Renewable energy

A new report by the International Centre for Integrated Mountain Development (ICIMOD) warns that as demand for energy surges, regional cooperation will be crucial to meeting development and climate goals.

The new NDA will recommend and authorise projects under Article 6.4, including activities ranging from renewable energy and green hydrogen to green ammonia and carbon capture, utilization, and storage (CCUS).

Passing Gifts, active in Odisha’s Mayurbhanj, Keonjhar, and Koraput districts, supports rural livelihoods through backyard poultry, goat rearing, and spice value chains.

Afghanistan’s domestic power generation, though improving, remains insufficient. Hydroelectric, solar, and fossil fuel-based plants contribute to the national grid, but infrastructure limitations and growing demand have kept supply far below need.

Though Nepal has introduced climate budget tagging to track climate-related public spending, gaps remain in strategy, transparency, and alignment with national climate goals.

A core feature of the initiative includes $40 million in World Bank Group guarantees in the first phase. This will help reduce risks for private investors and energy producers.

For renewable energy to truly fulfill its promise, the world must invest not only in expanding capacity but also in building a system that is resilient, adaptable, and informed by the best available climate science.

The report's optimism stems from the observation that 2023 marked the first year where the continued expansion of building construction was decoupled from the corresponding rise in sector greenhouse gas emissions.