0
Unlocking Finance for a Just and Equitable Energy Transition – an intergenerational dialogue
06 Dec. 2023
14:35h - 15:35h
GST/UTC+4
Dubai
Capacity-building Hub, Expo City
Expo City
Capacity-building
English
0
Unlocking Finance for a Just and Equitable Energy Transition – an intergenerational dialogue
06 Dec. 2023
14:35h - 15:35h
GST/UTC+4
Dubai
Capacity-building Hub, Expo City
Expo City
Capacity-building
English

Recording

 

Organizer

This session was organized by The Commonwealth Sustainable Energy Transition Agenda

 

Background

The Commonwealth Sustainable Energy Transition (CSET) Agenda enables Commonwealth member countries to work together to fast-track an inclusive, just, and equitable transition to low-carbon energy systems across the Commonwealth. 

In June 2019, delegates from across the Commonwealth gathered in London for the inaugural Commonwealth Sustainable Energy Forum. Three pillars of action emerged from their deliberations: (I) Inclusive Transitions; (II) Technology and Innovation and (III) Enabling Frameworks. 

The second Commonwealth Sustainable Energy Forum was held virtually in May 2021 to facilitate consensus building, knowledge sharing as well as raised ambitions amongst member countries to accelerate the transition to clean energy systems and achieve the goals of SDG 7. 

Member countries were also encouraged to step forward as champions to drive initiatives under the three CSET pillars of action. Country-led action groups drives initiatives under the three CSET pillars of action while the Commonwealth Secretariat provides technical and administrative support.  

To date, three Action Groups have been formed on Energy Literacy, Geothermal Action, and Youth Action, with the ‘Champion Countries’ stepping forward to rally action and steer activities for each. Eswatini champions the Action Group on Energy Literacy. Kenya, a world leader in the sector, champions the Action Group on Geothermal Energy, and the Youth Action Group is led by a steering committee made up of representatives from Nigeria, the United Kingdom, Tanzania and Singapore.  

Some of the ongoing projects under the CSET Agenda include: 

  • Partnership with the International Solar Alliance (ISA) 

 

Objectives

  • To facilitate an intergenerational dialogue to share experience, knowledge, and insights for enhancing access to climate finance in the Commonwealth. 

  • To engage with relevant stakeholders from across sectors, regions, and institutions directly involved in climate finance at different levels to support the realization of the SDG7 targets. 

  • To share opportunities for introducing innovation and scaling up actions by collaborating with other actors, combining climate efforts and finance at the national level; especially those aligned with low-carbon and climate-resilient development strategies. 

  • To exchange knowledge and information around the good practices, tools and case studies from organisations involved in providing access to climate finance. 

  • To amplify the diversity of voices, and experiences of young professionals in capacity building and access to climate finance from developed, developing and least developed countries, identifying capacity-building gaps and needs, as well as solutions for addressing those gaps and needs. 

 

Structure

Time Segment
10 min Welcome and Introductions
40 min Panel discussion by experts and young professionals
10 min Interactive Q&A session
Closing Remarks

 

Speakers

Name 

Affiliation/Organization 

 

Damilola Ogunbiyi 

UN SRSG for SEforAll, and Co-Chair of UN Energy 

 

Luiza Demoro 

Bloomberg New Energy Finance 

George Li 

The Association for Renewable Energy & Clean Technology 

 

Uzoamaka Nwamarah 

The Commonwealth Secretariat 

Jens Jaeger 

Alliance for Rural Electrification 

Chris Chukwunta 

International Renewable Energy Systems Inc. 

 

Moderators

Billy Afghan, Genii Earth

Will Hewett, Genii Earth

 

Key Outcomes

  • Strong government leadership and coordination, exemplified by Nigeria and Senegal's successful mini grid projects, are crucial for developing electrification plans and attracting private sector investment.
  • Bringing more localized and community-based approaches can help ensure long-term sustainability and local benefits of projects.
  • Tapping into innovation, such as repurposing abandoned pipelines and engaging insurance companies to address climate risks, attracts more commercial investment in resilience and adaptation projects.

 

Resources

The Commonwealth Sustainable Energy Transition (CSET) Agenda slides

International Renewable Energy Systems Inc

Genii Earth

Alliance for Rural Electrification

REA