EIA commands renewables to be the leading source of energy in five years to come
The UN and World Bank partner to launch a $5 billion renewable energy initiative in Africa

On Monday, the United Nations together with its partners launched a $5 billion project to boost renewable energy capacity in Africa. UN Secretary General, Ban Ki-moon, told conference delegates in Paris that energy saving is a triple-win when trying to mitigate the effects of global warming.

According to the South African News, the Africa Renewable Energy Initiative, which aims to boost renewable capacity by 2020, was one of several launched.

Clean power initiative

The renewable initiative is headed up 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).

South African News reported that an estimated “$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.”

Need for sustainable energy

Ki-moon stressed the need for sustainable energy if the world is to reduce the increasing harm on the climate.

Ki-moon highlighted: “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.”

He added: “Saving energy is a triple-win solution. It can save money, reduce emissions, and provide additional energy capacity.”

Ki-moon noted that while it is vital for the world to adopt clean energy technologies, finance remains a challenge.

“But, to replicate this experience for billions more people, we will need finance.

“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,” Ki-moon said.

Keeping track of earth’s temperature

The UN together with the World Bank, addressed UN Climate Summit conference delegates on the imperative need to act fast and push the boundaries to ensure that there is an increase in sustainable energy.

This needs to be actioned to keep the earth’s temperature within 2 degrees Celsius.

“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,” South African News reported.