/LONDON, September 16, 2021, 9:30 BST, RENEWABLE MARKET WATCHTM/ The UN High-Level Dialogue on Energy aims to provide transformational action on the energy-related goals of the 2030 Agenda and support the implementation of the Paris Agreement. The world has less than nine years to achieve the goal of ensuring clean energy for all, and we are falling behind. Transformational energy transitions require dramatically upscaling renewable energy and energy efficiency and equally downscaling and phasing out coal and other fossil fuels while innovating for the future, to arrive at the global decarbonization goal required to achieve net zero by 2050.
In the margins of the UN High-Level Dialogue on Energy, Denmark, IRENA, UNEP and the World Economic Forum hosted the Energy Action Day. The event has convened a broad set of stakeholders to discuss how to accelerate collective action towards net zero and climate-resilient energy systems while promoting decarbonisation to meet the 1.5°C thresholds. The Energy Action Day featured in-depth discussions and showcase ambitious energy transition-related commitments and initiatives in an effort to accelerate energy transitions around the world. The event paved the way towards the High-level Dialogue on Energy and COP26 in Glasgow.
The opening plenary of the Energy Action Day will set the stage for discussions on how to advance energy transitions worldwide at the speed and scale needed to achieve global climate and development goals. It will highlight key challenges and the role of government and private sector actors, individually as well as through partnerships, in raising ambitions.
Participation of the Renewable Market Watch™ in this high-level event is recognition for the outstanding research and analytical capabilities of the company. The Agenda of this event is as follows:
Session 1: Mobilising Action in Heavy Industry and Transport
This session sought to spark a critical conversation about the radical collaboration required between industry and energy powers in the years to come.
Session 2a: Moving Beyond Oil & Gas
The ‘Moving Beyond Oil and Gas’ session made a compelling case for Beyond Oil and Gas Alliance, ahead of its official launch at COP26.
Session 2b: The Role of Cities in Delivering A Net-Zero Energy System
Present the crucial role of cities in delivering a net-zero energy transition and explore how the support of national governments, private sector, finance and international cooperation can help cities take this lead, including through innovation and investment roadmaps. Launch a new Urban Energy Compact to scale up support to cities and international cooperation and showcase commitments from partners, countries, and cities in the build-up to COP26 and beyond.
Session 3a: From Coal to Clean
The session showcased how international collaboration can support and accelerate the global transition from coal to clean power. It also discussed the work that still needs to be done and identify the UK's key priorities for partners to work on in the lead up to COP26 and beyond.
Session 3b: 10,000 by 2030 - Launch of Youth Solutions Movement
This session discussed how to provide youth with the skills, knowledge, networks, and funding they need to mobilize energy transition solutions in their community, be a uniting force for global collaboration. As a pinnacle moment during this session, Student Energy announced the launch of Launching the Solutions Movement and its goal of raising $150 million by 2030 to launch 10,000 youth solutions.
Session 4: Scaling up RE including Offshore Wind and Green Hydrogen
Renewable energy has taken centre stage as a robust solution in the quest for rapid and widespread decarbonisation of the energy system. This session considered existing developments in offshore wind and green hydrogen and explore actions to rapidly expand the market potential at a global scale. It also served as the launch of the Green Hydrogen Compact catalogue – a collection of ambitious commitments from governments, businesses and other stakeholders.
Session 5a: Accelerating Clean Energy Investments in Emerging and Developing Markets
The session mobilized efforts and investments around concrete solutions and action-oriented partnerships for clean energy transitions in emerging and developing economies. It also highlighted relevant Energy compacts and other “Bold solutions” and Partnerships in this area and increase global momentum around them.
Session 5b: Energy Efficiency: Making the Energy Transition Possible
This session presented the key contribution of energy efficiency as “the first fuel” for emissions reduction, energy security, economic growth, sustainable development, alleviating energy poverty, and job creation. Inspire actions to accelerate efforts to deliver EE improvements in buildings, appliances, and equipment.
Closing Plenary: Delivering Energy Transition Goals at COP26
The Closing Plenary highlighted key actions showcased throughout the Energy Action Day and their contribution to the transformation of the global energy system. It focused on what it takes to deliver energy transition goals for COP26 and define the next steps necessary for the step-change in the coming decade. On the eve of the High-level Dialogue on Energy, the session recalled speaker announcements and commitments, establish a powerful, unifying narrative around work to be done and encourage cross-sectoral partnerships to emerge as a result of the day’s activities.
The corporate renewable PPAs shall have a crucial role in non-subsidised renewable energy market growth by 2030. The Renewable Market Watch™ projects the governments of most European countries will create competitive regulatory frameworks enabling and facilitating the implementation of corporate renewable PPAs. As a result, the utility-scale wind and solar PV sector will emerge between 2020 and 2030 due to the low turn-key cost of wind and solar technology, corporate PPA schemes and tender support schemes announced in many European countries.
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About Renewable Market Watch™
Renewable Market Watch™ is delivering strategic insight into emerging renewable energy markets through its experienced research team and cutting edge predictive analytics data platform. We partner with our customers to provide research, data and consulting reports in areas appropriate to their specific requirements. Our primary focus is emerging renewable energy markets of the Asia Countries, Balkan countries, Central and Eastern Europe, CIS states (the former Soviet Union), LATAM countries, and MENA countries. For more information about Renewable Market Watch™ please visit: