G7 tasks IRENA on monitoring group’s renewable energy progress - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

The Group of Seven (G7) Ministers’ Meeting on Energy, Climate and Environment has called on International Renewable Energy Agency (IRENA) to track the group’s collective contribution to COP28’s global target to triple renewables by 2030, reports ITREALMS.

The G7 leaders urged IRENA to track and monitor the group’s collective contribution toward the global renewable tripling target by next six years.

Innovation Week'23: IRENA spurs renewable solutions to decarbonise end-use sectors - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

Major energy sector gathering explores cutting-edge innovations to accelerate the global energy as leading companies, innovators and policy makers convene at the 2023 edition of the IRENA Innovation Week from 25 to 28 September in Bonn, reports ITREALMS.

Participants are to drive ground-breaking innovative renewable solutions that cut CO2 emissions in end-uses and accelerate the global energy transition.

IRENA, AUDA-NEPAD partner on regional interconnections in Africa - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

The International Renewable Energy Agency (IRENA) and the African Union Development Agency (AUDA-NEPAD) have signed an agreement aimed at supporting African countries in their efforts to achieve the African Union’s Agenda 2063 and the United Nations Sustainable Development Goal 7 to ensure access to affordable, reliable, sustainable and modern energy for all.

The agreement was signed  by IRENA Director-General Francesco La Camera and AUDA-NEPAD CEO Nardos Bekele-Thomas on the margins of Africa Climate Week in Nairobi.

IRENA launches report @G20 on low-cost energy transition finance - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

The International Renewable Energy Agency (IRENA) in partnership with the Indian G20 Presidency, launched a comprehensive report today on how low-cost finance can accelerate the energy transition. 

Nigeria at risk of energy transition says IRENA - ITREALMS

Exclusive@ITREALMS:

Nigeria is at risk of impact of the energy transition expected to reduce the fossil fuel imports, reports ITREALMS.

This was contained in the latest study released by the International Renewable Energy Agency (IRENA) via the Global Commission on the Geopolitics of Energy Transformation and made available to ITREALMS.

According to the study entitled ‘A New World’ suggested that the geopolitical and socio-economic consequences of a new energy age may be as profound as those which accompanied the shift from biomass to fossil fuels two centuries ago.

Precisely on the regional impact of the energy transition, IRENA noted that the majority of countries in Sub-Saharan Africa (SSA) will benefit from reducing fossil fuel imports and generating renewable energy domestically, because this will boost job creation and economic growth.

However, they predicted exceptions to this are Nigeria and Angola, which are the two biggest oil producers in the region.

As said by the study endorsed by IRENA chair, and the former President of Iceland, Mr. Olafur Grimsson, Nigeria and Angola, are at risk because they depend heavily on fossil fuel rents.

“Because of their size and large fossil fuel exports, they skew the data for SSA as a region,” the study revealed.ITREALMS gathered that in the long-term, however, African countries have a unique opportunity to leapfrog the fossil fuel-centred development model despite recent discoveries of oil and gas.

Conversely, the study pointed out that “Small Island Developing States (SIDS) will benefit most of all if they adopt renewable energy sources rather than fossil fuels.”

Stressing that the import of fossil fuels now amounts to some 8 per cent of their Gross Domestic Product (GDP).

“Many SIDS are also extremely vulnerable to the effects of climate change. SIDS possesses ample renewable energy sources and renewable technologies can meet most of their domestic energy needs.

“The shift would cut import bills, promote sustainable development, and increase their resilience.

“International cooperation to support SIDS’ renewable energy ambitions are growing substantially and 13 SIDS have established 60-100 per cent renewable electricity targets.

Nenye Dom/Editor

*JOIN our alert's group | Share stories with us | Advert placement: WhatsApp | SMS: +2348033592762 *Twitter: @ITREALMS *Email: itrealms.dsa@gmail.com*