UNITED NATIONS, Jan 25 (APP): Pakistan has called for supportive global policies to enable cash-strapped developing countries to navigate the energy transition at an event commemorating ‘International Day of Clean Energy’.
“Developing countries with limited fiscal space are unable to invest in costly energy projects without enhanced access to finance,” Ambassador Usman Jadoon, deputy permanent representative of Pakistan to the UN, told delegates on Friday.
The special event, held at UN Headquarters in New York, was organized by the “Group of Friends of Energy”, an informal coalition of member states that actively collaborate and advocate for policies and initiatives focused on promoting sustainable energy access and development on a global scale, Pakistan co-sponsored the event.
The President of the General Assembly, Philemon Yang, was among those who attended the meeting.
Noting UN data of continued growth in the global deployment of clean energy technologies, especially in solar, electric vehicles and new wind power sectors as also downward equipment costs, the Pakistani envoy pointed out that the progress was uneven across different regions and technologies.
“When we look at developing and emerging economies, China accounts for the bulk of the positive momentum: this uneven growth highlights the need for more supportive international policies to enable developing countries to navigate the energy transition,” Ambassador Jadoon added.
Developing countries, he said, were dedicated to making their contribution to the just energy transition, with Pakistan having committed to increasing the share of renewable energy in it’s energy mix to 60% by 2030.
“We plan on adding an additional 13,000 MW of hydro power capacity by 2030,” he said, while also possessing immense potential in solar and wind energy.
Pakistan’s energy transition goals, Ambassador Jadoon said, were estimated to cost over US $100 billion, while pointing out that globally keeping 1.5 degree C within reach would require investments of US $150 trillion in transition technologies and infrastructure by 2050.
“Undoubtedly”, he added, “partnerships are essential to aid developing countries in overcoming these obstacles.
“On this International Day of Clean Energy, we must commit to taking the necessary actions, at both national and international level, to achieve our global energy transition goals.”
APP/ift