United Nations Environment Program: Low-carbon transition is an opportunity for low- and middle-income countries_Oriental Fortune Network

Summary

[United Nations Environment Program: Low-carbon transition is an opportunity for low- and middle-income countries]On the evening of November 20, the United Nations Environment Program released the “2023 Emissions Gap Report” in Nairobi, the capital of Kenya, calling on all countries to promote low-carbon development of the entire economic system. development transformation, with a focus on the energy transition. The report states that the transition to low-carbon development poses economic and institutional challenges to low- and middle-income countries, while also providing significant opportunities. The energy transition in low- and middle-income countries can help bring access to energy, lift millions out of poverty, and expand strategic industries.

On the evening of November 20, the United Nations Environment Program released the “2023 Emissions Gap Report” in Nairobi, the capital of Kenya, calling on all countries to promote the low-carbon development transformation of the entire economic system and focus on energy transformation.The report points out that currently mined coal, oil andnatural gasas well as coal mines and oil fields that have been planned, the cumulative emissions throughout the entire production cycle will reach more than 3.5 times the carbon budget required to control temperature rise within 1.5°C, which is almost equivalent to the entire carbon budget required to control temperature rise within 2°C.

“Countries with greater capabilities and emissions responsibilities—especially the high-income, high-emitting countries in the G20—need to take more ambitious and faster action and provide financial and technical support to developing countries,” the report said. At the same time, it was pointed out that since low- and middle-income countries account for more than two-thirds of global greenhouse gas emissions, it is a top priority for these countries to meet development needs with low-emission growth, such as adjusting energy demand patterns and prioritizing the development of clean energy supply chains.

The report states that the transition to low-carbon development poses economic and institutional challenges to low- and middle-income countries, while also providing significant opportunities. The energy transition in low- and middle-income countries can help bring access to energy, lift millions out of poverty, and expand strategic industries. As renewable energy prices fall, low-carbon energy can efficiently and equitably underpin associated energy growth, ensuring green jobs and cleaner air.

To achieve this goal, international financial assistance must increase significantly while new public and private sources of capital are restructured through financing mechanisms that reduce capital charges, including debt financing, long-term concessional financing, guarantees, and catalytic financing.

(Source of article: Beijing News)