Connect with us

Energy News

Ireland to host IEA 2019 global conference on energy efficiency

Newsroom

Published

on

IEA Executive Director Dr Fatih Birol (left) with Taoiseach Mr Leo Varadkar, Prime Minister of the Republic of Ireland (Photograph: IEA)

Ireland will host the International Energy Agency’s fourth annual Global Conference on Energy Efficiency, which will take place in Dublin this year on 24 June.

The IEA’s annual conference draws a large international audience and brings together Ministers, CEOs, heads of international organisations and other senior leaders to advance global progress on energy efficiency.

The event will begin with an address by Taoiseach Mr Leo Varadkar, Prime Minister of the Republic of Ireland. Ireland is a founding member of the IEA and has a strong record of performance on energy efficiency. The announcement follows a meeting between Dr Fatih Birol, the Executive Director of the IEA, and the Taoiseach at the World Economic Forum in Davos, Switzerland.

The conference theme this year is Modernising Energy Efficiency through Digitalisation, with a focus on the next generation of efficiency policies using digital technologies and data analytics. The event will also feature senior representatives from major technology companies to outline how innovative technologies can enhance global energy efficiency.

“Energy efficiency is the first fuel in a global sustainable energy system, and digital technologies can help boost efficiency gains across a range of economic sectors”, Dr Birol said. “Holding our annual conference in Ireland will be an excellent opportunity to shine a spotlight on this critical topic together with leaders from across the globe.”

Energy efficiency is a key focus area for the IEA, which conducts a range of activities on energy efficiency including in-depth analysis, best practice sharing with governments across the globe and capacity building with policy makers in emerging economies. The IEA also provides extensive online resources on efficiency, analysis and data.

Taoiseach Leo Varadkar said “Energy efficiency is an essential element of our response to the challenges posed by climate change. By making our homes, businesses and communities more energy efficient, we can reduce our carbon footprint and make a positive contribution to future generations. I am pleased that the IEA is holding its global conference in Dublin this summer. Ireland has a strong record on energy efficiency and I look forward to discussing how we can take a leading role on this area in the years ahead.”

Recent analysis by the IEA shows that, despite solid gains made since the turn of the century, and extensive evidence on the multiple benefits using energy more rationally, progress on energy efficiency has slowed in recent years.

Some countries have made important progress and innovations, but governments generally are not introducing enough new efficiency policies. In addition, global investments are still far below what is required to achieve the full potential of energy efficiency. The conference will provide an important occasion for key international stakeholders to take stock of progress on efficiency, and to commit to renewed action.

Continue Reading
Comments

Energy News

World Economic Forum and IRENA Partner for Sustainable Energy Future

Newsroom

Published

on

image credit: IRENA

The President of the World Economic Forum, Børge Brende, and the Director-General of the International Renewable Energy Agency (IRENA), Francesco La Camera, signed a Memorandum of Understanding (MoU) alongside the 75th session of the UN General Assembly and the Sustainable Development Impact Summit.

The Forum’s Energy Transition Index has found that, without urgent stakeholder action, COVID-19 will compromise the transition to clean energy. And IRENA’s Post-COVID-19 Recovery Agenda shows that while renewables have proven their resilience throughout the crisis, targeted policy action and investment in energy transition can leverage socio-economic benefits while staying on course towards a fully decarbonised system by 2050. This MoU brings together two international organizations to collaborate and advance a sustainable energy future through the adoption of new technology, financing and ambitious policy frameworks. It aims to advance the necessary global energy transition, decarbonise hard to abate sectors, scale up the deployment of clean technologies and enhance the energy literacy of decision-makers and the public.

“Countries need to significantly raise their level of commitment towards environmental sustainability, leveraging diverse policies, technologies and financing options,” Brende said. “Formalising this ongoing partnership during the Sustainable Development Impact Summit is an important step in strengthening the mission of our organisations. It brings together the knowledge, insight and innovation expertise of IRENA with the Forum’s global network to ensure these higher commitments are realised in the near term.”

“The energy transformation is at the heart of economic recovery,” La Camera said. “Renewable energy offers a way to carbon neutrality by mid-century, aligning short-term policy and investment decisions with our medium- and long-term objectives of the Sustainable Development Agenda and 1.5°C goal of the Paris Agreement. International cooperation is vital to support business and the public sector in their efforts to reach our climate goals. This reinforced partnership combines IRENA’s leading expertise on energy transition with the Forum’s proven record of success in driving change through public-private dialogue in pursuit of a global energy system that is fit for the future.”

“The Forum and IRENA have worked together for several years to support the energy transition,” said Roberto Bocca, Head of Shaping the Future of Energy & Materials, World Economic Forum. “This MoU strengthens the collaboration between our organisations to further accelerate and shape the trajectory of the energy transition ensuring it is sustainable, inclusive and supports the economic recovery following COVID-19.”

The past decade has seen rapid transformations as countries move towards clean energy generation, supply and consumption. Coal-fired power plants have been retired, as reliance on natural gas and emissions-free renewable energy sources increases. Incremental gains have been made from carbon-pricing initiatives.

The current state of the sector is described in the World Economic Forum’s Energy Transition Index 2020. It benchmarks the energy systems of 115 economies, highlighting the leading players in the race to net-zero emissions, as well as those with work to do. This year’s report flagged that COVID-19 could threaten the rate at which economies adopt more sustainable power. Sweden tops the overall ranking for the third consecutive year as the country most ready to transition to clean energy, followed by Switzerland and Finland. There has been little change in the top 10 since the last report, which demonstrates the energy stability of these developed nations, although the gap with the lowest-ranked countries is closing. The United Kingdom and France are the only two G20 economies in the top 10.

The Forum’s annual Sustainable Development Impact Summit brings together almost 2,000 leaders from around the world to scale up solutions that address the economic, social and environmental challenges of our time. Heads of State, CEOs, and leaders from civil society engage in dialogue to initiate, accelerate and scale-up entrepreneurial solutions that advance sustainable development goals. The summit takes place virtually from 21-24 September.

Continue Reading

Energy News

The Netherlands is well prepared to reduce CO2 emissions

Newsroom

Published

on

The Netherlands is taking a well-balanced approach to its plans for a rapid transition to a carbon-neutral economy that will support strong growth and energy security, according to a new energy policy review by the International Energy Agency.

To drive this ambitious shift, the Netherlands has focused its energy and climate policy on cutting greenhouse emissions, with targets to reduce emissions by 49% by 2030 and by 95% by 2050 from 1990 levels. In June 2019, it adopted a national Climate Agreement that was developed through a process involving diverse groups from across Dutch society that worked together to define policies and measures aimed at achieving these targets.

“The Netherlands’ Climate Agreement shows broad social and political commitment to its energy transition and serves as an excellent example of how collaborative policy-making can lay the framework for ambitious targets,” said Dr Fatih Birol, the IEA’s Executive Director. “The IEA looks forward to supporting the government as it implements its plans.”

The Netherlands faces notable challenges, the IEA policy review highlights, since its economy remains heavily reliant on fossil fuels and has a concentration of energy- and emission-intensive industries. The IEA report welcomes the steps the government is taking to address these challenges. These include the introduction of carbon pricing for industrial emissions and a competitive subsidy programme that supports a wide variety of emission reduction technologies. It also applauds the government’s leadership in supporting electric vehicles through incentives to purchase them and significant investments in charging infrastructure.

“I congratulate the Netherlands for developing a broad policy framework with robust measures to drive emission reductions in all sectors,” Dr Birol said. “The balance of ambitious targets and competitive support measures will help drive a cost-effective energy transition.”

The IEA report highlights new energy security challenges the Netherlands is facing. In line with its climate targets and in response to safety concerns over earthquakes caused by natural gas production, the government plans to end production from the Groningen gas field by mid-2022. Gas from Groningen covers a large share of the Netherlands’ heating and industrial energy demand and is a key source of regional gas supply.

The government is taking firm measures to reduce natural gas demand, both domestically and in cooperation with neighbouring countries. At the same time, it is taking a leading role in developing a market for low-carbon hydrogen to partly replace natural gas and drive emission reductions in hard-to-decarbonise sectors like industry and heavy transportation. This is complemented by support for carbon capture and storage, which is also aimed at lowering industrial emissions.

“The Netherlands has a clear vision for reducing its dependence on natural gas while protecting energy security,” Dr Birol said. “In addition, its commendable leadership on low-carbon hydrogen will help drive cost reductions that are needed for this important technology to play a key role in accelerating clean energy transitions around the world.”

Continue Reading

Energy News

World Bank Project to Boost Household Access to Affordable Energy

Newsroom

Published

on

Today, the World Bank Board of Directors approved $150 million in financing to improve access to modern energy for households, enterprises, and public institutions in Rwanda and to enhance the efficiency of electricity services. $75 million will be provided as grant funding, and $75 will be provided as a loan.  

Building on the achievement of previous World Bank support to the energy sector, the Rwanda Energy Access and Quality Improvement Project (EAQIP) will advance Rwanda’s progress towards achieving UN Sustainable Development Goal 7 (SDG7) to ensure access to affordable, reliable, sustainable and modern energy for all, while also contributing to the country’s aim of reducing reliance on cooking fuel by 50%.

“The proposed project is well-timed to build on the World Bank’s decade-long support to the Government’s energy sector agenda. It will contribute directly to Rwanda’s push toward universal energy access by 2024 and universal access to clean cooking by 2030”, said Rolande Pryce, World Bank Country Manager for Rwanda. “We are honored to be a long-term partner in this journey.”

Rwanda EAQIP aims to improve electricity access by providing funding for the country’s ongoing program of expanding grid connections for residential, commercial, industrial, and public sector consumers, as well as by providing grants to reduce the costs of off-grid solar home systems. The project will also enhance the availability and efficiency of low-cost renewable energy by restoring capacity at the Ntaruka Hydro-Power Project, reducing voltage fluctuations on transmission lines, and supporting the national smart meter program.

The project includes the World Bank’s largest clean cooking operation in Africa, and the first project co-financed by the recently launched Clean Cooking Fund (CCF), hosted by the World Bank’s Energy Sector Management Assistance Program (ESMAP). The CCF will provide $20 million for clean cooking, with $10 million provided as a grant and $10million extended as a loan. The project targets 2.15 million people, leveraging an additional US$30 million in public and private sector investments. By incentivizing the private sector and improving the enabling environment, the project aims to develop a sustainable market for affordable clean cooking solutions in Rwanda. 

The project is part of the Rwanda Universal Energy Access Program (RUEAP), which coordinates the efforts of development partners supporting the energy sector to contribute to the achievement of the targets set out in the National Strategy for Transformation (2017-24).

“The World Bank is proud to have led the RUEAP on behalf of the development partners, including the French Development Agency (co-financing the EAQIP). The World Bank looks forward to supporting the implementation of the ongoing program and expects to report positive outcomes in the lives of Rwandans” said Norah Kipwola, World Bank Senior Energy Specialist and the project Task Team Leader.

Continue Reading

Publications

Latest

Newsdesk1 hour ago

The Great Reset: A Global Opening Moment to Turn Crisis into Opportunity

H.M. King Abdullah II ibn Al Hussein of Jordan opened the World Economic Forum’s Sustainable Development Impact Summit 2020 with...

Energy News4 hours ago

World Economic Forum and IRENA Partner for Sustainable Energy Future

The President of the World Economic Forum, Børge Brende, and the Director-General of the International Renewable Energy Agency (IRENA), Francesco...

Urban Development5 hours ago

City Climate Finance Gap Fund Launches to Support Climate-smart Urban Development

Today, the City Climate Finance Gap Fund (“The Gap Fund”) was launched jointly by ministers and directors of the Governments...

Reports7 hours ago

Curbing Corruption in the Midst of a Pandemic is More Important Than Ever

Progress against corruption can be made even under the most challenging conditions, a new World Bank report finds. At a...

Newsdesk8 hours ago

3 Best MBA Programs in Europe

Master of Business Administration (starting now MBA) is one of the most popular programs in business management. MBA is a...

Economy9 hours ago

Protectionist headwinds in the US Trade Policy under Trump Administration

At the end of the First World War, US led internationalism was initiated by the then President Woodrow Wilson. When...

Energy News11 hours ago

The Netherlands is well prepared to reduce CO2 emissions

The Netherlands is taking a well-balanced approach to its plans for a rapid transition to a carbon-neutral economy that will...

Trending