Remarks by Ms Beate Trankmann at the Sub-Forum on Energy Transition and Sustainable Development under the Global Action for Shared Development Forum

July 12, 2024

Ms. Beate Trankmann, Resident Representative of UNDP China, delivered a keynote speech at the “Energy Transition and Sustainable Development” Parallel Forum organized as part of the Second High-Level Conference of the Forum on Global Action for Shared Development in Beijing, China.

尊敬的杨署长，
尊敬的辛主席，

很高兴代表 UNDP参加“能源转型与可持续发展”分论坛并致辞

On behalf of UNDP, I am delighted to join you at this Subforum. Today’s discussion on transitioning to renewable energy comes at a critical moment.

The Sustainable Development Goals (SDGs) - to end poverty and ensure a future for life on earth by 2030 – are dangerously behind, with SDG 13 – Climate Action and some environmental targets even regressing.

The world is likely to exceed the 1.5-degree safe limit for global warming within the next five years,[i] carrying catastrophic consequences.

Asia is the most vulnerable region, enduring more extreme weather disasters than anywhere else in 2023. Storms and flood killed 2,000 people and affected 9 million.[ii]

Mitigating climate threats like these requires urgent action. It also presents an unprecedented opportunity – to safeguard our shared future, enable long-term prosperity, and put sustainable development back on track.

The energy transition is key. Investing in it can accelerate other SDGs, by creating jobs, diversifying economies and boosting revenues.[iii]

But to unlock this huge potential, we must shift gear NOW.

By the end of this decade, the share of electricity generated by fossil fuels must fall from 60 percent to 30 percent, while renewables must make the inverse movement and rise by the same amount.[iv] This is against continuous massive energy needs and increasing demand in the future.

The Asia-Pacific region has a pivotal role to play:
· It is a major emitter, responsible for 60 percent of global CO2 emissions.[v]
· At the same time around 150 million people across the region lack electricity.

"Given the complexities, no one country or actor can achieve the green economy and energy transition alone. That’s why we are mobilizing meaningful partnerships with governments, the private sector and civil society to deliver sustainable solutions where they are lacking most."

On the other hand, Asia and in particular China are driving the renewables revolution. Last year, China alone deployed 303 GW of renewable energy, nearly nine times the new capacity installed in the US and four times the added capacity in the EU.[vi]

With its valuable resources and experience, China can make important contributions to energy transitions and sustainable development in several ways:

First, China can reinvigorate climate action, and other environmental SDGs, through multilateral means.

The updated Nationally Determined Contributions to be submitted by all countries by 2025 will be critical to raise ambitions backed by actionable plans to keep the 1.5-degree Paris Agreement target alive.

They present a key opportunity to expand climate action into solutions with broad impact, that can drive economic, social and environmental development all at once. Incorporating commitments on biodiversity protection will be key given the importance of intact ecosystems as carbon sinks, as well as sources of livelihoods for the poor.

(UNDP’s Climate promise works with over 120 countries around the world to update for ambitious action and align national climate pledges with the SDGs.)

With China’s important track record in advancing the energy transition and environmental protection, its next generation of NDCs could point the way for other countries to follow.

Second, with public budgets squeezed and financial market conditions challenging, opportunities for investing in sustainable development and clean energy are limited.

China can help promote affordable, long-term SDG financing. This includes strengthening international development cooperation, through instruments like its Global Development Fund under the GDI.

When these align with the SDGs as well as local demands, and are implemented at scale, such initiatives can help close critical funding gaps to address urgent needs in partner countries.

China can also share valuable knowledge on more commercial instruments to promote the energy transition, such as green finance. From barely any issuance in 2016, China is now the largest source of green bonds globally, with issuances worth 131 billion dollars in 2023.[vii]

The energy transition is also at the heart of UNDP’s Strategic Plan.

This is exemplified by our Energy Moonshot – working together with partners, bringing clean, affordable, and reliable energy for 500 million people by 2025, in the world’s poorest communities.[viii]

Beyond energy access, for this shift to succeed, it is also essential to ensure a low-carbon economy that benefits all.

To cope with the expected job losses in the coal sectors, UNDP works with affected regions and communities, including here in China, to help develop strategies for a green transition that includes everyone.

This involves mapping how local economies will likely be affected and identifying opportunities for restructuring and retooling brown economy workers. This way, they can tap into the 100 million jobs that the green economy is expected to create globally by 2030. [ix]

We also advise governments on social protection measures to support those affected, as well as employment policies that level the playing field for women in technical sectors of the green economy.

Given the complexities, no one country or actor can achieve the green economy and energy transition alone.

That’s why we are mobilizing meaningful partnerships with governments, the private sector and civil society to deliver sustainable solutions where they are lacking most.

We advocate for a new, inclusive approach to energy, ensuring all stakeholders participate in its design, and benefit from its outcomes.

We look forward to working with all of you towards a cleaner, sustainable future for everyone, everywhere!

Thank you.

[i][i] Secretary-General's special address on climate action "A Moment of Truth" https://www.un.org/sg/en/content/sg/statement/2024-06-05/secretary-generals-special-address-climate-action-moment-of-truth-delivered; WMO Global Annual to Decadal Climate Update (2024-2028), https://wmo.int/publication-series/wmo-global-annual-decadal-climate-update-2024-2028
[ii] https://wmo.int/news/media-centre/climate-change-and-extreme-weather-impacts-hit-asia-hard
[iii] Secretary-General's remarks for the Launch of the Panel on Critical Energy Transition Minerals https://www.un.org/sg/en/content/sg/statement/2024-04-26/secretary-generals-remarks-for-the-launch-of-the-panel-critical-energy-transition-minerals-delivered
[iv] Secretary-General's remarks for the Launch of the Panel on Critical Energy Transition Minerals https://www.un.org/sg/en/content/sg/statement/2024-04-26/secretary-generals-remarks-for-the-launch-of-the-panel-critical-energy-transition-minerals-delivered; IEA, https://iea.blob.core.windows.net/assets/13dab083-08c3-4dfd-a887-42a3ebe533bc/NetZeroRoadmap_AGlobalPathwaytoKeepthe1.5CGoalinReach-2023Update.pdf , at page 80
[v] ADB Asian Development Blog, Straight Talk from Development Experts https://blogs.adb.org/blog/strategies-rapidly-decoupling-carbon-dioxide-emissions-gdp-asia-and-pacific
[vi] European Electricity Review 2024 | Ember (ember-climate.org)
Growth of Renewable Energy in the US | World Resources Institute (wri.org)
[vii] https://www.climatebonds.net/files/reports/china_sustainable_debt_state_of_the_market_report_2023.pdf
[viii] UNDP website, https://www.undp.org/energy/change-network/un-energy
[ix] https://blogs.lse.ac.uk/businessreview/2024/03/22/youth-employment-is-key-for-the-just-transition-to-a-green-economy/