Remarks by the President of the General Assembly,
Mr. Dennis Francis,
at the side event entitled, “Global Energy Interconnectivity and Transition for SDGs”
10 July 2024
[As Delivered]
Excellencies,
Distinguished Delegates,
Let me begin by thanking the Permanent Mission of the People’s Republic of China and partners for organizing today’s event – focusing our attention on hastening the adoption of clean energy.
Indeed, access to affordable, reliable, sustainable, and modern energy for all by 2030 – the very heart of SDG7 – remains still an aspiration.
Today,
- Over 600 million people live without electricity.
- Over 2 billion rely on harmful fuels for cooking.
- And investment gaps for low carbon energy and energy efficiency to 2030, in line with the 1.5-degree pathway, are estimated at $460 billon.
For this reason, I was pleased to launch my Call to Action during the General Assembly’s first-ever Sustainability Week I convened in April – to accelerate implementation of SDG7 towards 2030 and beyond.
Through this Call, among others, the aim is to dramatically scale up finance and investment for developing countries – in particular LDCs, LLDCs and SIDS.
Likewise, the Call aimed to enhance public-private-partnerships, technology transfer and capacity building for developing countries – creating an enabling environment for energy transitions.
In this spirit, I welcome today’s timely event and launch of the Global Electricity Development Index to provide further support for the green transition.
Such efforts – and those of the many institutions including GEIDCO that are promoting the energy transition – will help us meet global demand for electricity in a cleaner and greener way.
Around the world, pre-existing gaps are being wedged open due to needless conflict and instability.
Having just visited Ukraine, I can tell you that with 68 per cent of energy generation destroyed, the need for alternative sources – and investment – is high.
It is but one of many countries in the grips of conflict – and in dire need of support for the clean energy transition.
While these challenges are concerning and require our attention, it is encouraging to note that these needs are coinciding with some very – I repeat, very – optimistic trends.
The cost of solar power and lithium battery technology, for example, has fallen by a whopping 85 percent since 2010 – and the cost of wind power, by 50 per cent.
In parts of the world, renewable energy is now the de facto choice of many in public and private spheres – and not only out of a sense of altruism for the environment, but because of the low cost and clear return on investment.
We must, therefore, seize this momentum – while we can.
Excellencies, Dear friends,
In 2023, the global energy trade reached 28.76 billion kilowatt hours – and is projected to grow by 2.5 per cent annually, towards 2030.
Proof positive that SDG 7 holds a unique position at the heart of the 2030 Agenda for Sustainable Development and the Paris Agreement on climate change. It is an accelerator and unifier that weaves together all SDGs and holds the potential to spark progress across our shared global aspirations.
From education to healthcare, from food security to resilient infrastructure, energy is an ingredient that simply cannot be forsaken.
As we work to decarbonize energy and ensure universal access, it is essential that we share best practices if we hope to deliver – particularly for the most vulnerable countries.
I trust that through this fruitful discussion today, we will drive progress towards affordable, reliable, sustainable and modern energy for all – learning from each other, cooperating with each other, and offering support to each other, for the wellbeing of all, everywhere.
I thank you.
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