The New Delhi declaration speaks of phasing out and rationalising fossil fuel subsidies.
Apart from the Russia-Ukraine war, if there was one area that had the members of the G20 divided, it was climate. The group was finding it difficult to agree on commitments to tackle the climate crisis, and the fact that a consensus emerged on the pressing issue and all members agreed to sign the declaration is being seen as a big victory for India and the world.
The countries in the grouping did not only differ on the commitments being proposed, but the developed-developing nation divide - which has reared its head at almost every major summit related to climate - was also apparent.
Among the sticking points for the members were commitments on phasing down fossil fuel use - which China and Saudi Arabia had objected to - increasing renewable energy targets and reducing greenhouse gas emissions.
When the wording of the declaration was being hammered out, India and other developing were pushing for developed nations to fulfil their commitments, whereas the developed countries wanted "all nations" to focus on climate-related targets.
In June, at a World Environment Day event, Prime Minister Narendra Modi had said poor and developing countries are paying the price for the "wrong policies" of some developed nations. He had said India has been strongly raising the issue of climate justice with all such countries.
At a G20 energy ministers' meeting the next month, far from agreeing on a roadmap to phase down the use of fossil fuels, the final statement had failed to even mention coal. The countries that had raised objections at the time included Russia and Saudi Arabia.
The New Delhi declaration speaks of phasing out and rationalising fossil fuel subsidies. It also says that the member countries will increase efforts to phase down "unabated coal power" and scale up the generation of clean energy.
Under the header 'Implementing Clean, Sustainable, Just, Affordable & Inclusive Energy Transitions', the declaration says "We will increase our efforts to implement the commitment made in 2009 in Pittsburgh to phase-out and rationalise, over the medium term, inefficient fossil fuel subsidies that encourage wasteful consumption and commit to achieve this objective, while
providing targeted support for the poorest and the most vulnerable."
Another point in the declaration reads, "We recognise the importance to accelerate the development, deployment and dissemination of technologies, and the adoption of policies, to transition towards low-emission energy systems, including by rapidly scaling up the deployment of clean power generation, including renewable energy, as well as energy efficiency measures, including accelerating efforts towards phasedown of unabated coal power, in line with national circumstances and recognising the need for support towards just transitions."
Among the paragraphs on supporting developing countries, one states, "Recognising that developing countries need to be supported in their transitions to low carbon/emissions, we will work towards facilitating low-cost financing for them."
The New Delhi Declaration is even more important as it comes two months ahead of COP 28, the 2023 UN Climate Change Conference, in Dubai. The world will hope that the consensus achieved at the G20 summit will be carried into the conference.
Speaking in New Delhi on Friday, UN Secretary-General Antonio-Guterres had said, "I have come to the G20 with a simple but urgent appeal: we cannot go on like this. We must come together and act together for the common good."
Mr Guterres had urged G20 leaders to show leadership in two priority areas, with the first being climate. "The climate crisis is spiralling out of control. But G20 countries are in control. Together, G20 countries are responsible for 80% of global emissions. Half-measures will not prevent full climate breakdown," he had warned.