COP27 Energy Day Focuses on Balancing Energy Trilemma

The COP27 Presidency initiative to present pathways for an Africa Just and Affordable Energy Transition Initiative (AJAETI) was launched at Energy Day. The initiative focuses on solutions to help Africa overcome the energy transition dilemma by identifying risks, and opportunities, and empower the critical enablers that are required to succeed. Commenting on Energy Day, COP27

President Mr. Shoukry said: “Energy is one of the most carbon-intensive sectors in any given economy, making it one of the most important areas to effect meaningful mitigation measures that contribute to addressing climate change and transitioning to a green economy for the future.

Science is clear: global emissions need to be reduced by half by 2030, reaching netzero by 2050. To achieve this, we need to invest in new sources of energy that are clean, affordable, accessible, sustainable, and reliable”. The COP27 Presidency launched the Africa Just & Affordable Energy Transition Initiative (AJAETI) during the opening session of COP27’s Energy thematic day. AJAETI aims to focus on three key objectives:

1. Consolidate and facilitate technical and policy support that will make just and affordable energy transitions in all African countries financially viable, securing access to affordable energy by 2027 for at least 300 million Africans, and contributing to SDG 7.1 target of universal access by 2030.

2. Transition 300 million out of the 970 million, who do not have access to clean cooking fuels and technologies, towards clean cooking by 2027, contributing to the SDG 7.1 target of universal access by 2030.

3. Transition towards green energy by increasing the share of renewable electricity generation by 25 percentage points by 2027 and obtaining a power sector based on renewables by 2063, in line with the “Africa We Want” agenda.

Joint Work Program of the UNFCCC Technology Mechanism

Launched at COP27

The two bodies of the Technology Mechanism under the UNFCCC and Paris Agreement; the Technology Executive Committee (TEC) and Climate Technology Centre and Network (CTCN), launched their joint work program to accelerate the deployment of transformative climate technologies that are urgently required to tackle climate change. The United States announced today a contribution of USD 3 million to support the implementation of theJoint Work Programme.

The European Commission declared that it would continue its support by providing anew EUR 2 million contribution to the Climate and Technology Centre and Network.”. Parliamentary State Secretary at the Federal Ministry for Economic Affairs and Climate Action Stefan Wenzel underlined Germany’s support and announced a voluntary contribution of EUR 1.5 million to CTCN and EUR 500,000 to TEC in 2022. In addition, the Canadian government has confirmed a CAD 6 million grant to the CTCN.

China Climate Advisers Say More CoalNeeded for Energy Security

The representing team of China at CoP 27 summit declared that China’s plan to add its world-leading fleet of coal power plants is a short-term Band-Aid to address energy security concerns and doesn’t represent a shift in emissions policies.