One of the most important photovoltaic installations in Central America, with 320,000 photo voltaic panels, situated within the heart of El Salvador. Latin American nations are betting on photo voltaic power because the central pillar of the power transition, bolstered by the commitments made within the Paris Agreement on local weather change. Credit: Edgardo Ayala / IPS.by Emilio Godoy (mexico metropolis)Friday, September 25, 2020Inter Press ServiceMEXICO CITY, Sep 25 (IPS) – The financial restoration after the covid-19 pandemic, renewable power, the fuel scenario, laws and funding; mobility and transport, in addition to new applied sciences and the progress of the Paris Agreement shall be mentioned on the Madrid Energy Conference from 28 September to 2 October.Jeremy Martin, vice-president of the non-governmental Institute of the Americas (IoA), informed IPS from its headquarters within the U.S. coastal city of La Jolla, California, that the second Madrid Energy Conference had to alter its format to a digital one, as all of the conferences have achieved since March.”But the goals and objectives are the same: to address the way energy is generated, distributed and consumed, as well as the investment needed in Latin America to drive the energy transition and its link to Europe,” defined the vice-president of the Institute organizing the convention.The dialogue, the primary version of which was held within the Spanish capital in 2019, will convey collectively ministers and deputy ministers from varied Latin American and Caribbean nations, in addition to 20 firm presidents and greater than 400 delegates from worldwide our bodies, such because the intergovernmental International Energy Agency and the Latin American Energy Organization, and consultants from each continents.The first day of discussions will deal with the relevance of the Paris Agreement, signed in 2015; the local weather disaster within the context of the pandemic; and the scenario of renewable power in Latin America.The second day will deal with financing the post-Covid restoration and the power transition in the direction of decrease carbon fashions and mergers and acquisitions within the power sector.The third day will deal with power storage in batteries and electrical energy transmission networks; mobility, transport and power transition and clever transmission networks.In the fourth group of periods, audio system will focus on fuel, the attitude of oil firms and the function and influence of laws on hydrocarbon firms.The closing of the digital convention will take care of power digitization and synthetic intelligence, carbon seize and storage (CCS), the fuel generated by human actions accountable for world warming, and methane, whose polluting energy is larger than that of CO, and the scenario of hydrogen, seen instead to fossil fuels, in Latin America and Europe.As a results of the coronavirus pandemic which appeared in China on the finish of 2019 and has unfold quickly all through the world, nations have suffered financial recession, a fall in power consumption and tourism, in addition to hundreds of deaths and job losses.In response, nations have applied packages of social and financial measures with totally different levels of depth.For Leonardo Beltrán, a Mexican non-associated researcher on the Institute of the Americas and a participant within the discussion board, the convention attracts essentially the most related actors to consolidate the power dialogue.”There are opinion leaders, company executives who develop business and technology, and officials. The forum allows for the exchange of ideas, and a new vision can be developed, thus consolidating energy integration for the region,” he informed IPS in Mexico City. Domestic fuel and its function within the power transition shall be one of many subjects to be debated on the Madrid Energy Conference, which is able to nearly convey collectively senior representatives of governments, intergovernmental organizations, enterprise and civil society organizations. In the image, fuel cost for residential consumption in a southern neighborhood of Mexico City. Credit: Emilio Godoy / IPSIt may even permit us to analyze the progress of the Paris Agreement on local weather change, signed in 2015, which for Beltran is essential “now more than ever”, due to the implications of the pandemic, such because the sharp slowdown within the world economic system, the discount in power consumption, the contraction in tourism and the disruption of commerce.”Forced by the pandemic, we are seeing the effects of highly polluting industries, which have a large carbon footprint, and so the magnifying glass is being put on these sectors. The source of these emissions is fossil combustion,” he stated.The additionally former Undersecretary of Energy recalled that the Paris Agreement is linked to the efforts that its collaborating governments have to make and whose progress would be the topic of dialogue through the Conference. “Everyone has committed to reducing their footprint with short, medium and long term goals,” he stated.Beltrán thought of that in world phrases, Latin America can exhibit “ample room for maneuver” on the Conference due to its low carbon footprint and a clear power matrix at rising ranges.In addition, the European Union’s (EU) “Next Generation EU” plan, introduced in June and value $830 billion, can function a mannequin for Latin America, with greater than a 3rd going to initiatives to improve power effectivity, scale back dependence on fossil fuels and protect nature. Financing shall be topic to environmental necessities.Martin agreed with the existence of the European options from which the Latin American area can take upon.”Again this year we will look at developments in Europe with a view to how they can contribute to policy and investment frameworks in Latin America”, he stated.”Without a doubt, the pandemic and the crisis it has triggered have led to growing attention and calls to redouble efforts towards an energy transition that will help the world reduce CO2 emissions,” Martin added.The specialist careworn that in lots of Latin American nations the main focus has been on how to handle hydrocarbons, with the lens on the power transition.European power firms are investing closely within the area, and the EU has arrange strains of cooperation to assist in the face of the pandemic.Mechthild Wörsdörfer, director of Sustainability, Technology and Outlooks on the International Energy Agency (IEA) and a speaker on the convention, informed IPS that “having a set of pre-existing policy objectives, programmes and delivery channels for financial services can help countries implement recovery measures more quickly.”The official from the power coordinating physique of the foremost industrial nations stated from Paris, the headquarters of the IEA, that they’ll additionally assist make sure that these measures “are consistent with national objectives for medium- and long-term sustainability.”Wörsdörfer additionally thought of that the restoration plans for the financial disaster brought on by the covid may be linked to the Paris Agreement by way of the measures that nations undertake to adjust to the treaty, “to help select recovery measures that also allow climate and other sustainability objectives to be met.”All of this shall be mentioned on this digital version of the second Madrid Energy Conference, which is able to analyze the challenges that the pandemic and post-pandemic have positioned on a sector that was already topic to the particular challenges of a historic transition in its sources, matrix and consumption.© Inter Press Service (2020) — All Rights ReservedOriginal supply: Inter Press ServiceThe place subsequent?Related News TopicsBrowse associated information subjects:Latest News HeadlinesLearn the most recent information tales:Intercontinental Energy Forum to Discuss Post-Covid Challenges Friday, September 25, 2020Peace within the Middle East Friday, September 25, 2020‘Leave No one Behind’: How Inclusive is World Leaders’ Call to Climate Action? 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Intercontinental Energy Forum to Discuss Post-Covid Challenges, Inter Press Service, Friday, September 25, 2020 (posted by Global Issues)

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