The Post COVID Recovery Report | IRENA | UPSC

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The Post COVID Recovery Report IRENA UPSC

The Post COVID Recovery Report | IRENA | UPSC

      HEADLINES:

Post-COVID recovery: An agenda for resilience, development and equality

      WHY IN NEWS:

The report is rooted in the comprehensive long-term energy transformation strategy provided by IRENA’s first Global Renewables Outlook.

SYLLABUS COVERED: GS 3:Report

      LEARNING: 

For PRELIMS it is important to understand both the report in depth and IRENA too !

For MAINS this article has more than sufficient key takeaway points for answers on renewable energy .

      CONTEXT: 

POST-COVID RECOVERY REPORT 

  • Increased uptake of renewables, energy efficiency represent far-sighted investment amid the crisis set off by the COVID-19 pandemic.
  • As part of short-term stimulus and recovery plans, the energy transition provides a crucial link to medium- and long-term global climate and sustainability goals.

PUBLISHED BY

This report from the International Renewable Energy Agency (IRENA).

OBJECTIVE 

The report offers practical advice on key investment and policy decisions for the crucial post-COVID recovery.   

REPORT ANALYSIS

  • ENERGY REQUIREMENTS : Post-COVID recovery measures could drive a lasting shift in the global energy mix.
  • STRATEGIES : Linking the short-term recovery to medium and long-term strategies is paramount to achieving the Sustainable Development Goals (SDGs) and the Paris Agreement on Climate Change.
  • TRANSITIONS : National and regional energy transitions can help to build resilient economies and societies.
  • INVESTMENT : Energy transition investment can boost GDP and create jobs in the 2021-23 recovery phase.
  • GREEN FINANCING : Green investment will be vital to mobilise upfront finance for the transition.
  • JOB CREATION : Each million dollars invested in renewables or energy flexibility would create at least 25 jobs, while each million invested in efficiency would create about 10 jobs.

KEY POLICY RECOMMENDATIONS FOR THE 2021-23 RECOVERY PHASE INCLUDE:

  • AMBITION :Raising national targets and enhancing climate pledges.
  • PUBLIC INTERVENTION :Securing strategic finance, investing in transition-related infrastructure, steering investment away from fossil fuels, and making bailouts conditional on climate action.
  • POWER SECTOR INVESTMENT : Safeguarding existing renewable projects and ensuring stable policy frameworks for transition-related infrastructure.
  • HEATING AND COOLING INVESTMENT : Scaling up transition-related technologies through quotas and mandates ,

EXAMPLE
Creating the infrastructure for district systems and green hydrogen.

  • TRANSPORT INVESTMENT : Creating renewable-based, efficient infrastructure, incentivising electric vehicle and biofuel use, and promoting behavioural changes to reduce the impact of travel.
  • EMPLOYMENT : Protecting existing jobs, supporting workforce expansion in transition-related fields, co-ordinating with industries and developing education and training to minimise skills gaps.
  • INDUSTRY : Diversifying supply chains, developing local industries, providing finance and promoting supplier development programmes and industry clusters.
  • ACCESS : Maintaining energy access initiatives, ensuring reliable power supply and supporting distributed renewable energy solutions to strengthen health, sanitation and other critical infrastructure.

International Renewable Energy Agency (IRENA)

  The International Renewable Energy Agency (IRENA) is an intergovernmental organisation that supports countries in their transition to a sustainable energy future.

AIM

  • It serves as the principal platform for international cooperation, a centre of excellence, and a repository of policy, technology, resource and financial knowledge on renewable energy.

  IRENA promotes the widespread adoption and sustainable use of all forms of renewable energy, including bioenergy, geothermal, hydropower, ocean, solar and wind energy.

HEADQUARTERS

Abu Dhabi, United Arab Emirates

IRENA PROVIDES A WIDE RANGE OF PRODUCTS AND SERVICES

  • Annual reviews of renewable energy employment;
  • Renewable energy capacity statistics;
  • Renewable energy cost studies;
  • Renewables Readiness Assessments;
  • The Global Atlas, which maps resource potential by source and by location;
  • Renewable energy benefits studies;
  • Renewable energy technology briefs;
  • Facilitation of regional renewable energy planning;

With more than 180 countries actively engaged, IRENA promotes renewable resources and technologies as the key to a sustainable future and helps countries achieve their renewable energy potential.

      IASbhai WINDUP: 

Beyond renewables and decarbonisation, investments in the energy system in the wake of the COVID-19 pandemic can pave the way for equitable, inclusive and resilient economies.

     SOURCES:DownToEarth | The Post COVID Recovery Report | IRENA | UPSC

DISCOVER MORE : Important Reports for Prelims 2020

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