Present energy transition remains inadequate to meet 1.5-degree pathway: RK Singh

“International cooperation will play a vital role in ensuring that all countries have an opportunity to accelerate the deployment of climate-proof technologies and secure the needed investment to achieve their goals”: IRENA’s Director-General Francesco La Camera.

Abu Dhabi: Union Power Minister RK Singh has said that the present pace of energy transition remains inadequate to achieve 1.5-degree pathway.

Speaking at the International Renewable Energy Agency’s 13^th (IRENA) Assembly in Abu Dhabi, R K Singh said it will require and access to technology.

During the event, India also assumed the presidency of 13^th IRENA Assembly and called for “collective action” to resolve the problem of climate change.

Reiterating the India’s commitments towards net-zero, he said at COP 21, Prime Minister Narendra Modi had committed of achieving 40 percent of installed electricity capacity from non-fossil energy sources by 2030. “The country has achieved this target in November 2021, nine years in advance” he said.

Highlighting the importance of renewable energy, he said that transitioning to renewables will be at the core of climate action, adding that the developmental needs and aspirations of the developing countries also have to be kept in mind as we transition to the future the world needs.

The Minister said the problem of climate change cannot be solved by one country and at the same time some countries transitioning will not help, it will require collective efforts.

“ It can be only achieved by helping countries that require help in meeting their targets of cutting down CO2 emissions” he said.

Talking about the finance he said, “We are getting funds from across the world, but that does not hold true for all countries”.

He said developing countries, especially in Africa are not getting investments. We have to put in place mechanism to help these countries, else energy transition will not happen.”

IRENA is conducting its thirteenth Assembly in Abu Dhabi, bringing together Heads of State, Ministers and energy decision-makers from multilateral organisations to take stock of progress and chart an action agenda to accelerate the global energy transition.

As the first annual milestone on the global energy agenda in 2023, the Assembly convenes over 1,500 high-level participants under the theme “World Energy Transitions – The Global Stocktake” to identify energy transition priorities in preparation for the UAE-hosted UN Climate Conference COP28 later in the year.

Meanwhile, the energy leaders say that the Short-term actions must be given top priority to urgently accelerate the energy transition in the coming years and course correct the 1.5°C pathway to 2050.

At the Assembly, IRENA members confirmed their readiness to fully support the UAE’s COP28 Presidency by establishing the latest knowledge on the renewable-based energy transition and leveraging the international cooperation through the Agency’s global platform.

Building a common understanding about what the roadmap to 2030 must look like is critical to drive a global energy agenda.

“Although energy transitions are progressing around the world”, IRENA’s Director-General Francesco La Camera said, “efforts must be accelerated, while ensuring that benefits are evenly spread across countries and communities”.

“International cooperation will play a vital role in ensuring that all countries have an opportunity to accelerate the deployment of climate-proof technologies and secure the needed investment to achieve their goals. IRENA’s membership offers a unique platform to drive a global energy agenda at COP28 and beyond” he added.

According to IRENA’s report, the share of primary energy requirements met with renewable energy can reach 47 per cent by 2030 and 57 per cent by 2050.