Green Finance For Energy Security And Sustainable Development
14 January, 2018
JC 2, Level 1, Sunway University, Kuala Lumpur, Malaysia.
About the event:
Energy-related carbon dioxide (CO2) emissions are the majority of global greenhouse gas (GHG) emissions. Climate change has become an existential threat. 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 tonnes of CO2 – or 60% – above the level needed to remain on track for a 2oC warming by 2035 (International energy Agency, 2017). We can lower our emissions in two ways to secure environmental sustainability. The first way is through the supply-side: for example, shifting to cleaner and greener resources of fossil fuels like natural gas, and raising share of renewable energy resources in the energy used. The second way to lower emissions is through the demand-side: for example, reducing the consumption of fossil fuels by using EV and Hybrid cars, and improving the energy-efficiency of machines. In both ways, whether through the supply-side or the demand-side, the financing of these emissions-reducing activities (Green Finance) is a key issue.
In order to increase the energy security of the developing economics which are more vulnerable to energy price fluctuations, it is important to diversify the energy basket away from dependency on fossil fuels to include green (renewable) energy resources. However, renewable energy projects (i.e. solar power plants, wind power generators) or the projects for raising energy efficiencies in the demand side require high investment costs. New schemes of financing that are different from conventional bank financing are necessary because banks are reluctant to lend to renewable energy projects, because they regard these projects as too risky. This workshop will highlight new and practical methods for green finance by emphasizing the energy security concerns for sustainable development.