During a side event at the Paris Climate Change Conference, the UN Economic Commission for Europe (UNECE), Renewable Energy Policy Network for the 21st Century (REN21) and International Energy Agency (IEA) launched the UNECE Renewable Energy Status Report 2015.
The report underscores the untapped renewable energy potential, and relatively low renewable energy investment, in the 17 UNECE countries in South and Eastern Europe, the Caucasus and Central Asia.
7 December 2015: During a side event at the Paris Climate Change Conference, the UN Economic Commission for Europe (UNECE), Renewable Energy Policy Network for the 21st Century (REN21) and International Energy Agency (IEA) launched the ‘UNECE Renewable Energy Status Report 2015.’ The report underscores the untapped renewable energy potential, and relatively low renewable energy investment, in the 17 UNECE countries in South and Eastern Europe, the Caucasus and Central Asia.
According to the report, these countries, which have 300 million inhabitants, or 4.9% of the world’s population, represented 0.5% of renewable energy investment in 2014. The report considers the challenges to attracting investment in these countries. Despite many support schemes and policies for renewable energy, “it is important to strengthen the enabling environment and build innovative financing mechanisms…to achieve Global Goal 7: Ensuring access to affordable, reliable, sustainable, and modern energy for all,” according to UNECE Executive Secretary Christian Friis Bach.
In addition to renewable energy, energy access and policy frameworks, the report examines the state of energy efficiency in these countries, noting they have made significant progress in energy intensity since 1990 but that this figure has more recently plateaued. Still facing high losses in electricity, natural gas and/or district heating transmission and distribution networks, these countries encounter barriers such as a lack of, or inadequate, institutional frameworks, public or private funding shortfalls, and weak absorption capacity for international funding at the local levels.
In sum, these countries have “made strides into the realm of renewable energy and energy efficiency,” as REN21 Executive Secretary Christine Lins explained, by “developing targets and policies to promote the diverse renewable energy sources that are abundant across the region.” However, “viewed from a global perspective,” she added, “these developments remain marginal and greater project deployment and investment flows are needed to catch up with global renewable energy market development.” [REN21 Press Release] [UNECE Press Release] [Publication: UNECE Renewable Energy Status Report 2015]