Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States - Energy Access

Statement at the SDG Business Forum 2020: Catalyzing Finance and Investment for the Achievement of SDG 7

Anonymous — Wed, 23 Sep 2020 19:42:00 +0000

Statement by Ms. Fekitamoeloa Katoa‘Utoikamanu, High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States

23 September 2020
New York, USA

Excellencies,
Colleagues,
Ladies and gentlemen,

It is my pleasure to be here with you and participate in this important discussion on catalyzing finance and investment for the achievement of SDG 7.

The least developed countries, landlocked developing countries and small island developing states consists of 91 countries, with a total of 1.1 billion people. All three groups of countries face significant challenges across the three dimensions of SDG 7 - Access, Efficiency and Renewables.

Vulnerable countries are increasingly incorporating access to reliable, affordable and renewable energy in their national development plans.

Natural resource endowments including solar, hydro, geothermal and wind, provide these countries comparative advantages in achieving clean and accessible energy.

Despite the growth potential of their energy sector, LDCs, LLDCs and SIDS rarely benefit from large scale investments to the same extent as more prosperous developing countries.

For instance, public financial flows to developing countries in support of clean and renewable energy reached a total of US$ 21.4 billion in 2017. Only 12 per cent was directed to the least developed countries.

The success of delivering on SDG 7 hinges on a radical change of pace, and massive investment in the next few years.

The COVID-19 pandemic has highlighted the importance of robust and sustainable energy systems in managing risks and increasing resilience. The pandemic has had a disproportionate impact on communities that are energy poor.

Linked to the recovery, there is a growing global momentum for a clean energy transformation. Working together with donors and investors, vulnerable countries can leapfrog to renewable technologies.

Ladies and gentlemen,

To achieve the goal of energy transition, it is essential to create enabling environments that attract public and private renewable energy investments. Well-functioning institutions, supportive public finance policy and regulatory reforms help build credibility with investors.

Innovative partnerships are needed and I would like to briefly share with you an example of this kind of partnership that my office has been involved in in Malawi.

In 2019, UN-OHRLLS, together with the Government of Malawi, UNDP and Rocky Mountain Institute prepared a sustainable energy investment study for Malawi, a country that currently has a very low energy access rate. The study offered a roadmap for the sector to develop and seek 3 billion dollars of investment from a range of sources, to meet Malawi’s national policy goals in electricity and clean cooking, reaching universal energy access by 2030.

The study highlighted the following key messages:

Even as private investment and blended finance grow, development finance will still continue to play a significant role.
Being able to implement quick-win projects can unlock further commercial finance.
There is a range of climate finance sources that are available to vulnerable countries, however, accessing these sources can represent a significant administrative burden.
Capacity building and increased technical assistance remain critical, particularly to improve the pipeline of projects ready for investment.
There are real and perceived risks that make it more difficult and expensive for vulnerable countries such as Malawi to access capital. Governments and development partners must work together to reduce risks through a range of measures.

While this study is specific to Malawi, it can also offer important lessons that other countries can benefit from.

Ladies and gentlemen,

Here at the UN, as we discuss how we can build back better after COVID 19, we see enormous opportunity in developing renewable energy projects in the least developed countries, landlocked developing countries and small island developing states. Catalyzing finance is a key to unlocking this potential.

The upcoming High-level Dialogue on Energy, and the Fifth UN conference for Least developed countries, to be held in Doha Qatar in January 2022, provide important platforms to further scale up action.

I thank you for your attention.

Front Page Article:

Statement at the Virtual Event on the Energy Transformation in SIDS

Anonymous — Tue, 15 Sep 2020 14:00:00 +0000

Statement by Ms. Fekitamoeloa Katoa‘Utoikamanu, High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States

15 September 2020
New York, USA

Excellencies,
Colleagues,
Ladies and gentlemen,

Thank you, Ambassador Martin Bille Hermann of Denmark and Mr. Francesco La Camera, Director General of IRENA for your invitation to participate in this important event.

More than ever, resilience building to climate change is a must and energy transition is a key factor in this including for building strong foundations for sustainable growth and development.

The 36 participating SIDS, all development partners of the SIDS Lighthouse Initiative and IRENA are true champions in the SIDS Climate Action.

Ladies and gentlemen.

In so many ways, 2020 is defining year and the ongoing COVID-19 pandemic is a disrupter.

Beyond any doubt, in the years to come we all will experience fast and deep structural shifts and downgrades in global growth forecasts.

The pandemic has laid bare more than solely inequalities in access to health care. The pandemic exposes the many inequalities ranging from weaknesses in our economic infrastructures, inequalities in digital access, inequalities in accessing basic supply chains, inequalities in social safety provisions.

Energy always has been at the core of human agency and this pandemic has driven home once more the fundamental importance of robust and sustainable energy systems in managing risks and increasing resilience.

Small island developing states must be included in energy transition for three main reasons.

First, it reduces their heavy dependence on fossil fuels and exposure to price volatilities.

Second, it helps diversify local economies and the expansion of activity into emerging markets. It is a tool to move up in the value chain.

Third, it is not just the sustainable way to go but it can help build resilience in the face of ever increasing tropical storms and hurricanes.

A sustainable energy Guide for Caribbean Countries by SE4All issued in August drives it home.

In just one day, Saint Lucia lost 13,000 jobs – approximately 7 percent of the total population and 16 percent of the total labour force.

The same study argues that for every US dollar invested in the transition towards renewable energy, an additional 93 US cents of additional GDP growth above business as usual is expected to occur.

So, investment in renewables is the smart thing to do!

What has so far held investment back ?

A key factor resides in the high upfront financing cost of a renewable-energy infrastructure.

It is an obstacle for SIDS in achieving their energy transformation.

As I said before, COVID 19 is a disruptor and disruption is an opportunity also.

It is potentially , with the right support, an opportunity for SIDS to pursue their ambitious goals towards 100 per cent renewable energy.

The challenge before all of us is how do we go from vision to action?

Allow me to share with you some thoughts on key areas for accelerating action for a successful energy transformation in SIDS.

Ladies and gentlemen,

I think we can safely say we finally have a broad consensus in the international community that we must act NOW to accelerate the clean energy transition in SIDS.

It is key that governments and the international community work closely together to deliver targeted and effective measures to support the peoples of the SIDS.

Financing is an issue but financing is available.

The hurdle is in accessing that finance.

We must continue to advocate for dedicated funds for SIDS, including within the context of the International Financial Institutions. We must ensure streamlined, speedy finance access processes without of course compromising on transparency and accountability.

We must expand access to concessional financing for SIDS to complement their domestically financed packages.

In terms of the broader picture we must look into, I also must mention the issue of debt sustainability SIDS experience.

Currently, SIDS, like many other societies and economies, are faced with balancing short- term almost survival requirements with medium- and long term imperatives for sustainable and inclusive development paths.

I am sure we all would agree that we cannot postpone investment in sustainable futures.

The collapse of tourism, remittances, and other revenue bases is moving some SIDS from a liquidity crisis to a solvency crisis.

So, I reiterate my call for the establishment of a dedicated debt sustainability mechanism for the SIDS.

SIDS in need should have access to the Debt Service Suspension Initiative, which should be expanded beyond 2020.

Ultimately, what we are faced with is that we can not keep postponing the SIDS’ debt distress.

We must look into debt relief and address institutional inequities in the international debt architecture.

Ladies and gentlemen,

Finally, much more must also be done to strengthen regional collaboration and new partnerships.

The private sector is a key partner in the efforts towards realizing SIDS’ energy transitions.

The generous support from the government of Denmark made it possible for OHRLLS to initiate the SIDS Global Business Network.

That network is all about strengthening private sector engagement in the implementation of the SAMOA Pathway and Agenda 2030.

The upcoming 2020 SIDS-GBN Forum that OHRLLS is organizing together with Palau provides a platform to take discussions forward.

The Forum is a further opportunity to push the strong business case for energy transition in SIDS.

Ladies and gentlemen,

The task ahead is complex. There is no one size fits all response. In our global response package, we must ensure responsiveness to the SIDS’ specific requirements .

It is vital that we now seize the momentum to integrate our short-term responses and recovery plans with the medium and long-term goals on sustainability and resilience.

The investments we make over the next few months in responding to COVID cannot be short term, expedient band- aid. We must ensure their lasting impact on generations to come.

I thank you for your attention.

Front Page Article:

Malawi Sustainable Energy Investment Study: Validation Workshop and Launch

Anonymous — Wed, 09 Oct 2019 15:42:00 +0000

Wednesday, 09 October 2019 - 9:00am to 12:15pm

BACKGROUND

This workshop marks the finalization of the Malawi Sustainable Energy Investment Study. The project was launched in February 2019 to articulate how Malawi can attract and generate the required investment to achieve SDG7, and leapfrog to clean energy, with a view to contributing to the objectives of the Paris Agreement and holding the increase in the global average temperature to “well below 2°C”.

Over the past 9 months, Rocky Mountain Institute has supported the preparation of the Investment Study in close collaboration with the Ministry of Natural Resources, Energy, and Mining. The study proposes a clear roadmap for achieving Malawi’s goals: increasing supply of and access to reliable, affordable energy, as a platform for industrial and socio-economic development.

The Investment Study makes a detailed assessment of the power sector and cooking solutions, identifying and prioritizing projects to create a pathway that will achieve Malawi’s goals. A least-cost analysis of potential generation scenarios informs an optimal approach, that reaches targets at the least cost to government and consumers.

DOCUMENTS

Background Materials

Other

Malawi Sustainable Energy Investment Study Briefing Note

tags:

Sustainable Energy

Least Developed Countries

Energy Access

Renewable Energy

Energy

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Events

LDCs

Promoting Investment for Energy Access in LDCs (2017)

Anonymous — Wed, 03 May 2017 16:04:00 +0000

bangladesh_ilo_asia-pacific.jpg

Bangladeshi village celebrating as they display their first solar panel.

ILO Asia-Pacific

This report makes a clear case that there is an urgency in accelerating access to clean, affordable and reliable energy in all of the LDCs, and that this will only happen if governments, investors, donors and the private sector work together to unlock investment.

Dowload (English) (French)

Front Page Article:

Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States - Energy Access

Statement at the SDG Business Forum 2020: Catalyzing Finance and Investment for the Achievement of SDG 7

Statement by Ms. Fekitamoeloa Katoa‘Utoikamanu, High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States

23 September 2020 New York, USA

Statement at the Virtual Event on the Energy Transformation in SIDS

Statement by Ms. Fekitamoeloa Katoa‘Utoikamanu, High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States

15 September 2020 New York, USA

Malawi Sustainable Energy Investment Study: Validation Workshop and Launch

BACKGROUND

DOCUMENTS

Promoting Investment for Energy Access in LDCs (2017)

bangladesh_ilo_asia-pacific.jpg

23 September 2020
New York, USA

15 September 2020
New York, USA