Peak Oil is You

Donate Bitcoins ;-) or Paypal :-)

Page added on June 23, 2012

Bookmark and Share

UN chief unveils clean energy pledges, investments

The U.N. chief unveiled these commitments to his “Sustainable Energy for All” initiative at the Rio+20 U.N. development conferences in Brazil, the first public pledges made to the program since its launch in September 2011.

“This initiative is already mobilizing significant action from all sectors of society. Working together, we can provide solutions that drive economic growth, expand equity and reduce the risks of climate change,” Ban said.

The initiative aims to transform the world’s energy systems to ensure universal access to modern energy services by 2030 and is one of the key outcomes Ban has been keen to highlight before the conclusion of the Rio summit.

At a press conference on Thursday, Kandeh Yumkella, Director-General of the U.N. Industrial Development Organization and co-chair of Ban’s high-level working group on the project, said the initiative was a way to ensure that 1.3 billion people will gain access to clean energy and to ensure that sustainable development stays on the agenda even after the Rio talks close.

“We were thinking beyond Rio. We were thinking what happens on July 1 when we leave here,” he said. Yumkella highlighted a few commitments that have so far been pledged.

Brazil committed to investing 4.3 billion US dollars to achieve universal energy access by 2014.

The United States pledged 2 billion US dollars in grants, loans and loan guarantees, as well as public-private energy technology to support the initiative.

The government of Barbados will increase the amount of renewable energy it uses to 29 percent of its electricity consumption by 2030.

A number of companies also submitted plans to the initiative to either reduce their own carbon footprints, change the way they produce energy or invest in clean energy projects.
The commitments from the private sector totaled over 50 billion US dollars, according to the U.N.

French utility company GDF Suez, for example, said it will invest in 50 local energy projects in developing countries by 2020 and boost its own installed capacity in renewable energy by 50 percent from 2009-2015.

Italian utility Eni said it has earmarked 5 billion US dollars to reduce its carbon intensity and spend 32 million US dollars in the Democratic Republic of Congo to capture gas from oil flaring.

Software giant Microsoft submitted its plan to become carbon neutral and implement an internal carbon fee across its business operations in over 100 countries.

Analysts at HSBC said in a report Thursday that while government negotiators at the Rio+20 summit are “haggling over a dwindling pool of traditional aid,” the private sector is focused on the need to scale up “trillions of investment dollars” per year for clean and accessible energy.
“The Sustainable Energy for All initiative is an example of a new way of working for the U.N.: using its convening power to identify critical bottlenecks to renewable, efficiency and universal access to energy, and then designing focused packages of policy incentives, public finance and private capital,” the bank said in a research note.

The analysts added that the initiative will require annual investment in the energy sector to rise from the current level of 1.3 trillion dollars to 1.8 trillion dollars.

5 Comments on "UN chief unveils clean energy pledges, investments"

  1. BillT on Sat, 23rd Jun 2012 2:46 pm 

    This is the giant economy package of Bull Shit from BanKy-moon. Where is the trillions to come from? Bernanke’s printing presses? Borrow it from China? Steal it from Social Security? You can count the countries on one hand that are not deeply in debt today and they are not going to save our wasteful asses from stewing in our own juices as the temperatures rise. Bet on it!

  2. rollin on Sat, 23rd Jun 2012 4:40 pm 

    Good point Bill T, sadly they will probably try to squeeze any workers left and make the rest magically appear.
    After looking over the IEA World Energy Outlook, I realized that they predict about 3 trillion in new oil investment over the next thirty years or so. Of course that implies people will still be burning the stuff by then.

  3. Kenz300 on Sun, 24th Jun 2012 12:18 am 

    Global Investments in Green Energy are up nearly a third to $211 billion one-third more than the $160 billion invested in 2009. China and other developing countries are now the biggest investors in large-scale renewables.

  4. BillT on Sun, 24th Jun 2012 12:59 am 

    Kenz, I hope you take an Alka-seltzer with all that crap you are swallowing. There are no real statistics in the world today. They died with the Dodo. Every industry lies like there is no tomorrow to push whatever they are selling.

    Yes, investments may be up, but are they accomplishing anything or are they just making a few people rich until they collapse like Solyndra? Green is the color of the money they bring in, not the product they put out.

    If you are building a ‘green’ shopping mall, in a town full of malls, does that make it a plus? Nope! It was not needed and so all of the resources used was a waste. ‘Green’ is the new fad campaign in most cases. The Nuclear industry claims it is “green”. Think Fukushima…$$$$$$$$$$$$$$$$$$$$$$$$

  5. Harquebus on Mon, 25th Jun 2012 12:49 am 

    Kenz300 is full of it as usual. Using renewable generators to grow the renewable generator base would be perpetual energy. To not use them to grow the renewable energy base is a waste of fossil fuel energy.
    Ban Ki-moon has been sitting on his brains for too long.

Leave a Reply

Your email address will not be published. Required fields are marked *