Pakistan Urges UN to Provide Financial Assistance for Clean Energy Transition
New York:Pakistan has called for concessional financial support for the transition to clean energy at the United Nations. Speaking at an event at the UN Headquarters, Pakistan’s Deputy Permanent Representative to the UN, Usman Jadoon, emphasized the importance of better access to financial resources, pointing out that developing countries often lack the resources to complete expensive energy projects.
Usman Jadoon stated that significant progress is being made globally in sectors such as solar energy, electric vehicles, and wind power, with China leading this positive trend among developing and emerging economies. He highlighted the need for international cooperation and policies to assist other nations in their energy transition.
He mentioned that Pakistan intends to increase its share of renewable energy to 60% by 2030. Furthermore, the country plans to add 13,000 megawatts of hydroelectric power by that year. With substantial potential for solar and wind energy, Pakistan estimates that achieving its energy transition goals will require an investment of over $100 billion. By 2050, technologies and infrastructure for energy transition will need an investment of $150 trillion globally.
Usman Jadoon stressed that partnerships are crucial for overcoming the challenges faced by developing nations, and international efforts are necessary to ensure the achievement of collective energy transition goals. He further stated that advancing clean energy projects is in line with the commitment to promote global cooperation.
