Connect with us

Newsdesk

Shift to clean, affordable energy critical to attaining Global Goals

Newsroom

Published

on

To tackle the double challenge of energy poverty and climate change – producing clean, affordable energy at a pace that will meet rising demand without environmental detriment – all stakeholders must step up efforts to transform the world’s energy systems for everyone’s benefit, United Nations Secretary-General António Guterres said Wednesday.

“Energy is the golden thread that connects all the Sustainable Development Goals (SDGs),” the Secretary-General told a High-Level Symposium on Global Energy Interconnection, at UN Headquarters today, where participants gathered to discuss ways to advance the 17 globally-agreed Goals.

Modern energy services are integral to poverty reduction, food security, public health and quality education for all. Moreover, they are the key to sustainable industrialization, healthier more efficient cities and successful climate action.

Despite this understanding, Mr. Guterres said the world is still far from achieving the vision of SDG7 on affordable and clean energy for all. Indeed, some one billion people still live without any access to any electricity at all – 500 million in Africa and more than 400 million in the Asia-Pacific region. And three billion still cook and heat their homes without the benefit of clean fuels and more efficient technologies.

“So, the world needs more energy, and – in particular – more clean energy,” Mr. Guterres continued, but stressed that as this need rises, the world is experiencing rising temperatures and in 2016, atmospheric levels of carbon dioxide surged to a new high.

Recalling the sobering report issued just yesterday by the UN Environment Programme (UNEP) which found that pledges made under the Paris Agreement are only a third of what is required by 2030 to avoid the worst impacts of climate change, the Secretary-General said falling short of the agreed 2 degrees Celsius temperature rise would be “catastrophic.”

Against this background, and in light of the devastating hurricane season that had just battered the Caribbean and similar extreme weather events elsewhere, urgent climate action is needed. “That means transforming the world’s energy systems. It means promoting modern technologies than can fulfil energy needs without polluting the environment and pumping greenhouse gases into the atmosphere,” Mr. Guterres explained.

He said today’s Symposium could help point the way, as it would feature both policy- and technical-level presentations on how to strengthen global energy interconnection through the deployment of smart grids.

“With smart grids it is now feasible to generate, transmit and distribute power efficiently, cutting transmission losses and providing clean, affordable, economically viable and environmentally sound energy services,” he stated.

Echoing the Secretary-General’s sense of urgency, Liu Zhenmin, the UN Under-Secretary-General for Economic and Social Affairs, said the 2030 Agenda for Sustainable Development, with its 17 SDGs and 169 targets, puts a strong emphasis on inter-linkages. As such, progress in implementing SDG7 on energy is bound to impact delivery on other Goals.

“Likewise, without increased access to modern energy, energy efficiency and renewable energy, there will be no progress on climate action,” he said, emphasizing: “So, we need to move from silo to synergy.” And in that regard, the UN is reforming its development system in response to the 2030 Agenda to provide more coherent support to Member States.

Turning to the role of SDG7 in the broader context of the 2030 Agenda, Mr. Liu highlighted three key points:

  • Ensuring access to affordable, reliable, sustainable and modern energy for all is fundamental to a peaceful, inclusive and sustainable work, and a necessary investment in our collective future;
  • Energy is inextricably linked to most of the global challenges now and in the future, including poverty, food security, clean water, infrastructure, public health, education, economic growth, youth’s and women’s empowerment, and climate change; and
  • Access to modern energy must go beyond residential power access. It must aim to unlock new entrepreneurial opportunities for the growing workforce, so that they can become the next global engine for the new economies of the future.

“New technologies, new business models, and new approaches to capacity building are all needed to transform the world and achieve global sustainable development. The global energy interconnection, through smart grids, offers one such avenue,” he said.

But such global energy interconnection, or GEI, can only work in partnership. “The technology for worldwide energy connectivity is there. The barriers are institutional, not technological,” stated Mr. Liu, calling for a change in mindset, and stressing that decisive progress can only be made through partnerships that mobilize and share knowledge, expertise, technology and financial resources.

Continue Reading
Comments

Newsdesk

IEA holds high-level workshop on the future of electricity

Newsroom

Published

on

Participants in the IEA's electricity workshop will help focus the work of the next World Energy Outlook's fuel focus on electricity (Photograph: IEA)

The future of electricity will be the “fuel” focus of the next World Energy Outlook, the International Energy Agency’s flagship publication, to be released in mid-November.   

As part of an agency-wide effort on this WEO electricity focus, the IEA hosted a high-level workshop in Paris on Tuesday, bringing together decision makers and leading experts from around the world to provide strategic guidance on the analysis and share their experience. The workshop marked a high point in the IEA’s “Year of Electricity,” examining various aspects of the transformation of the electricity sector this year.

The workshop was attended by representatives from 75 organisations, covering a wide range from government, industry, utilities, manufacturers, downstream, consulting, industry associations, research and academia. It also included a broad regional coverage, with participants representing more than 40 countries, from the IEA family and beyond.

The future looks bright for electricity, which is set to grow at twice the rate of overall energy demand to 2040. In 2016, total power sector investment surpassed that of oil and gas for the first time, propelled by renewables, mostly solar and wind. Meanwhile 1.1 billion people still lack access to electricity globally, new demand is coming from electric mobility, digitalization, cooling and heating.

And the nature of electricity supply is undergoing a major transition, from a century-old foundation of dispatchable fossil fuels to ever cheaper variable renewables, with related market reforms underway. The power sector is responsible for close to 40% of energy-related greenhouse-gas emissions, 60% of coal use and 36% of natural gas use. Understanding changes in the power sector is therefore essential to analysing progress towards environmental goals and understanding global energy trends.

The objectives of the WEO’s focus on electricity will include:

– Assessing the long-term outlook for electricity demand, with insights on traditional and new sources of demand growth such as electric vehicles, digitalization, cooling and energy access in developing countries, and the emerging need for responsive demand.

– Providing in-depth analysis of the speed of the transition underway in electricity supply – highlighting global issues and regional perspectives – based on the latest market data, technology developments and government policies.

– Investigating the implications on electricity security, environmental protection and economic development, with insights on market designs.

– Exploring key uncertainties, resulting from the pace of deployment for new technologies, market and policy developments, and changing consumer preferences.

In addition, this year’s WEO will also have a focus on oil and gas producing economies.

Continue Reading

Newsdesk

ADB Operations Reach $32.2 Billion in 2017- ADB Annual Report

Newsroom

Published

on

The Asian Development Bank (ADB) Annual Report 2017, released today, provides a clear, comprehensive, and detailed record of ADB’s operations, activities, and financial results over the past year.

Annual operations of ADB reached a record $32.2 billion in 2017, as the bank continues to meet Asia and the Pacific’s growing development needs, according to the Annual Report. This was a 26% increase from the year before.

ADB’s total operations of $32.2 billion last year consisted of $20.1 billion in loans, grants, and investments from its own resources (up 51% from 2016) including nonsovereign operations of $2.3 billion (a 31% increase from 2016); $11.9 billion in cofinancing from bilateral and multilateral agencies and other financing partners; and $201 million in technical assistance (a 11% increase from 2016).

These figures are based on ADB’s new performance measure of “commitments,” or the amount of loans, grants, and investments signed in a given year. ADB introduced this measure in 2017 to promote project readiness at approval stage, expedite post-approval steps, and get closer to project disbursement, by placing more emphasis on when the projects are signed, rather than when they are approved by ADB’s Board of Directors.

“We began a new chapter in meeting development needs across Asia and the Pacific in 2017,” said ADB President Takehiko Nakao. “With the merger of the bank’s concessional Asian Development Fund lending operations with the ordinary capital resources balance sheet from the start of 2017, ADB has a solid capital base to support our operations going forward.”

Mr. Nakao added, “We continue to combine finance with innovative solutions to respond better to the region’s diverse and specific challenges and needs, such as rapid urbanization, climate change, and growing demand for water and energy.”

ADB’s financing of climate mitigation and adaptation reached a record $4.5 billion in 2017, a 21% increase from the previous year. The bank is now in a good position to achieve its $6 billion annual climate financing target by 2020. ADB also mobilized an additional $606 million from external financing, bringing total climate financing to $5.2 billion last year.

The Annual Report emphasizes the importance of partnerships for ADB in scaling up project financing, and for sharing development knowledge and expertise. With the support of donors, ADB established five new trust funds in 2017 that will unlock capital for climate investments through innovative financial products, increase private sector participation in climate change mitigation and adaptation projects, help cities prepare high-priority urban infrastructure investments, increase mobilization of domestic resources, and integrate high-level technology into infrastructure project designs.

On the downside, ADB’s disbursements decreased to $11.1 billion in 2017 from $12.3 billion in 2016, according to the Annual Report. Cofinancing also fell short of ADB’s targets.

“We will come up with concrete measures to increase disbursements and cofinancing, building on the new ADB procurement policy approved in April 2017 and ongoing efforts to leverage the bank’s resources,” said Mr. Nakao.

The Annual Report 2017 presents a more comprehensive picture of ADB operations than the previous annual reports in terms of numbers and institutional data. It provides expanded sections on financial highlights, sector and thematic work, and knowledge. ADB’s specific assistance to countries and regional programs, lists of trust funds and corporate reports, and organizational structure are also added.

The figures in the report update the provisional operations numbers released by ADB in January.

Continue Reading

Newsdesk

New Funding for Mindanao Trust Fund to Strengthen Peace and Development in Southern Philippines

Newsroom

Published

on

Efforts to bring peace and progress in Mindanao were reaffirmed today following the signing of a new agreement that will build more socioeconomic infrastructure and improve literacy in conflict affected areas.

The new Program Partnership Agreement signed by the Bangsamoro Development Agency (BDA) – the development arm of the Moro Islamic Liberation Front (MILF) – and humanitarian organization Community and Family Services International (CFSI) entrusts the two parties to implement the USD 3.2 million grant with financing from the Mindanao Trust Fund for Reconstruction and Development (MTF).

The Spanish Agency for International Development Cooperation (AECID) also provided complementary funding amounting to 1 million euro to support similar activities.

“This new partnership agreement strengthens Normalization under the Comprehensive Agreement on the Bangsamoro. It will help improve the quality of life of people in conflict-affected areas through community participation and the pursuit of sustainable livelihood within a peaceful, deliberative society,” said Secretary Jesus Dureza, Presidential Adviser on the Peace Process. “For four years, we have been reaching out to our fellow Filipinos in the south, touching lives and taking ‘peace by piece’ steps towards a developed Bangsamoro.”

Established in 2006 with support from development partners including the Australia, Canada, European Union, Sweden, New Zealand, and the United States, and administered by the World Bank, the MTF consolidates international development assistance for the socioeconomic recovery of conflict-affected communities in Mindanao and seeks to build confidence in the normalization process with the MILF.

From 2006 to 2017, development partners have provided PHP 1.4 billion (USD 28.9 million) to the program. Within this period, results delivered by the MTF-Reconstruction and Development Project include 573 projects that improved infrastructure, strengthen livelihoods and functional literacy in 315 conflict-affected communities across 75 municipalities. Nearly 650,000 people now benefit from clean water, better roads, and more post-harvest facilities and access to farming and fishing equipment.

“The support of the Philippine government and development partners towards projects that strengthen the Bangsamoro’s capacities to improve their socioeconomic conditions reinforce people’s trust on the Bangsamoro peace process and the passage of the Bangsamoro Basic Law,” said MILF Peace Implementing Panel Chair Mohagher Iqbal.

The project also supported activities to improve livelihoods, infrastructure, and basic literacy in the Six Acknowledged MILF Camps: Camps Abubakar, Omar, Rajamuda, Badre, Bushra, and Bilal. The decision of Secretary Dureza of OPAPP, the MILF, and development partners to further intensify these efforts through the MTF highlight the partners’ commitment to peace and development in Mindanao.

“Greater economic opportunity and access to basic services foster hope in conflict-affected areas, which can build understanding and collaboration among community members. The World Bank is committed to supporting efforts that enhance the prospects for peace in Mindanao,” said Mara K. Warwick, World Bank Country Director for Brunei, Malaysia, Philippines and Thailand.

“Australia is a longstanding supporter of peace and development in Mindanao, and is proud to be a partner for change in the second phase of the Mindanao Trust Fund,” said Australian Ambassador Amanda Gorely. “As the first phase has already shown, the socio-economic infrastructure and literacy projects it will provide can have a remarkable impact for communities in Muslim Mindanao.”

“One of the biggest challenges for development policies is to tackle the most vulnerable communities affected by multiple conflicts and threats; to not leave them behind. This complex aim needs joint resources from national and international stakeholders following a sound local leadership. MTF has acted as a valuable driver of such efforts,” said Juan Pita, General Coordinator of AECID.

The MTF has a steering committee that oversees the implementation and evaluation of the program. It is chaired by OPAPP, BDA, and the World Bank, which also serves as the trust fund secretariat.

Continue Reading

Latest

Newsletter

Trending

Copyright © 2018 Modern Diplomacy