Energy has a big part in at least four of the announced priorities of Germany’s G20 presidency; trade and investment, climate and energy, 2030 Agenda, and the proposed partnership with Africa. This blog post discusses how the summit process can maximise the G20’s effectiveness in the field of energy.
Germany has taken over the G20 presidency at a time of increasing economic and political isolationism. In the face of a growing divide between those who benefit from globalization and those left behind, support for populist parties is on the rise in many industrialized countries, while mainstream parties are losing ground. The British vote to leave the European Union and the election of Donald Trump in the US are two of the most recent examples. The rising level of isolationism at present poses a risk to growth and employment potential. All in all, international integration has had a positive influence on the prosperity of all countries involved if distributed fairly. Germany should make use of its role at the head of the international forum and take a clear stance against the trend towards protectionism.