A new deal has been signed to accelerate the adoption of renewables and energy efficiency solutions in small island developing states (SIDS).
The International Renewable Energy Agency (IRENA) has signed a Memorandum of Understanding with the Small Island Developing States Sustainable Energy and Climate Resilience Organisation (SIDS DOCK) to build energy security and support climate resilience in SIDS economies.
IRENA and SIDS DOCK will co-develop policy frameworks, exchange knowledge, and engage in capacity building, project facilitation and project finance, while promoting cooperation between developing countries.
Global investments in renewables must triple to meet 2050 climate goals
IRENA and CDF partner on energy transition funding for Caribbean islands
IRENA explores renewables impact on Central and South-Eastern European economies
The two organisations will share knowledge of ocean technology, as well as:
- Facilitate knowledge sharing through development of databases and knowledge-sharing platforms;
- Support with the assessments, roadmaps, and implementation of national and regional energy policies;
- SIDS DOCK to support IRENA’s SIDS Lighthouses Initiative and Global Geothermal Alliance (GGA) initiatives;
- Facilitate and support the establishment of the SIDS DOCK Island Women Open Network (IWON) Sustainable Energy Financing Facility;
- Support SIDS in the assessment of opportunities which attract financing for renewable technologies for waste-to-energy and desalination;
- Support the Climate Investment Platform (CIP) initiative to accelerate investments in renewable energy and improve access to finance.
His Excellency Mr. Ronald J. Jumeau, ambassador and permanent representative of the Republic of Seychelles to the United Nations (UN) and chair of the SIDS DOCK Executive Council, said: “The intention is to jointly collaborate on information sharing, resource mobilisation, support with project development and policy frameworks, and global and regional initiatives to help small islands meet the Sustainable Development Goals (SDGs), particularly Goal 7, and meeting their commitments under the United Nations Framework Convention on Climate Change (UNFCCC) Paris Agreement and their Nationally Determined Contributions (NDCs).”
IRENA Director-General Francesco La Camera said: “Small islands possess abundant renewable energy resources including solar, wind and ocean energy. These resources can play a significant role in building more robust, resilient and sustainable economies on small islands and will be the foundation of sustainable development.”
“This agreement is yet another example of IRENA’s steadfast commitment to accelerating the transition to a low-carbon energy system in SIDS. The Agency will mobilise its full capabilities to support this transformation,” he added.