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Energy Transition: Commission announces three Energy Compacts at UN High-Level Dialogue in New York

At the UN High-Level Dialogue on Energy this week in New York, Executive Vice-President for the European Green Deal, Frans Timmermans and Commissioner for Energy, Kadri Simson presented three Energy Compacts, in partnership with the International Energy Agency and the International Renewable Energy Agency. In their roles as Energy Access Champion and Just Transition Champion in this UN process respectively, the Executive Vice-President and the Commissioner highlighted the EU's willingness to lead the global efforts to reach universal energy access by 2030 and accelerate the clean energy transition, and showed concretely how the European Green Deal plays a role on the global stage.

Executive Vice-President Frans Timmermans, recently said:

Clean energy is more affordable now than ever, so the time is ripe to break the global dependence on fossil fuels. Recovery from the pandemic gives us an opportunity to transition faster and to build new energy systems based on renewables. It is important that we address these issues at this moment of recovery and cooperate to accelerate the global energy transition.

Commissioner for Energy, Kadri Simson, recently said:

The EU is supporting the global dialogue on just transition based on our own experience in moving away from coal. We are inviting other donors, International Financial institutions and investors to take these steps with us, to turn roadmaps and strategies into projects which bring clean energy and sustainable jobs.”

The three UN Compacts which the Commission announced will contribute to mobilising the investments necessary to reach universal energy access and to accelerate the clean energy transition around the world.

  • Firstly, a new project with the International Energy Agency (IEA) will prepare zero
    emission energy roadmaps for countries dependent on coal. The roadmaps will propose inclusive pathways for energy system decarbonisation that ensure a just, socially fair transition that leaves nobody behind, while ensuring security of energy supply and growing energy access.
  • Secondly, we will cooperate with the International Renewable Energy Agency (IRENA) to prepare Regional Energy Transition Outlooks for Africa, Latin America and the Caribbean and Europe. They will provide a thorough analysis of the regions' potential and options in terms of renewable energy, energy efficiency, infrastructure, energy access and cross-border cooperation, as well as an assessment of investment needs and socio-economic impact. They will include concrete policy recommendations to achieve the Sustainable Development Goal on energy, in line with the 1.5 degree Paris objective.
  • Thirdly, we will work with Denmark, Germany, IRENA and other partners on a Green Hydrogen Compact Catalogue. This will be designed to give a boost to green hydrogen worldwide, including a commitment to cooperate on renewable hydrogen development with the African Union in the framework of the Africa-Europe Green Energy Initiative.

The three Compacts are strongly linked to EU's climate and energy priorities, in particular universal energy access, just transition, and the promotion of renewable energy, including green hydrogen. The Compacts will contribute to achieving the global clean energy transition and complement the EU's commitments on climate finance.

The roadmaps and regional energy transition outlooks to be developed by the IEA and IRENA with targeted countries and regions will provide opportunities for guiding EU's further energy policy orientations and investment cooperation. The roadmaps and outlooks will also support the Africa-EU Green Energy Initiative, to be launched next year.

 

Original article link: https://ec.europa.eu/commission/presscorner/detail/en/IP_21_4877

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