Nigeria has been elected as a member of the International Renewable Energy Council (IRENA) for the next two years.
The election was held on Sunday at the closing session of the 13th Assembly of the international organization.
The Director General of the Energy Commission of Nigeria (ECN), Prof. Eli Jidere Bala, who was at the event commended the development, especially as the country pushes for energy transition.
Apart from bringing Nigeria to global discussions and decision-making on cleaner energy, Bala said the development would allow the country to discuss finance and investment into renewable energy at the international stage.
The 13th session of the Assembly, which brings together 168 member states, appointed the Director General, Francesco La Camera for a second term of four years.
IRENA members also agreed on the Agency’s Medium Term Strategy (MTS) until 2027, a development that allows the agency to focus on important and targeted actions, unparalleled international cooperation, and continuous innovation.
La Camera said: “We must build a new energy system with the tools and systems of the future, not the past. Just as we innovate to improve technology, we must innovate to imagine international cooperation for the new energy era.
“The renewable energy-based transition is the vehicle for a climate-resilient energy system, improved energy security, reduced inequality and universal access that is long overdue. I am deeply humbled by my appointment as Director General. I will continue to work tirelessly to realize our global mission new IRENA.
Meanwhile, the UN has previously asked countries around the world to triple energy transition investments to $4 trillion a year despite the global energy crisis due to Covid-19 and the war in Ukraine.
This will come as global energy leaders gather yesterday at the 13th Assembly of the International Renewable Energy Agency (IRENA) in Abu Dhabi, United Arab Emirates to dialogue on options and assess progress on climate change ahead of the Conference of the Parties (COP 28). later this year.
To save the planet, countries around the world, including Nigeria have committed to net-zero targets but existing developments, especially COVID-19 and the war in Ukraine have thrown off global projections with serious energy and supply chain disruptions.
The resolution for IRENA members suggests short-term action will accelerate the energy transition in the coming years and will correct the 1.5°C path by 2050.
Secretary-General António Guterres said at the event that the projected global warming of 2.8 degrees by the end of this century remains dangerous, adding that it is necessary to remove intellectual property barriers and treat key renewable technologies, including energy storage, as global commons. .
Calling for diversification and increased access to supply chains for raw materials and components for renewable technologies, Guterres said decision-makers must give approval for sustainable projects.
According to him, subsidies should be changed from fossil fuels to clean and affordable energy
“The price of renewable technology can be seven times higher in developing countries.
We all need to work together to reduce the capital costs of renewable energy – and ensure that funding flows to those who need it most.
The Multilateral Development Bank must play a role by investing heavily in renewable energy infrastructure, taking more risks, and leveraging private finance,” he said.
Energy leaders from governments, the private sector and international organizations, gathered to confirm that the world is not on track to meet its climate and development goals.
IRENA Director General Francesco La Camera stated that the energy transition based on renewable energy can be a powerful force for positive change.
“The intersecting crises we face call for global action, based on multilateralism, to be stronger and more united to achieve our common goals. And the IRENA Assembly provides a platform to guide the global energy agenda. I am sure that your insights, thoughts, and experiences are not only will guide the Agency’s work in the future, but also show the audience around the world that transforming the global energy system is a path that leads to resilience, equality and prosperity. he said.