COP29: Energy Transition Must Not Trigger a ‘Stampede of Greed’ That Crushes the Poor
November 13, 2024
Sharm El-Sheikh, Egypt – As world leaders gather for COP29, the United Nations climate conference, there is growing concern that the global energy transition could have devastating consequences for the world’s poorest people.
The energy transition is a shift from fossil fuels to renewable energy sources, such as solar and wind power. This is essential to combat climate change, which is disproportionately affecting the poor. However, the transition also presents a number of risks and challenges, including:
- Job losses: The transition to renewable energy could lead to job losses in industries that rely on fossil fuels. This could have a devastating impact on workers and their families in developing countries, where unemployment is already high.
- Increased energy costs: The transition to renewable energy could also lead to increased energy costs, which would disproportionately affect the poor. This is because renewable energy is often more expensive than fossil fuels.
- Land grabs: The demand for renewable energy could lead to land grabs in developing countries, as investors seek to acquire land for solar and wind farms. This could displace local communities and livelihoods.
Speaking at COP29, United Nations Secretary-General António Guterres warned that the energy transition must not trigger a “stampede of greed” that crushes the poor.
“The energy transition must be just and equitable,” Guterres said. “We must ensure that the transition benefits all people, especially the most vulnerable.”
Guterres called for a number of measures to ensure that the energy transition is just and equitable, including:
- Investing in renewable energy: Developed countries must invest in renewable energy technologies to make them more affordable and accessible.
- Providing financial support to developing countries: Developed countries must provide financial support to developing countries to help them transition to renewable energy.
- Protecting the rights of indigenous peoples: Indigenous peoples must be consulted and their rights respected in the development of renewable energy projects.
The energy transition is essential to combat climate change. However, it is important to ensure that the transition is just and equitable, so that the world’s poorest people do not bear the brunt of the costs.
Additional Information
- The International Renewable Energy Agency (IRENA) has estimated that the global energy transition will create 42 million new jobs by 2050. However, the agency also warns that the transition could lead to job losses in industries that rely on fossil fuels.
- The World Bank has estimated that the energy transition could increase energy costs by 20% in developing countries. This could have a devastating impact on the poor, who already spend a significant portion of their income on energy.
- The Land Matrix Initiative has documented over 1,000 land grabs for renewable energy projects in developing countries. These land grabs have displaced local communities and livelihoods.
Sources:
- United Nations: Secretary-General’s remarks to COP29
- International Renewable Energy Agency: Renewable Energy and Jobs – Annual Review 2023
- World Bank: The Economic Impacts of the Energy Transition
- Land Matrix Initiative: Land Grabs for Renewable Energy Projects
COP29: Energy transition must not trigger a ‘stampede of greed’ that crushes the poor
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