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Secretary-General Urges Big Greenhouse Gas Emitters to form Climate Solidarity Pact, Stressing Renewables ‘Only Credible Path Forward’ intended for Securing Humankind’s Future

Excellencies, I am pleased to greet the particular thirteenth session of the Assembly of the International Renewable Energy Company. Together, let’s jumpstart a renewables revolution and create a brighter future for all. Following is the text of Un Secretary-General António Guterres’ movie message to the thirteenth session of the International Renewable Energy Company (IRENA) Assembly “World Energy Transition — The Global Stocktake”, in Abu Dhabi, Usa Arab Emirates, today: Multilateral development banks must perform their part by investing massively in renewable energy infrastructure, taking on more risks, plus leveraging private finance.   Created countries must work with credit agencies to scale up green investments in developing nations.   And I urge Ministers of one’s and others to promote ambitious national policies and greater social and economic equity, which includes by taxing the windfall profits of those exploiting nowadays energy crisis. First — we must remove intellectual home barriers and treat essential renewable technologies, including power storage, as global open public goods.   Second — we must diversify and increase entry to supply chains for recycleables and components for renewables technologies, without degrading our environment.   This can help create millions of eco-friendly jobs, especially for women and youth in the developing world.   Third — decisionmakers must cut the red tape, fast-track home loan approvals for sustainable projects worldwide and modernize grids.   Fourth — energy subsidies should shift from fossil fuels to wash and affordable energy.   And we must support vulnerable organizations affected by this transition.   And fifth — public plus private investments in renewables should triple to a minimum of   trillion a year. Thank you. Excellencies, I welcome the Just Energy Transition Relationships that have been established to support Viet Nam, Indonesia and S. africa.   Such initiatives are a critical first step.   But we have to go faster and further.   For this reason I have called for a Environment Solidarity Pact in which most of big emitters make an extra effort to reduce emissions this particular decade and ensure financial plus technological support for nations that need it. If we are to avert climate catastrophe, renewables are the only credible route forward.   Only renewables can safeguard our future, close the energy access gap, strengthen prices and ensure energy protection. As you collect to take stock of the world’s energy transition, one obvious fact stands out: Our world is still addicted to fossil fuels with the 1 . 5 ° C objective fast slipping out of reach.   Under current policies, we are headed for 2. 8 ° C of global warming right at the end of the century.   The consequences will be devastating.   Several parts of our planet will be uninhabitable.   And for a lot of, this is a death sentence. Today, their particular share in global electricity is about 30  per  dollar.   That must double to over 60  per  cent by 2030 and 90  per  dime by 2050.   And it is achievable — if we act now.   To assist get us there, I have put forward a Five-point Power Plan for a just transition. Today, most purchases in renewables are in the developed world.   The price of renewable technologies can be seven moments higher in developing countries.   We must all work together to reduce the capital cost for renewables — and ensure that financing flows to those who need this most.

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