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Washington, December 05, 2014 – Technology development and transfer plays an essential role in the global response to the challenges of climate change. As of today approximately 80% of the world’s energy, according to the World Bank Indicators, is supplied through the combustion of fossil fuels, which releases carbon dioxide and other green gas emissions into the atmosphere. Fossil fuels will continue to be the principal source of primary energy and electricity for the foreseeable future unless we significantly remodel our energy system.
As atmospheric greenhouse gas concentration continues to increase and higher demand of energy is expected from a growing global population (reaching 9 billion people by 2050), the implementation of a sustainable alternative is of great necessity. A persisting shift towards the development of renewable energy technologies such as wind, solar, geothermal, biomass and hydroelectric has proven to be an alternative that can help meet global energy demand, reduce greenhouse gas emissions and pollution and stimulate employment and technological development, thus contributing to economic growth.
Renewable energy, including traditional biomass, currently meets 13% of global primary energy demand and has the potential to meet the increasing demand for energy services in the developing world. By 2050, the share of renewable energy in global primary energy provision could raise to 30-50%, based on Global Energy Assessment (GEA 2012). The research points to the need to create enabling environments for renewable energy deployment in developing countries. Coordination of clean energy policies with relevant policies in other areas, such as agriculture, rural development, health, poverty eradication, gender equality and women’s empowerment, and energy security, have the potential to generate synergistic co-benefits at the local, national, and global levels.
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Wind Park near Kavarna, Bulgaria. Photo: Ivelina Taushanova/World Bank.
In order to create a sustainable global energy structure, energy efficiency and renewable energy need to be addressed conjointly. Every year, much of the energy the world consumes is wasted through transmission and distribution losses, creating higher level of costs and leading to increased carbon pollution. Energy efficiency is one of the most cost effective ways to combat climate change, improve the competitiveness and reduce energy costs. Energy efficiency gains also contribute to other national development goals, such as energy security, poverty alleviation, and increased productivity.
Recognizing these co-benefits, the GEF-6 Climate Mitigation Strategy for renewables include:
- Support for energy access initiatives at the local level, including demonstrations and piloting of renewable options.
- Support for policy and strategy frameworks to enhance integration of renewable options into energy supply systems.
- Enhancement of technical and financial capacities to stimulate renewable energy project development.
- Encouraging partnerships with institutions active in this area to help support global coordination efforts.
In addition, the GEF is helping mobilize the private sector to facilitate up-scaling of low carbon energy options. For instance, the GEF will support private energy service companies and Small and Medium Enterprises (SMEs) to promote renewable energy and energy efficiency in rural areas. Attention will be paid to rural women and SMEs to ensure that women have access to markets to contribute to both efficiency and renewable energy.
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