Nations in new $400b commitments on clean energy

at a critical UN energy summit aimed at boosting efforts to reduce the ranks of nearly 800 million people living in energy poverty, while setting the world on a trajectory towards net-zero-emissions by 2050.More than $400 billion in new finance and investment was committed by governments and the private sector during the UN High-level Dialogue on Energy, the first leader-level meeting on energy under the auspices of the UN General Assembly in 40 years.

President Muhammadu Buhari assured that Nigeria is continuing its transition to a low-carbon economy, consistent with achieving the Paris climate agreement and the SDGs. The roadmap, which will be presented in the summary of the Dialogue by the Secretary-General, called on governments, businesses and civil society organisations to close the energy access gap by 2030, and accelerate the clean energy transition by tripling investments in clean energy and energy efficiency by 2030.

By engaging businesses, foundations, civil society organisations and other key players, the Compacts are advancing concrete multi-stakeholder solutions and partnerships needed to achieve greater impact.

Source: Energy Industry News (energyindustrynews.net)

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