Five Keys to the UN Plan to Revolutionize Energy Sources

Five Keys to the UN Plan to Revolutionize Energy Sources

The program, which was announced during the International Renewable Energy Agency (IRENA) Assembly, is primarily dedicated to removing barriers to intellectual property.

This, according to the UN headline, would allow key renewable energy technologies, including energy storage, to be treated as global public goods.

Second, the plan proposes that governments diversify and improve access to supply chains for raw materials and components for renewable technologies without harming the environment.

This move “can help create millions of green jobs, especially for women and youth in the developing world,” Guterres said in the quote.

A third level calls for policymakers to cut red tape, speed up the approval of sustainable projects around the world and modernize power grids, while the fourth calls for a focus on energy subsidies.

On the latter, the secretary-general insisted on the need to transition from fossil fuels to clean and affordable energy, a process in which “we must support the vulnerable groups affected by this transition,” he said.

For the fifth key, public and private investment in renewable sources should triple to reach at least $4 trillion per year.

Most renewable energy initiatives are conducted in developed countries, Guterres said, so it’s important to work together to reduce the cost of capital and ensure funding for those most in need.

Multilateral development banks should also invest heavily in reusable sources infrastructure, while wealthier nations should work with credit agencies to increase green investment in developing countries, he conceded.

“Renewable energies are the only credible way if the world wants to avoid a climate catastrophe,” emphasized the representative.

Only these sources can secure the future of the planet, close the energy access gap, stabilize prices and guarantee energy security, he said.