The call for concessional financing aligns with Pakistan’s broader efforts to position itself as a leader in sustainable energy development while addressing pressing financial challenges.
Pakistan has called for supportive global policies to help cash-strapped developing countries transition to clean energy at an event commemorating the International Day of Clean Energy at the United Nations headquarters in New York.
Addressing delegates on Friday, Ambassador Usman Jadoon, Deputy Permanent Representative of Pakistan to the UN, emphasized that developing countries with limited fiscal space are unable to invest in costly energy projects without enhanced access to finance.
“Developing countries are dedicated to making their contribution to the just energy transition, but without concessional financing and supportive international policies, their progress will remain hindered,” Ambassador Jadoon stated.
The special event was organized by the “Group of Friends of Energy,” an informal coalition of member states that actively collaborate and advocate for policies and initiatives promoting sustainable energy access and development worldwide. Pakistan was a co-sponsor of the event, which saw the participation of Philemon Yang, President of the UN General Assembly, among other dignitaries.
While acknowledging the continued global deployment of clean energy technologies, such as solar power, electric vehicles, and wind energy, Ambassador Jadoon pointed out that progress remains uneven across different regions and technologies.
“When we look at developing and emerging economies, China accounts for the bulk of the positive momentum. This uneven growth highlights the need for more supportive international policies to enable developing countries to navigate the energy transition,” he said.
Collective action, Equitable Support
Pakistan has committed to increasing the share of renewable energy in its energy mix to 60% by 2030, the ambassador highlighted. He also shared the country’s ambitious plan to add an additional 13,000 MW of hydropower capacity by 2030, capitalizing on its immense potential in solar and wind energy.
However, achieving these targets requires significant financial investment. Ambassador Jadoon estimated that Pakistan’s energy transition goals would cost over $100 billion, while globally, keeping the 1.5-degree Celsius target within reach would necessitate investments of approximately $150 trillion in transition technologies and infrastructure by 2050.
“Undoubtedly, partnerships are essential to aid developing countries in overcoming these obstacles,” Jadoon stressed, calling for enhanced global collaboration and concessional financing mechanisms to support developing nations.
He urged stakeholders to use the International Day of Clean Energy as an opportunity to reaffirm their commitment to taking the necessary actions at both national and international levels to achieve the global energy transition goals.
The call for concessional financing aligns with Pakistan’s broader efforts to position itself as a leader in sustainable energy development while addressing pressing financial challenges. As the global energy landscape evolves, Pakistan’s plea underscores the need for collective action and equitable support to ensure that no country is left behind in the pursuit of clean energy solutions.
The event concluded with a collective agreement on the importance of mobilizing resources and fostering international cooperation to accelerate clean energy adoption in developing economies.
