7 December 2015 – The United Nations and partners launched today a
$5 billion initiative to expand renewable energy capacity in Africa
today as
Secretary-General Ban
Ki-moon told the UN climate change conference (COP21) in Paris that
saving energy is a triple-win in the battle against global warming.
“The production and use of energy is responsible for more than half of
the world's total greenhouse gas emissions. That means energy is also
more than half of the solution. We need sustainable energy to reduce
global greenhouse emissions and avert the risks of runaway climate
change,” Mr. Ban
said, stressing that clean energy is equally important for ending extreme poverty. “Saving energy is a triple-win solution. It can save money, reduce
emissions, and provide additional energy capacity,” he added, noting
that renewable energy technologies are becoming cheaper and more
competitive, with many people accessing energy for the first time thanks
to solar panels, wind turbines or small hydro power plant.“But, to replicate this experience for billions more people, we will need finance,” he declared.“Let us build on these bold initiatives. A global energy transformation
must reduce heat-trapping emissions. It also needs to ensure that we
leave no one behind. Those things can only be achieved if we tackle the
issues of energy access, energy efficiency, and renewable energy
together as a trinity.”
COP21 held a thematic day on energy today, with the
Sustainable Energy for All initiative
(SE4All), a multi-stakeholder partnership backed by the UN and World
Bank, urging Governments, businesses and financial institutions to act
much faster and go much further to meet the ambitious goals of ensuring
sustainable energy for all while keeping the global temperature rise
within 2 degrees Celsius. SE4All is acting as a catalyst for a huge global movement for
revolutionary change in the world's energy systems, helping to build
working alliances across the public sector, private sector and civil
society and foster innovative policies, technologies and financing
mechanisms. Any rise of more than two degrees above pre-industrial levels by 2050
will have an ever more dangerous impact on planet Earth with devastating
droughts, floods and storms, and rising seas swallowing up ever more
low-lying land.The Africa Renewable Energy Initiative to expand renewable capacity by
2020 and achieve universal access was just one of several launched
today.The Initiative is led by the African Union's NEPAD (New Partnership for
Africa's Development) the African Group of Negotiators, the African
Development Bank, the UN Environment Program (
UNEP), and the International Renewable Energy Agency (IRENA). At least $5 billion in public and highly concessional finance between
2016 and 2020 from bilateral, multilateral and other sources, including
the
Green Climate Fund,
will be needed to leverage a further $15 billion in other investments,
for a total investment of at least $20 billion pre-2020. Other initiatives launched today included efforts to improve access to
electricity and energy efficiency, and promote renewable energy.Hundreds of Governments, businesses and financial institutions pledged
major action on energy efficiency, recognizing it as the basis of the
energy transition. More than 100 banks and a group of investors, managing close to $4
trillion in assets, committed to a major increase in energy efficiency
lending in their portfolios. Led by the European Bank for Reconstruction
and Development and the UNEP Finance Initiative, this is a major
undertaking toward the four-fold increase needed to realize the full
energy efficiency potential for climate change.