The shift towards more energy-efficient and renewable-based energy systems in industry was the subject of a discussion during a side event at the 6th Global Environment Facility (GEF) Assembly hosted by the United Nations Industrial Development Organization (UNIDO).
The session brought together finance and technology experts and policymakers to showcase progress made in Viet Nam, a country supported by the GEF and UNIDO in implementing targeted industrial energy efficiency programmes. The participants also discussed the gaps and planned interventions within the GEF7 cycle to unlock the potential for energy efficiency and renewable energy applications in high-impact countries.
“Although renewable electricity continues to grow steadily around the world, renewable heating and cooling is making slow progress, renewable transport fuels remain at a low share in spite of the growth in electric vehicles, and energy efficiency opportunities are not yet in the mainstream,” said Ralph Sims, member of the GEF Scientific and Advisory Panel (STAP). “We will need a far more rapid uptake of renewables if we are to ever meet the goals of the Paris Climate Agreement,” he emphasized.
UNIDO has been working with the GEF and many partners on energy efficiency programmes targeting industries in developing and emerging countries for the past 10 years. The implementation of these programmes demonstrates a number of direct benefits for industry and also the local economy, such as improved productivity, increased energy security, lower energy costs, and job creation.
“UNIDO is pleased to continue working with the GEF and client countries to develop rigorous and accelerated plans to decarbonize industry and integrate renewable energy for meeting the supply needs in industry,” said Tareq Emtairah, UNIDO’s Director of Energy. “Innovative partnerships and an expanded number of partners will be required to deliver new solutions for industry. UNIDO will continue to engage with new partners to further promote sustainable energy use in Industry,” he added.
The International Energy Agency’s World Energy Investment Report 2017 states that the total invested in energy efficiency in 2016 was $231 billion, but much more is needed. Jiwan Acharya, senior energy specialist at the Asian Development Bank, shared key insights on the barriers preventing further progress and on new financing instruments available for energy efficiency.
Original source: UNIDO
Published on 26 June 2018