India has a crucial role to play in promoting clean energy and climate action as the world looks to recover from the COVID-19 pandemic, UN Secretary-General António Guterres said on Friday.
Delivering the 19th Darbari Seth Memorial Lecture, the UN chief called on India to take the lead in transforming global economic, energy and health systems to save lives, create inclusive economies and avert the threat of climate change.
“India can become a true global superpower in the fight against climate change, if it speeds up its shift from fossil fuels to renewable energy,” he stated.
With the pandemic putting sustainable development at risk, exposing vulnerabilities that will worsen with climate change, the Secretary-General outlined how switching to clean energy could benefit millions worldwide.
“Investments in renewable energy, clean transport and energy efficiency during the recovery from the pandemic could extend electricity access to 270 million people worldwide – fully a third of the people that currently lack it,” he said.
Furthermore, “these same investments could help create nine million jobs annually over the next three years”, he added.
End fossil fuel subsidies
Mr. Guterres highlighted India’s progress in the renewable energy sector.
The number of workers has risen five-fold since 2015, while last year, spending on solar energy eclipsed coal-fired power generation for the first time.
Despite significant challenges, the South Asian giant has embraced the technology that will power a sustainable future, and is a pioneer in areas such as clean cooking.
However, the UN chief noted that subsidies for fossil fuels, such as coal, are still roughly seven times higher than subsidies for clean energy. The situation is the same in many other parts of the world, something he found “deeply troubling”.
“I have asked all G20 countries, including India, to invest in a clean, green transition as they recover from the COVID-19 pandemic,” he said. “This means ending fossil fuel subsidies, placing a price on carbon pollution and committing to no new coal power plants after 2020.”
‘Up in smoke’
Fossil fuels, including coal emissions, create pollution that has severely damaged human health.
Mr. Guterres said eliminating them would result in a rise in life expectancy by 20 months, and prevent some 5.5 million deaths annually worldwide.
Unlike renewable energy, investing in fossil fuels is “bad economics”, he continued, which explains why the world’s largest investors are abandoning coal.
“They see the writing on the wall,” he said. “The coal business is going up in smoke.”
Time for bold leadership
The UN chief said he was inspired to learn about a “promising trend” in India.
During the pandemic, the proportion of renewable energy rose from 17 per cent to 24 per cent, while coal-fired power declined from 76 per cent to 66 per cent.
Mr. Guterres underlined that renewable energy must continue to grow, and coal use progressively phased out.
“Today is the time for bold leadership on clean energy and climate action. I call on India to be at the helm of the ambitious leadership we need,” he said.
Honouring a climate action pioneer
The Darbari Seth Memorial Lecture has been delivered annually since 2002, in honour of the late Indian industrialist and founder of The Energy and Resources Institute (TERI).
The Secretary-General described Mr. Seth as “a climate action pioneer” who stressed that his country must end its reliance on fossil fuels and instead invest in solar power.
“India has all the ingredients for exerting the leadership at home and abroad envisioned by Darbari Seth,” he said.
Global emissions are set to surge to an all-time high
Governments worldwide are deploying an unprecedented amount of fiscal support aimed at stabilising and rebuilding their economies, but only about 2% of this spending has been allocated to clean energy measures, according to new analysis from the International Energy Agency.
The sums of money, both public and private, being mobilised worldwide by recovery plans fall well short of what is needed to reach international climate goals. These shortfalls are particularly pronounced in emerging and developing economies, many of which face particular financing challenges.
Under governments’ current recovery spending plans, global carbon dioxide (CO2) emissions are set to climb to record levels in 2023 and continue rising in the following years. This would leave the world far from the pathway to net-zero emissions by 2050 that the IEA set out in its recent Global Roadmap to Net Zero.
These findings come from the new Sustainable Recovery Tracker that the IEA launched today to help policy makers assess how far recovery plans are moving the needle on climate. The new online tool is a contribution to the G20 Ministerial Meeting on Environment, Climate and Energy in Naples, which takes place on 22 and 23 July under the Presidency of Italy.
The Tracker monitors government spending allocated to sustainable recoveries and then estimates how much this spending boosts overall clean energy investment and to what degree this affects the trajectory of global CO2 emissions. The Tracker considers over 800 national sustainable recovery policies in its analysis, which are publicly available on the IEA website.
“Since the Covid-19 crisis erupted, many governments may have talked about the importance of building back better for a cleaner future, but many of them are yet to put their money where their mouth is. Despite increased climate ambitions, the amount of economic recovery funds being spent on clean energy is just a small sliver of the total,” said Fatih Birol, the IEA Executive Director.
Governments have mobilised USD 16 trillion in fiscal support throughout the Covid-19 pandemic, most of it focused on emergency financial relief for households and firms. Only 2% of the total is earmarked for clean energy transitions.
In the early phases of the pandemic, the IEA released the Sustainable Recovery Plan, which recommended USD 1 trillion of spending globally on clean energy measures that could feature prominently in recovery plans. According to the Plan – developed in collaboration with the International Monetary Fund – this spending would boost global economic growth, create millions of jobs and put the world on track to meet the Paris Agreement goals.
According to the Tracker, all the key sectors highlighted in the IEA Sustainable Recovery Plan are receiving inadequate attention from policy makers. Current government plans would only increase total public and private spending on clean energy to around USD 350 billion a year by 2023 – only 35% of what is envisaged in the Plan.
The Tracker shows the stark geographic disparities that are emerging in clean energy investment. The majority of funds are being mobilised in advanced economies, which are nearing 60% of the investment levels envisaged in the Sustainable Recovery Plan. Emerging and developing economies, many of which have limited fiscal leeway, have so far mobilised only about 20% of the recommended spending levels.
“Not only is clean energy investment still far from what’s needed to put the world on a path to reaching net-zero emissions by mid-century, it’s not even enough to prevent global emissions from surging to a new record. Many countries – especially those where the needs are greatest – are also missing the benefits that well planned clean energy investment brings, such as stronger economic growth, new jobs and the development of the energy industries of the future,” Dr Birol said
“Governments need to increase spending and policy action rapidly to meet the commitments they made in Paris in 2015 – including the vital provision of financing by advanced economies to the developed world,” Dr Birol added. “But they must then go even further by leading clean energy investment and deployment to much greater heights beyond the recovery period in order to shift the world onto a pathway to net-zero emissions by 2050, which is narrow but still achievable – if we act now.”
Portugal’s energy policies set a clear pathway towards 2050 carbon neutrality
Portugal’s equitable and well-balanced plans for reaching a carbon-neutral economy should support the country’s economic growth and energy security, according to a new energy policy review by the International Energy Agency.
Portugal’s energy and climate policies aim to reach carbon neutrality primarily through broad electrification of energy demand and a rapid expansion of renewable electricity generation, along with increased energy efficiency. These measures are backed by a strong focus on reducing dependency on energy imports and maintaining affordable access to energy. In the longer term, Portugal is aiming for hydrogen to play a major role in achieving carbon neutrality.
“Portugal was among the first countries in the world to set a target for carbon neutrality by 2050, and its Roadmap for Carbon Neutrality shows a strong commitment to electrifying its economy and ensuring a secure and affordable energy transition,” said Fatih Birol, the IEA Executive Director, who is launching the policy review today at an event with João Pedro Matos Fernandes, Portugal’s Minister for the Environment and Climate Action. “The IEA looks forwards to supporting the Portuguese government as it works on a fair and inclusive transition to a carbon-neutral economy.”
Portugal’s climate and energy goals still face notable challenges, the IEA policy review notes, with an economy that remains heavily reliant on imported fossil fuels today. The report welcomes steps the government is taking to address these challenges. An effective auction process for renewable energy projects should result in almost 2 gigawatts of new renewable generation coming online in the next few years, which will triple Portugal’s solar PV capacity.
Portugal is pushing to reduce oil demand and associated emissions through transport decarbonisation, with over EUR 10 billion of investments in electrified rail and public transport, favourable tax treatment for electric vehicles and support for charging infrastructure. Portugal is also taking a major step towards lowering emissions and reducing energy import dependency by phasing out coal-fired electricity generation in 2021.
Portugal sees a key role for hydrogen produced from renewable energy in hard-to-decarbonise sectors and for achieving carbon neutrality. The National Hydrogen Strategy sets a goal for hydrogen produced from renewable energy to cover 1.5-2% of Portugal’s energy demand by 2030, with use in industry, domestic maritime shipping, road transport and for injection into the natural gas network and potential exports.
“I congratulate Portugal for developing a broad policy framework with robust measures to achieve emission reductions,” Dr Birol said. “Portugal has found a good balance of ambitious targets and competitive support measures needed to drive a cost-effective energy transition.”
EU energy programme with Eastern partner countries extends into second phase
The European Commission has launched the second phase of its EU4Energy programme, which promotes low-carbon and clean energy transitions in the Eastern Partnership (EaP), a joint initiative involving the European Union, its Members States and six Eastern European Partners: Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine.
“Promoting the Clean Energy Transition in the Eastern Partnership Countries: EU4Energy Phase II” will run for the next four years and will help develop legislative and regulatory frameworks that support the region’s energy transformation and the liberalisation of its energy markets, as well the digitalisation of its energy systems. Beyond reducing emissions, the programme’s goal is to provide the citizens of the Eastern Partnership Countries with more stable and resilient energy supplies, empowering consumers and increasing energy security.
The International Energy Agency is a partner in the EU4Energy programme along with the Council of European Energy Regulators (CEER) and the Energy Community Secretariat (EnCS). The 8 July kick-off conference for the programme’s second phase includes country representatives from Armenia, Azerbaijan, Georgia, Moldova and Ukraine who will share their knowhow and experience to further enhance cooperation in the energy sector within the region.
The New World Order: The conspiracy theory and the power of the Internet
“The Illuminati, a mysterious international organisation made up of the world’s top political and social elites, controls the workings of...
Western Indian Ocean region has declared 550,000 square kilometers as protected
The Western Indian Ocean region has declared 143* marine and coastal areas as protected – an area covering 553,163 square...
Six things you can do to bring back mangroves
Don’t be fooled by their modest appearance: mangroves are important players in some of the greatest challenges facing the world...
ADB Calls for Just, Equitable Transition Toward Net Zero in Asia and Pacific
Asian Development Bank (ADB) President Masatsugu Asakawa today called for countries in Asia and the Pacific to take bold action...
Oil, acid, plastic: Inside the shipping disaster gripping Sri Lanka
It’s visible in satellite images from just off Sri Lanka’s coast: a thin grey film that snakes three kilometres out...
A question mark on FATF’s credibility
While addressing a political gathering, India’s external affairs minister S. Jaishanker made a startling lapsus de langue “We have been...
UNSC calls for ‘immediate reversal’ of Turkish and Turkish Cypriot decision on Varosha
The Security Council said in a statement released on Friday that settling any part of the abandoned Cypriot suburb of Varosha, “by people other than...
Economy3 days ago
Entrepreneurialism & Digitalization: Recovery of Midsize Business Economies
Middle East3 days ago
Greater Middle East may force China to project military power sooner rather than later
Intelligence2 days ago
USA and Australia Worry About Cyber Attacks from China Amidst Pegasus Spyware
Middle East3 days ago
Chinese FM Wraps Up his Visit to Egypt
Eastern Europe3 days ago
Latvia developed new tasks for NATO soldiers
Europe3 days ago
Belarus divorces from the Eastern Partnership: A new challenge for the EU Neighborhood Policy
Middle East2 days ago
A New Era in US-Jordan Relations
Africa Today2 days ago
Greenpeace Africa responds to the cancellation of oil blocks in Salonga National Park