On 15 May 2023, Dr. Ma Jun, Chairman and President, HKGFA spoke at the Global Solutions Summit on the panel “Securing a Clean Future for All: The Pathway to a Global Just and Equitable Energy Transition” to discuss how sustainable finance can help the financing of green projects, and facilitate just transitioning to a net zero future.
<Recap of the panel provided by Global Solutions Summit>
Energy security – the uninterrupted availability of energy sources – is considered a key driver of economic growth, sustainable development, and human well-being. Yet, energy insecurity is one of the most urgent problems facing countries, particularly in the Global South: Globally, 750 million people – 1 in 10 – lack access to electricity, and around 2.6. billion people rely on dirty biomass fuels for cooking and heating. This is exacerbated by the current energy crisis, which is affecting the entire world.
The transition to and investment in clean energy and the necessary infrastructure can significantly improve energy security and reduce energy poverty, while offering opportunities for economic growth and job creation. However, the transition to clean energy also requires significant investment and technological expertise. International cooperation and support will therefore be at the heart of the energy transition.
How can energy security, coupled with a just transition to clean energy, be achieved globally? Since economic, political, and social circumstances differ across the developed, developing, and poor countries, the green energy transition requires multiple, monitored pathways towards a common global goal. The panel will explore the pathways and the goal, examining how the green energy policies and business strategies can be made socially acceptable, serving to reduce poverty, sustain communities and improve global health.