Call to increase Investment in Renewable Energy Solutions

Countries in the Global South need to catch up to their Global North counterparts in the transition to renewable energy.

This disparity stems from various factors, including limited financial resources, technological barriers, and weak policy frameworks. Increased investment, technology transfer, capacity building, and robust policy support from Global North countries are imperative to bridge this gap. Investment in renewable energy in the Global South must be tripled by 2030 to ensure a just, green, and sustainable future. There is no alternative for wealthier nations, but they should take the lead in building a just and environmentally sustainable world.

This urgent call was made during a session titled 'Just Energy Transition in the Global South: Challenges for Tripling Renewable Energy by 2030' at the UN's annual climate change conference in Baku, Azerbaijan, on Tuesday, November 19. The session was jointly organised by ActionAid Bangladesh, the Just Energy Transition Network Bangladesh (JETnet-BD), CLEAN, and the South Asia Just Transition Alliance (SAJTA).

Farah Kabir, Country Director of ActionAid Bangladesh, moderated the session. Abul Kalam Azad, Manager of the Just Energy Transition Team, delivered the keynote address, shedding light on the inequities in the energy sector in Global South countries and proposing actionable solutions to achieve a fair, green, and sustainable energy transition.

The session explored a range of impediments to energy transition in the Global South, including limited financing and technological constraints. Panellists emphasised prioritising vulnerable communities and ensuring equitable access to green energy for all.

Speakers highlighted that carbon offsets remain a significant challenge in combating climate change. According to the Climate Action Network (CAN) report, the growth of renewable energy can help reduce overall inequality. Enhanced international cooperation—encompassing climate finance, public-private partnerships, capacity building, and technology exchange—is essential to overcome barriers to sustainable energy transition in the Global South.

Hemantha Withanage, Co-facilitator of the South Asia Just Transition Alliance (SAJTA) and Chair of Friends of the Earth International, underscored Sri Lanka's challenges. He emphasised the need for increased financial support to ensure a sustainable energy transition, stating that investment in renewable energy must be scaled up to achieve balance between the Global South and North.

Vidya Dinker, Coordinator of GrowthWatch India and Member of the International Committee of the NGO Forum on ADB highlighted the complexities of India's energy transition. She criticised India's contradictory policies, which, despite its regional leadership, continue to support fossil fuels.

Prabin Man Singh, Programme Director of Prakriti Resource Centre (PRC) in Nepal, stressed the importance of human rights and fairness in energy transition. He remarked, "Global North countries can ensure fairness in renewable energy transition through adequate financing in the Global South."

Hasan Mehedi, Executive Director of CLEAN Bangladesh, also participated in the session and contributed valuable insights to the discussion.