesian President Joko Widodo personally worked hard to ensure that the summit would end with the adoption of the final document.

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