Iceland is a Global Champion at the United Nations High-Level Dialogue on Energy
Why is the High Level Dialogue on Energy important?
· The High-level Dialogue on Energy in 2021 is the first global gathering on energy under the auspices of the General Assembly since the UN Conference on New and Renewable Sources of Energy held in Nairobi in 1981.
· It is a historic opportunity to help drive transformational action in the first years of the SDG Decade of Action and support the implementation of the Paris Agreement.
· The overarching goal of the High-level Dialogue on Energy is to promote the implementation of the energy-related goals and targets of the 2030 Agenda for Sustainable Development.
· Investing in SDG 7 empowers billions of people and helps realize transformational benefits for the achievement of all the Sustainable Development Goals, while addressing the climate crisis and strengthening resilience, especially among the most vulnerable. (Invitation which outlines the rationale)
· Concrete action is needed to achieve access to clean energy for the 760 million people who currently live without electricity and for the 2.6 billion people still relying on harmful fuels for cooking.
What are Energy Compacts?
are voluntary commitments from UN Member States and other stakeholders, such as companies, regional and local governments and NGOs, with the specific actions they will take to advance progress on SDG7 and net-zero emissions. The Energy Compacts are designed to be fully in line with SDG Acceleration Actions and Nationally Determined Contributions under the Paris Agreement.
What does Iceland‘s Energy Compact entail?
Domestically, Iceland aims to:
· Become independent from use of fossil fuels at the latest by 2050 and carbon neutral by 2040. Renewable energy in transport will be at least 40% by 2030.
· Take measures to improve energy efficiency and minimize energy waste.
· Meet all energy needs of the country in a secure manner for the near and distant future.
Internationally, Iceland aims to:
· Increase climate-related financing, focusing on the transition to sustainable energy.
· Support countries in increasing the share of renewable energy and in transitioning to the circular economy through direct multiple use of energy, including for food production.
· Help advance gender equality in the just transition to sustainable energy, including through technical training.
Does Iceland endorse other Energy Compacts?
Yes, Iceland also proudly joins the Gender Equality Energy Compact, as well as the 24/7 Carbon-free Energy Compact, and we also hope to see a Geothermal Energy Compact.