Green Finance: Energy Security and Sustainable Development

Majority of global greenhouse gas (GHG) emissions are energy-related carbon dioxide (CO2) emissions. The fight against climate change has become a defining feature in energy policy making, but the implications are daunting. Meeting the emission goals pledged by countries under the United Nations Framework Convention on Climate Change (UNFCCC) would still leave the world 13.7 billion tons of CO2—60% above the level needed to remain on track for just 2ºC warming by 2035.

We can lower emissions by taking the appropriate steps on both the supply and demand side. On the supply side, shifting to cleaner and greener resources, and raising the share of renewable energy resources in the energy basket, could effectively reduce emissions. On the demand side, reducing consumption, and using energy-efficient machines like electric vehicles (EVs) and hybrid cars can improve energy efficiency. Whether applying supply side solutions or demand side solution, green finance is a key issue.

To improve energy security, especially for the developing economies which are more vulnerable to energy price fluctuations, it is also important to diversify the energy basket by minimizing dependence on fossil fuels and increasing alternative green resources, i.e. renewable energy resources. However, renewable energy projects (i.e. solar power plants, wind power generators) and projects for raising energy efficiency require high investment costs. Banks are reluctant to lend to renewable energy projects because from their point of view, these projects are risky. This conference will highlight new and practical methods for financing green energy projects and explore solutions for maintaining energy security for sustainable development.

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Connecting the green dots is a crowd-sourced platform and a living database for environmental movements in Malaysia. There are many good actions being done out there. Our goal is to bring them together. We connect the green dots.